REGISTERED NUMBER: SC563226 (Scotland)

Financial Statements For The Year Ended 30 September 2024

for

CMC78 Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

C Campbell

REGISTERED OFFICE:

18-22 MacDowall Street

PAISLEY

PA3 2NB

REGISTERED NUMBER:

SC563226 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

207,294

366

Investment property

5

355,906

355,906

563,200

356,272

CURRENT ASSETS

Debtors

6

16,688

3,621

Cash at bank

26,776

76,951

43,464

80,572

CREDITORS

Amounts falling due within one year

7

313,501

150,736

NET CURRENT LIABILITIES

(270,037

)

(70,164

)

TOTAL ASSETS LESS CURRENT LIABILITIES

293,163

286,108

CREDITORS

Amounts falling due after more than one year

8

(13,545

)

(35,901

)

PROVISIONS FOR LIABILITIES

(34,438

)

(34,438

)

NET ASSETS

245,180

215,769

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

137,474

137,474

Retained earnings

107,606

78,195

245,180

215,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 December 2024 and were signed by:

C Campbell - Director

1.	STATUTORY INFORMATION

CMC78 Ltd 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 as modified by the revaluation of certain assets.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from rents received represent the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to the date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixed plant and equipment

-

25% on cost

Fixtures and fittings

-

10% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixed

Fixtures

plant and

and

equipment

fittings

Totals

£

£

£

COST

At 1 October 2023

399

-

399

Additions

-

208,730

208,730

At 30 September 2024

399

208,730

209,129

DEPRECIATION

At 1 October 2023

33

-

33

Charge for year

100

1,702

1,802

At 30 September 2024

133

1,702

1,835

NET BOOK VALUE

At 30 September 2024

266

207,028

207,294

At 30 September 2023

366

-

366

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

and 30 September 2024

355,906

NET BOOK VALUE

At 30 September 2024

355,906

At 30 September 2023

355,906

Fair value at 30 September 2024 is represented by:

£

Valuation in 2022

200,000

Cost

155,906

355,906

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

2024

2023

£

£

Cost

221,577

221,577

The investment property was valued on an open market basis on 30 September 2022 by Mr Craig Campbell .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

VAT

16,688

3,621

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

2,578

2,801

Tax

-

10,715

Other creditors

20,558

3,950

Directors' current accounts

289,000

132,000

Accrued expenses

1,365

1,270

313,501

150,736

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

2,578

2,801

Bank loans - 2-5 years

7,735

8,403

Bank loans more than 5 years

by installments

3,232

24,697

13,545

35,901

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by installments

3,232

24,697

3,232

24,697

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

16,124

38,701

The Royal Bank of Scotland PLC holds a standard and floating charge over the company's assets.