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REGISTERED NUMBER: SC610004 (Scotland)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

CMC PROPERTIES (SCOTLAND) LIMITED

CMC PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC610004)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


CMC PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC610004)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,387 2,071
Investment property 5 2,697,523 2,307,623
2,698,910 2,309,694

CURRENT ASSETS
Debtors 6 6,800 4,221
Cash at bank 28,131 42,166
34,931 46,387
CREDITORS
Amounts falling due within one year 7 2,294,366 2,316,721
NET CURRENT LIABILITIES (2,259,435 ) (2,270,334 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

439,475

39,360

PROVISIONS FOR LIABILITIES 97,250 -
NET ASSETS 342,225 39,360

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 8 292,650 -
Retained earnings 49,572 39,357
342,225 39,360

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

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

CMC PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC610004)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 July 2025 and were signed on its behalf by:





Mr C C Anderson - Director


CMC PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC610004)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

CMC Properties (Scotland) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC610004

Registered office: 82 Union Street
Larkhall
Lanarkshire
ML9 1DR

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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
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 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.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property.
Revenue is recognised evenly over the period of the rental agreement.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 33% on cost

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

CMC PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC610004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 November 2023
and 31 October 2024 4,155
DEPRECIATION
At 1 November 2023 2,084
Eliminated on disposal 684
At 31 October 2024 2,768
NET BOOK VALUE
At 31 October 2024 1,387
At 31 October 2023 2,071

CMC PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC610004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 2,307,623
Revaluations 389,900
At 31 October 2024 2,697,523
NET BOOK VALUE
At 31 October 2024 2,697,523
At 31 October 2023 2,307,623

The directors consider that the market values of the properties as at year-end were as per the values stated in the financial statements.

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2024 389,900
Cost 2,307,623
2,697,523

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,567 -
Other debtors 4,233 4,221
6,800 4,221

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 366 -
Trade creditors 10 480
Taxation and social security 9,146 5,596
Other creditors 2,284,844 2,310,645
2,294,366 2,316,721

8. RESERVES
Revaluation
reserve
£   
Gain on revaluation 389,900
Deferred taxation (97,250 )

At 31 October 2024 292,650

9. RELATED PARTY DISCLOSURES

Included in other creditors is an total amount of £2,218,858 (2023: £2,243,227) payable to the directors of the company. Also, included in other creditors is an amount of £57,768 (2023: £58,340) due to a connected entity, under common control. These loans are interest-free and repayable on demand.