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REGISTERED NUMBER: SC210356 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

C.E.M Scotland Limited

C.E.M Scotland Limited (Registered number: SC210356)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C.E.M Scotland Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr P L Beadle
Mr M R Furnival





SECRETARY: Oakwood Corporate Secretary Limited





REGISTERED OFFICE: Carlisle Road
Chapelhall
Lanarkshire
ML6 8RL





REGISTERED NUMBER: SC210356 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
147 Bath Street
Glasgow
G2 4SN

C.E.M Scotland Limited (Registered number: SC210356)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,430
Tangible assets 5 - 204,667
- 210,097

CURRENT ASSETS
Stocks - 65,729
Debtors 6 560,444 659,047
Cash at bank 40,952 575,205
601,396 1,299,981
CREDITORS
Amounts falling due within one year 7 4,850 661,011
NET CURRENT ASSETS 596,546 638,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

596,546

849,067

CREDITORS
Amounts falling due after more than one
year

8

-

(30,299

)

PROVISIONS FOR LIABILITIES (43,263 ) (43,263 )

ACCRUALS AND DEFERRED INCOME - (1,250 )
NET ASSETS 553,283 774,255

CAPITAL AND RESERVES
Called up share capital 11 1,100 1,100
Share premium 79,900 79,900
Retained earnings 472,283 693,255
SHAREHOLDERS' FUNDS 553,283 774,255

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

C.E.M Scotland Limited (Registered number: SC210356)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:




Mr M R Furnival - Director



Mr P L Beadle - Director


C.E.M Scotland Limited (Registered number: SC210356)

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

1. STATUTORY INFORMATION

C.E.M Scotland 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
With effect from 1 March 2024, the parent company, TIP Trailer Service UK Limited, commenced winding down the company. All trading, employees, assets and obligations transferred over to the parent company.

Significant judgements and estimates
The Directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Directors' estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Turnover
Turnover represents net sales of goods and services, excluding value added tax and discounts offered. Income is recognised when the company becomes entitled to the income, it can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity.

Government grants
Government grants received relating to tangible fixed assets shall be recognised in income on a systematic basis over the expected useful life of the asset.

Intangible assets
The intangible assets are initially measured at cost. Assets are subsequently measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - at varying rates on cost
Plant and machinery etc - 20% on cost, 10% on cost and at varying rates on cost

Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued at lower of cost and net realisable value. Cost includes all costs of purchase, conversion and other costs incurred in bringing the stock or work in progress to its present location and condition.

C.E.M Scotland Limited (Registered number: SC210356)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors, creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Employment benefits
The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.

C.E.M Scotland Limited (Registered number: SC210356)

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

2. ACCOUNTING POLICIES - continued

Provision for liabilities
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 5,430
Disposals (5,430 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 5,430

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 82,792 767,009 849,801
Disposals (82,792 ) (767,009 ) (849,801 )
At 31 December 2024 - - -
DEPRECIATION
At 1 January 2024 52,555 592,579 645,134
Charge for year 1,749 11,141 12,890
Eliminated on disposal (54,304 ) (603,720 ) (658,024 )
At 31 December 2024 - - -
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 30,237 174,430 204,667

C.E.M Scotland Limited (Registered number: SC210356)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024 186,382
Disposals (186,382 )
At 31 December 2024 -
DEPRECIATION
At 1 January 2024 100,733
Charge for year 6,078
Eliminated on disposal (106,811 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 85,649

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 597,263
Amounts owed by group undertakings 560,444 20,916
Other debtors - 40,868
560,444 659,047

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) - 37,472
Trade creditors 4,850 416,708
Taxation and social security - 139,660
Other creditors - 67,171
4,850 661,011

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) - 30,299

C.E.M Scotland Limited (Registered number: SC210356)

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

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year - 37,472
Between one and five years - 30,299
- 67,771

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 67,771

Hire purchase and finance leases are secured over the assets to which the finance relates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,100 Ordinary £1 1,100 1,100

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. POST BALANCE SHEET EVENTS

TIP Trailer Services UK Limited, the parent company of C.E.M Scotland Limited, has wound this company down as of 29 February 2024. The company's trading, employees, assets and liabilities were transferred over to the parent company.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be Global TIP Holdings Two B.V, registered in The Netherlands with company number 58146369. A parent company of TIP Trailer Service UK Limited

C.E.M Scotland Limited is a wholly owned subsidiary of TIP Trailer Service UK Limited. A company registered in England and Wales with company number 08570225.