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REGISTERED NUMBER: SC478310 (Scotland)




















CM Real Estate Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






CM Real Estate Limited (Registered number: SC478310)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CM Real Estate Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: C L Macfarlane
Mrs M L Macfarlane



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC478310 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland plc
36 St Andrew Square
Edinburgh
EH2 2AD

CM Real Estate Limited (Registered number: SC478310)

Balance Sheet
31 May 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 345,000 345,000

CURRENT ASSETS
Cash at bank 111,354 96,453

CREDITORS
Amounts falling due within one year 5 413,310 410,021
NET CURRENT LIABILITIES (301,956 ) (313,568 )
TOTAL ASSETS LESS CURRENT LIABILITIES 43,044 31,432

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 (55,919 ) (55,919 )
Retained earnings 6 98,863 87,251
43,044 31,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CM Real Estate Limited (Registered number: SC478310)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





C L Macfarlane - Director


CM Real Estate Limited (Registered number: SC478310)

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

1. STATUTORY INFORMATION

CM Real Estate Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departure from that standard. The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern principal which assumes that the company will continue to trade in the foreseeable future. The director's going concern assessment includes a period of at least 12 months from the date of signing of these financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover represents net rental excluding value added tax.

Rent is recognised in accordance with the lease agreement. Where rent is paid in advance, this is calculated and shown separately as deferred income.

Investment property
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to the fluctuation in the property market conditions is not considered to be permanent.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year-end is included in the fair value reserve with the relevant change in fair value.


CM Real Estate Limited (Registered number: SC478310)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date as a provision.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 345,000
NET BOOK VALUE
At 31 May 2024 345,000
At 31 May 2023 345,000

CM Real Estate Limited (Registered number: SC478310)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2023 (55,919 )
Cost 400,919
345,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
as restated
£    £   
Cost 400,919 400,919

investment property was valued on an open market basis on 31 May 2024 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Taxation and social security 4,912 7,274
Other creditors 408,398 402,747
413,310 410,021

Included within other creditors is a loan from the directors. The balance is unsecured and repayable on demand.

CM Real Estate Limited (Registered number: SC478310)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2023 87,251 (55,919 ) 31,332
Profit for the year 15,612 15,612
Dividends (4,000 ) (4,000 )
At 31 May 2024 98,863 (55,919 ) 42,944

The fair value reserve represents the net revaluation deficit on investment properties that is not readily distributable as realised earnings.

7. RELATED PARTY DISCLOSURES

DIVIDENDS

During the year dividends of £4,000 (2023: £4,000) where paid to the directors.


LOANS

At the year end £401,822 (2023: £401,822) was owed by the company to the directors.