C.M.E. (Developments) Limited 02092476 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is machine retail hire, gas sales and haulage Digita Accounts Production Advanced 6.30.9574.0 Software true true 02092476 2023-04-01 2024-03-31 02092476 2024-03-31 02092476 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 02092476 core:RetainedEarningsAccumulatedLosses 2024-03-31 02092476 core:ShareCapital 2024-03-31 02092476 core:CurrentFinancialInstruments 2024-03-31 02092476 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02092476 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 02092476 core:FurnitureFittings 2024-03-31 02092476 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 02092476 core:MotorVehicles 2024-03-31 02092476 bus:SmallEntities 2023-04-01 2024-03-31 02092476 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02092476 bus:FullAccounts 2023-04-01 2024-03-31 02092476 bus:RegisteredOffice 2023-04-01 2024-03-31 02092476 bus:CompanySecretary1 2023-04-01 2024-03-31 02092476 bus:Director2 2023-04-01 2024-03-31 02092476 bus:Director3 2023-04-01 2024-03-31 02092476 bus:Director4 2023-04-01 2024-03-31 02092476 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 02092476 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02092476 core:FurnitureFittings 2023-04-01 2024-03-31 02092476 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02092476 core:MotorVehicles 2023-04-01 2024-03-31 02092476 core:PlantMachinery 2023-04-01 2024-03-31 02092476 countries:AllCountries 2023-04-01 2024-03-31 02092476 2023-03-31 02092476 core:FurnitureFittings 2023-03-31 02092476 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 02092476 core:MotorVehicles 2023-03-31 02092476 2022-04-01 2023-03-31 02092476 2023-03-31 02092476 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 02092476 core:RetainedEarningsAccumulatedLosses 2023-03-31 02092476 core:ShareCapital 2023-03-31 02092476 core:CurrentFinancialInstruments 2023-03-31 02092476 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02092476 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 02092476 core:FurnitureFittings 2023-03-31 02092476 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 02092476 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 02092476

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

Company Information

Directors

Mr Christopher Mark Evans

Mrs Rebecca Hadi

Mr Kamaal Hadi

Company secretary

Mrs Anne Elizabeth Joyce Evans

Registered office

Bryn y Groes Farm
Ystradgynlais
Swansea
SA9 1LF

 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

(Registration number: 02092476)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

986,276

720,519

Current assets

 

Stocks

6

16,725

16,703

Debtors

7

117,454

155,992

Cash at bank and in hand

 

63,685

80,504

 

197,864

253,199

Creditors: Amounts falling due within one year

8

(839,079)

(641,867)

Net current liabilities

 

(641,215)

(388,668)

Total assets less current liabilities

 

345,061

331,851

Creditors: Amounts falling due after more than one year

8

(500,000)

(500,000)

Provisions for liabilities

-

(10,125)

Net liabilities

 

(154,939)

(178,274)

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

(155,939)

(179,274)

Total equity

 

(154,939)

(178,274)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

(Registration number: 02092476)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

.........................................
Mr Christopher Mark Evans
Director

   
     
 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bryn y Groes Farm
Ystradgynlais
Swansea
SA9 1LF

These financial statements were authorised for issue by the Board on 12 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

33% and 25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

159,379

190,845

 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

295,154

1,001,834

343,060

1,640,048

Additions

7,834

310,828

150,466

469,128

Disposals

-

(128,986)

(4,500)

(133,486)

At 31 March 2024

302,988

1,183,676

489,026

1,975,690

Depreciation

At 1 April 2023

-

680,850

238,679

919,529

Charge for the year

-

75,609

83,769

159,378

Eliminated on disposal

-

(84,993)

(4,500)

(89,493)

At 31 March 2024

-

671,466

317,948

989,414

Carrying amount

At 31 March 2024

302,988

512,210

171,078

986,276

At 31 March 2023

295,154

320,984

104,381

720,519

Included within the net book value of land and buildings above is £302,988 (2023 - £295,154) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

16,725

16,703

7

Debtors

2024
£

2023
£

Trade debtors

89,145

99,487

Provision for impairment of debtors

(1,750)

(1,750)

Other debtors

30,059

58,255

117,454

155,992

 

C.M.E. (Developments) Limited

trading as CME (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

94,022

156,169

Trade creditors

 

243,806

151,671

Taxation and social security

 

2,540

3,715

Other creditors

 

498,711

330,312

 

839,079

641,867

Due after one year

 

Other non-current financial liabilities

 

500,000

500,000

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

500,000

500,000

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         

10

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

94,022

156,169