ACCOUNTS - Final Accounts

Registered number: NI602491

CMASS LTD

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

CMASS LTD

Registered number: NI602491

Balance Sheet

As at 31 December 2024

	2024	2024	2023	2023
Note	£	£	£	£

Fixed assets
Tangible assets	4		257,573		346,597
			257,573		346,597
Current assets
Stocks	5	365,991		529,649
Debtors: amounts falling due within one year	6	467,402		609,458
Cash at bank and in hand		1,629,707		1,972,736
		2,463,100		3,111,843
Creditors: amounts falling due within one year	7	(489,753)		(737,315)
Net current assets			1,973,347		2,374,528
Total assets less current liabilities			2,230,920		2,721,125
Creditors: amounts falling due after more than one year	8		(40,867)		(32,158)
Provisions for liabilities
Deferred tax	9		(59,542)		(78,610)
Net assets			2,130,511		2,610,357

Capital and reserves
Called up share capital	1,232	1,232
Profit and loss account	2,129,279	2,609,125
	2,130,511	2,610,357

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 June 2025.

S Fleck

Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

CMASS LTD

Notes to the Financial Statements

For the Year Ended 31 December 2024

1.	General information

CMASS Ltd is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Ireland Freight Services (UK) Limited as at 31 December 2024 and these financial statements may be obtained from Companies House.

2.3

Going concern

The directors of CMASS Limited have reviewed the resources available, including those from the wider Ireland Freight Services (UK) Group, and believe that the company has adequate resources to continue in operational existence for the foreseeable future.
Accordingly, CMASS Limited continues to adopt the going concern basis in preparing the financial statements.

Page 2

CMASS LTD

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

CMASS LTD

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Furniture and office equipment	-	20% straight line
				Computer equipment	-	20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

CMASS LTD

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 21).

Page 5

CMASS LTD

Notes to the Financial Statements

For the Year Ended 31 December 2024

4.	Tangible fixed assets

	Furniture and office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	860,682	146,001	1,006,683
Additions	4,669	-	4,669
At 31 December 2024	865,351	146,001	1,011,352
Depreciation
At 1 January 2024	580,739	79,347	660,086
Charge for the year on owned assets	80,033	13,660	93,693
At 31 December 2024	660,772	93,007	753,779
Net book value
At 31 December 2024	204,579	52,994	257,573
At 31 December 2023	279,943	66,654	346,597

5.	Stocks
		2024	2023
		£	£

Finished goods and goods for resale	365,991	529,649
	365,991	529,649

Debtors

					2024	2023
					£	£


Trade debtors	378,798	565,903
Other debtors	88,604	43,555
	467,402	609,458

Page 6

CMASS LTD

Notes to the Financial Statements

For the Year Ended 31 December 2024

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	96,377	32,376
Amounts owed to group undertakings	36,414	37,829
Corporation tax	45,640	142,879
Other taxation and social security	47,665	58,813
Other creditors	256,249	430,226
Accruals and deferred income	7,166	34,950
Share capital treated as debt	242	242
	489,753	737,315

8.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Government grants received	40,867	32,158
	40,867	32,158

Page 7

CMASS LTD

Notes to the Financial Statements

For the Year Ended 31 December 2024

9.	Deferred taxation

	2024	2023
	£	£

At beginning of year	(78,610)	(65,460)
Charged to profit or loss	19,068	(13,150)
At end of year	(59,542)	(78,610)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

	Accelerated capital allowances	(59,542)	(78,610)
		(59,542)	(78,610)

10.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £17,843 (2023 - £17,837) . Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

11.	Related party transactions
	Details of transactions with related parties are listed below:

		2024	2023
		£	£

Entities with control over the entity
Amounts owed to entity	(36,051)	(37,829)
Monthly management recharge - invoiced	307,804	292,928
Transactions with other related parties
Amounts owed to entity	(363)	-

Page 8

CMASS LTD

Notes to the Financial Statements

For the Year Ended 31 December 2024

12.	Controlling party

CMASS Ltd is a subsidiary of its parent undertaking, IFS Global Logistics Ltd. The ultimate holding company is Ireland Freight Services (UK) Ltd, a company incorporated in Northern Ireland (NI008586) and is the parent entity of the largest and smallest group of which the company is a member and for which consolidated group financial statements are prepared. Copies of the group financial statements can be obtained from Companies House. The ultimate controlling party is the Estate of Mr W Anderson (Deceased).

13.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 30 June 2025 by Brian Clerkin (Senior Statutory Auditor) on behalf of Sumer Auditco NI Limited.

Page 9