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REGISTERED NUMBER: 03037683 (England and Wales)













Financial Statements

for the Year Ended 31 August 2024

for

CM2 1924 Ltd

CM2 1924 Ltd (Registered number: 03037683)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CM2 1924 Ltd

Company Information
for the year ended 31 August 2024







DIRECTOR: Mr M S Scott



SECRETARY: Mr M S Scott



REGISTERED OFFICE: Stephenson Road
Off Station Road
North Hykeham
LINCOLN
Lincolnshire
LN6 3QU



REGISTERED NUMBER: 03037683 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: Lloyds Bank Plc
2 Northgate
SLEAFORD
Lincolnshire
NG34 7BL

CM2 1924 Ltd (Registered number: 03037683)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 454,658 1,544,556

CURRENT ASSETS
Stocks 500 500
Debtors 5 27,631 103,971
Cash at bank 1,649,574 90,107
1,677,705 194,578
CREDITORS
Amounts falling due within one year 6 417,258 224,937
NET CURRENT ASSETS/(LIABILITIES) 1,260,447 (30,359 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,715,105

1,514,197

CREDITORS
Amounts falling due after more than
one year

7

(62,545

)

(404,019

)

PROVISIONS FOR LIABILITIES (16,336 ) (104,146 )
NET ASSETS 1,636,224 1,006,032

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve - 331,957
Retained earnings 1,636,124 673,975
SHAREHOLDERS' FUNDS 1,636,224 1,006,032

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

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

The director acknowledges his 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.

CM2 1924 Ltd (Registered number: 03037683)

Statement of Financial Position - continued
31 August 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 director and authorised for issue on 16 March 2025 and were signed by:





Mr M S Scott - Director


CM2 1924 Ltd (Registered number: 03037683)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

CM2 1924 Ltd is a private company, limited by shares , registered in England and Wales. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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 statement of financial position date.


CM2 1924 Ltd (Registered number: 03037683)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 September 2023 1,039,314 592,953 163,909
Additions - 14,385 -
Disposals (650,001 ) (607,338 ) (163,909 )
At 31 August 2024 389,313 - -
DEPRECIATION
At 1 September 2023 - 228,273 123,723
Charge for year - - -
Eliminated on disposal - (228,273 ) (123,723 )
At 31 August 2024 - - -
NET BOOK VALUE
At 31 August 2024 389,313 - -
At 31 August 2023 1,039,314 364,680 40,186

CM2 1924 Ltd (Registered number: 03037683)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 119,934 83,071 1,999,181
Additions - 957 15,342
Disposals (27,000 ) (84,028 ) (1,532,276 )
At 31 August 2024 92,934 - 482,247
DEPRECIATION
At 1 September 2023 31,670 70,959 454,625
Charge for year 21,781 - 21,781
Eliminated on disposal (25,862 ) (70,959 ) (448,817 )
At 31 August 2024 27,589 - 27,589
NET BOOK VALUE
At 31 August 2024 65,345 - 454,658
At 31 August 2023 88,264 12,112 1,544,556

Cost or valuation at 31 August 2024 is represented by:

Freehold Motor
property vehicles Totals
£    £    £   
Valuation in 2024 389,313 92,934 482,247

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 September 2023
and 31 August 2024 92,934
DEPRECIATION
At 1 September 2023 5,808
Charge for year 21,781
At 31 August 2024 27,589
NET BOOK VALUE
At 31 August 2024 65,345
At 31 August 2023 87,126

CM2 1924 Ltd (Registered number: 03037683)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 524 6,450
Other debtors 9,680 9,680
Directors' loan accounts 7,509 48,833
VAT 9,918 -
Prepayments - 39,008
27,631 103,971

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 51,079
Hire purchase contracts (see note 8)
7,037

7,321
Trade creditors 16,573 41,056
Tax 364,207 31,735
Social security and other taxes - 584
VAT - 16,580
Other creditors 11,083 -
Insurance premium tax 11,516 11,474
Net pay - 7,416
Credit card 7 5,842
Deferred income - 41,829
Accrued expenses 6,835 10,021
417,258 224,937

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years - 148,794
Bank loans more 5 yr by instal - 185,643
Hire purchase contracts (see note 8)
62,545

69,582
62,545 404,019

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 185,643

CM2 1924 Ltd (Registered number: 03037683)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 7,037 7,321
Between one and five years 62,545 69,582
69,582 76,903

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 385,516
Hire purchase contracts 69,582 76,903
69,582 462,419

The bank loan is secured by a fixed and floating charge over the assets of the company.

Hire purchase agreements are secured on the assets to which they relate.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr M S Scott
Balance outstanding at start of year 48,833 63,647
Amounts advanced 300,228 100,550
Amounts repaid (341,551 ) (115,364 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,510 48,833

The above loan is unsecured.

Interest has been charged as per the HMRC beneficial loan interest rate.