CMG ESTATES LIMITED

Company Registration Number:
SC656054 (Scotland)

Unaudited statutory accounts for the year ended 29 February 2024

Period of accounts

Start date: 1 March 2023

End date: 29 February 2024

CMG ESTATES LIMITED

Contents of the Financial Statements

for the Period Ended 29 February 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

CMG ESTATES LIMITED

Directors' report period ended 29 February 2024

The directors present their report with the financial statements of the company for the period ended 29 February 2024

Principal activities of the company

The company's principal activity during the year continued to be rental of residential property



Directors

The director shown below has held office during the whole of the period from
1 March 2023 to 29 February 2024

Charleigh Anderson


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
17 February 2025

And signed on behalf of the board by:
Name: Charleigh Anderson
Status: Director

CMG ESTATES LIMITED

Profit And Loss Account

for the Period Ended 29 February 2024

2024 2023


£

£
Turnover: 18,196 10,602
Gross profit(or loss): 18,196 10,602
Administrative expenses: ( 22,189 ) ( 9,971 )
Operating profit(or loss): (3,993) 631
Interest receivable and similar income: 3
Interest payable and similar charges: ( 12,765 ) ( 7,416 )
Profit(or loss) before tax: (16,758) (6,782)
Profit(or loss) for the financial year: (16,758) (6,782)

CMG ESTATES LIMITED

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 480,100 105,543
Total fixed assets: 480,100 105,543
Current assets
Cash at bank and in hand: 1,311 625
Total current assets: 1,311 625
Creditors: amounts falling due within one year: 4 ( 82,024 ) ( 51,400 )
Net current assets (liabilities): (80,713) (50,775)
Total assets less current liabilities: 399,387 54,768
Creditors: amounts falling due after more than one year: 5 ( 243,688 ) ( 75,002 )
Total net assets (liabilities): 155,699 (20,234)
Capital and reserves
Called up share capital: 100 100
Other reserves: 192,691
Profit and loss account: (37,092 ) (20,334 )
Total Shareholders' funds: 155,699 (20,234)

The notes form part of these financial statements

CMG ESTATES LIMITED

Balance sheet statements

For the year ending 29 February 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 17 February 2025
and signed on behalf of the board by:

Name: Charleigh Anderson
Status: Director

The notes form part of these financial statements

CMG ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life

    Intangible fixed assets amortisation policy

    Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

CMG ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

CMG ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 105,309 200 167 105,676
Additions 300,000 300,000
Disposals
Revaluations 74,691 74,691
Transfers
At 29 February 2024 480,000 200 167 480,367
Depreciation
At 1 March 2023 50 83 133
Charge for year 50 84 134
On disposals
Other adjustments
At 29 February 2024 100 167 267
Net book value
At 29 February 2024 480,000 100 0 480,100
At 28 February 2023 105,309 150 84 105,543

CMG ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 13,314 18,150
Trade creditors 1,050
Other creditors 67,660 33,250
Total 82,024 51,400

CMG ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

5. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 243,688 75,002
Total 243,688 75,002

Interest only mortgages on property