CMS Financial Services Ltd - Filleted accounts

Registered number

NI642932

CMS Financial Services Ltd

Filleted Accounts

For The Year Ended

31 March 2025

CMS Financial Services Ltd
Registered number:		NI642932
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		4,493			5,719

Current assets
Debtors	5	4,952			18,846
Cash at bank and in hand		43,981			40,194
		48,933			59,040

Creditors: amounts falling due within one year	6	(16,985)			(13,881)

Net current assets			31,948			45,159

Total assets less current liabilities			36,441			50,878

Creditors: amounts falling due after more than one year	7		(1,587)			(7,286)

Net assets			34,854			43,592

Capital and reserves
Called up share capital			100			100
Profit and loss account			34,754			43,492

Shareholders' funds			34,854			43,592

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Colman Smith
Director
Approved by the board on 5 December 2025

CMS Financial Services Ltd
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years


	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.



2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		3		3


3	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 April 2024				33,437
	At 31 March 2025				33,437

	Amortisation
	At 1 April 2024				33,437
	At 31 March 2025				33,437

	Net book value
	At 31 March 2025				-

	The company bought over the business of the Easy Mortgage Shop for £40,000. Goodwill is reprentative of this amount less net assets of the business. Goodwill is being written off in equal annual instalments over its estimated economic life of 7 years.

4	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 April 2024				16,195
	Additions				905
	At 31 March 2025				17,100

	Depreciation
	At 1 April 2024				10,476
	Charge for the year				2,131
	At 31 March 2025				12,607

	Net book value
	At 31 March 2025				4,493
	At 31 March 2024				5,719


5	Debtors		2025		2024
£				£

	Trade debtors		4,952		477
	Other debtors		-		18,368
			4,952		18,845


6	Creditors: amounts falling due within one year		2025		2024
£				£

	Bank loans and overdrafts		5,563		5,426
	Trade creditors and accruals		5,413		3,260
	Taxation and social security costs		5,282		5,193
	Other creditors		727		-
			16,985		13,879



7	Creditors: amounts falling due after one year		2025		2024
£				£

	Bank loans		1,587		7,286





8	Events after the reporting date

	There were no events since the balance sheet date which would necessitate a change in the above figures.

9	Contingent liabilities

	There were no contingent liabilities at the year end.

10	Controlling party

	The controlling parties have been identified as the directors and shareholders, Colman Smith and Michelle Smith.


11	Other information

	CMS Financial Services Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
	10C Duke Street
	Warrenpoint
	Co.Down
	BT34 3JY