CMME Mortgages and Protection Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04886692 (England and Wales)

CMME MORTGAGES AND PROTECTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B Ismayil

REGISTERED OFFICE:

3 Turnberry House

4400 Parkway

Whiteley

Fareham

Hampshire

PO15 7FJ

REGISTERED NUMBER:

04886692 (England and Wales)

BANKERS:

Santander UK plc

2nd Floor

103 Commercial Road

Portsmouth

Hampshire

PO1 1BG

FIXED ASSETS

Intangible assets

4

36,321

70,857

Tangible assets

5

20,980

29,951

57,301

100,808

CURRENT ASSETS

Debtors

6

2,140,961

1,522,862

Cash at bank

216,151

266,723

2,357,112

1,789,585

CREDITORS

Amounts falling due within one year

7

(419,044

)

(478,481

)

NET CURRENT ASSETS

1,938,068

1,311,104

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,995,369

1,411,912

CREDITORS

Amounts falling due after more than one
year

8

(137,919

)

(348,563

)

PROVISIONS FOR LIABILITIES

10

(359,697

)

(196,276

)

NET ASSETS

1,497,753

867,073

CAPITAL AND RESERVES

Called up share capital

11

100

Preference shares

12

425,973

Capital contribution reserve

12

305,400

Retained earnings

12

766,280

135,600

1,497,753

867,073

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 31 December 2025 and were signed by:

B Ismayil - Director

1.	STATUTORY INFORMATION

CMME Mortgages and Protection Limited 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for mortgage services provided to external customers in the ordinary nature of the business. Turnover is shown net of Value Added Tax.

Client fees (mortgage advice) - turnover is recognised at the point an application is submitted to a lender.

Procuration fees (mortgages) - turnover is recognised at the point an application is submitted to a lender. This is a change from the prior year where turnover was recognised on completion of mortgage applications, a prior year adjustment has been processed to account for the financial impact of this change in policy.

Protection income - turnover is recognised at the point when the insurance policy goes 'on risk' with the insurer.

Turnover is recognised in relation to separately identifiable components of a single transaction when necessary to reflect the substance of the arrangement and in relation to two or more linked transactions when necessary to understand the commercial effect.

Intangible fixed assets other than goodwill

Intangible assets are recognised at cost less accumulated amortisation and accumulated impairment losses.

Development costs are capitalised when the project is deemed by the directors to be technologically feasible, financially viable and management intend to complete.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives

on the following bases:

Development costs - 33% straight line

Tangible fixed assets

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

Fixtures and fittings

-

Straight line over 4 years

Computer equipment

-

Straight line over 4 years

Financial instruments

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

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash, bank balances and amounts due from group companies, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Employee benefits

The costs of employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

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.

Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.Where the effect of the time value of money is material, the amount expected to be required to settle theobligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a marketing cost in profit or loss in the period in which it arises.

Capital contribution reserve

The capital contribution reserve is a non-distributable reserve, made up of funds given as a contribution to the equity capital of this Company, which were not given in exchange for shares.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 46 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2024

1,506,480

Additions

11,520

At 31 December 2024

1,518,000

AMORTISATION

At 1 January 2024

1,435,623

Amortisation for year

46,056

At 31 December 2024

1,481,679

NET BOOK VALUE

At 31 December 2024

36,321

At 31 December 2023

70,857

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 January 2024

53,857

20,239

74,096

Additions

-

4,761

At 31 December 2024

53,857

25,000

78,857

DEPRECIATION

At 1 January 2024

32,320

11,825

44,145

Charge for year

8,497

5,235

13,732

At 31 December 2024

40,817

17,060

57,877

NET BOOK VALUE

At 31 December 2024

13,040

7,940

20,980

At 31 December 2023

21,537

8,414

29,951

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

Trade debtors

31,150

2,675

Amounts owed by group undertakings

1,343,531

1,143,295

Other debtors

74,029

137

Tax

4

VAT

4,645

-

Prepayments and accrued income

687,602

376,751

2,140,961

1,522,862

The amounts owed by group undertakings are interest free, unsecured and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

Trade creditors

15,836

83,627

Social security and other taxes

311,206

323,931

Other creditors

10,649

11,311

Accruals and deferred income

81,353

59,612

419,044

478,481

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

as restated

£

Social security and other taxes

137,919

348,563

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as restated

£

Within one year

156

6,965

Between one and five years

-

156

7,121

10.	PROVISIONS FOR LIABILITIES

2024

2023as
restated

£

Client fee provision

1,190

9,347

Clawback provision

149,015

157,156

Dilapidation provision

5,000

Procuration fee provision

199,247

24,773

Deferred tax

5,245

-

359,697

196,276

11.	CALLED UP SHARE CAPITAL

2024

2023

2024

2023

Share capital

Number

£

Issued and fully paid

Ordinary shares of £1 each

55

Ordinary B shares of £1 each

45

Preference shares of £1 each

425,973

0

426,073

The Ordinary and 'B' shares shall rank pari passu in all respects.

The preference shares are redeemable. There is no obligation for the company to deliver cash or dividends, and the redemption date is undefined.

12.

RESERVES

Other reserves - The other reserves are made up of a capital contribution reserve £305,400 (2023: £305,400). This is a non-distributable reserve, made up of funds given as a contribution to the equity capital of this Company, which were not given in exchange for shares.

13.	ULTIMATE CONTROLLING PARTY

The Company's immediate parent company is OneDome Finance Limited and its ultimate parent company is OneDome Limited. The ultimate controlling party is Mr B Ismayil.

14.	PRIOR YEAR ADJUSTMENT

Two adjustments have been made to the prior year comparative figures.

Grossing up of revenue and cost of sales

The company has amended its presentation to gross up revenue and cost of sales to account for fees from insurers and third party providers. The financial impact of this adjustment tp the comparatives is an increase in both revenue and cost of sales by £158,932.

Change in revenue recognition policy

The company has changed its accounting policy in respect of mortgage procuration fees. These fees are now recognised when mortgages are written rather than at the point of completion, as the directors consider that the company's performance obligations are satisfied at the earlier date. The financial impact of this prior year adjustment is an increase in revenue of £181,667, increase in accrued income of £206,439, and increase in provisions of £24,773.