REGISTERED NUMBER: 13086617 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

C M DEVELOPMENTS (WIGAN) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D Carney

REGISTERED OFFICE:

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

REGISTERED NUMBER:

13086617 (England and Wales)

ACCOUNTANTS:

Fairhurst Accountants Ltd

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Investment property

4

280,000

280,000

CURRENT ASSETS

Stocks

-

359,543

Debtors

5

799,705

721,797

Cash at bank

3

14,244

799,708

1,095,584

CREDITORS

Amounts falling due within one year

6

1,274,940

1,468,851

NET CURRENT LIABILITIES

(475,232

)

(373,267

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(195,232

)

(93,267

)

PROVISIONS FOR LIABILITIES

1,475

1,475

NET LIABILITIES

(196,707

)

(94,742

)

CAPITAL AND RESERVES

Called up share capital

4

4

Revaluation reserve

7

5,900

5,900

Retained earnings

(202,611

)

(100,646

)

SHAREHOLDERS' FUNDS

(196,707

)

(94,742

)

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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2025 and were signed by:

D Carney - Director

1.	STATUTORY INFORMATION

C M Developments (Wigan) 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.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. However, certain conditions exist in relation to the financial position of the company which indicate the existence of material uncertainty described below.

The company is dependent on it's ongoing ability to source funding. The director has secured finance to fund the current projects.

The director is aware of his duty to present a balanced assessment of the company's financial position and prospects. He concludes that it is appropriate to adopt the going concern basis having regard to the trading performance and cash flows since the year end and is confident that the company has sufficient assets to meet the liabilities. The director continues to strive to maintain adequate funding for existing developments and improve the cash flow position of the company.

For these reasons the director continues to adopt the going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result from the going concern basis of preparation being inappropriate.

Turnover

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

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

The cost is calculated by collating amounts spent on the purchase and refurbishment of properties if they are unsold at the year end.

Financial instruments

The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; trade creditors, bank loans, investor loans, accruals, directors' loan accounts.

Financial instruments that are payable or receivable within one year, typically trade creditors, finance loans and investor loans, are measured initially and subsequently at the undiscounted amount of the cash that is expected to be paid or received.

Financial instruments repayable in more than one year such as finance loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.

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.

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 2 (2023 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

280,000

NET BOOK VALUE

At 31 December 2024

280,000

At 31 December 2023

280,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

5,900

Cost

274,100

280,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

799,705

721,797

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

200,956

489,015

Trade creditors

5,445

11,105

Other creditors

1,068,539

968,731

1,274,940

1,468,851

7.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

5,900

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

D Carney

Balance outstanding at start of year

17,013

-

Amounts advanced

49,747

71,513

Amounts repaid

(52,308

)

(54,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,452

17,013

A A Marsh

Balance outstanding at start of year

200

-

Amounts advanced

27,732

4,700

Amounts repaid

(32,480

)

(4,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(4,548

)

200

Interest has been charged on the overdrawn directors loan accounts, at the relevant HMRC interest rate.