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REGISTERED NUMBER: 10711212 (England and Wales)















Financial Statements for the Year Ended 28th February 2024

for

CQM FIRST LTD

CQM FIRST LTD (REGISTERED NUMBER: 10711212)






Contents of the Financial Statements
FOR THE YEAR ENDED 28TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CQM FIRST LTD

Company Information
FOR THE YEAR ENDED 28TH FEBRUARY 2024







DIRECTOR: K Saeed





REGISTERED OFFICE: 9 Hind Close
Chigwell
IG7 4EA





REGISTERED NUMBER: 10711212 (England and Wales)





ACCOUNTANTS: Silver Arc
Chartered Certified Accountants
1 Quality Court
Chancery Lane
London
WC2A 1HR

CQM FIRST LTD (REGISTERED NUMBER: 10711212)

Balance Sheet
28TH FEBRUARY 2024

28/2/24 28/2/23
Notes £    £   
FIXED ASSETS
Intangible assets 4 7,505 8,472
Tangible assets 5 97,196 92,630
104,701 101,102

CURRENT ASSETS
Stocks 6 3,520 3,450
Debtors 7 131,197 116,306
Cash at bank and in hand 15,698 13,222
150,415 132,978
CREDITORS
Amounts falling due within one year 8 (177,552 ) (153,944 )
NET CURRENT LIABILITIES (27,137 ) (20,966 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,564

80,136

CREDITORS
Amounts falling due after more than one
year

9

(34,818

)

(62,403

)

PROVISIONS FOR LIABILITIES 11 (73,159 ) (60,055 )
NET LIABILITIES (30,413 ) (42,322 )

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings (30,414 ) (42,323 )
SHAREHOLDERS' FUNDS (30,413 ) (42,322 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

CQM FIRST LTD (REGISTERED NUMBER: 10711212)

Balance Sheet - continued
28TH FEBRUARY 2024


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 29th November 2024 and were signed by:





K Saeed - Director


CQM FIRST LTD (REGISTERED NUMBER: 10711212)

Notes to the Financial Statements
FOR THE YEAR ENDED 28TH FEBRUARY 2024

1. STATUTORY INFORMATION

Cqm First 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

CQM FIRST LTD (REGISTERED NUMBER: 10711212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1st March 2023
and 28th February 2024 8,000 13,307 21,307
AMORTISATION
At 1st March 2023 8,000 4,835 12,835
Amortisation for year - 967 967
At 28th February 2024 8,000 5,802 13,802
NET BOOK VALUE
At 28th February 2024 - 7,505 7,505
At 28th February 2023 - 8,472 8,472

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st March 2023 62,811 90,795 153,606
Additions 516 14,849 15,365
At 28th February 2024 63,327 105,644 168,971
DEPRECIATION
At 1st March 2023 24,942 36,034 60,976
Charge for year 3,838 6,961 10,799
At 28th February 2024 28,780 42,995 71,775
NET BOOK VALUE
At 28th February 2024 34,547 62,649 97,196
At 28th February 2023 37,869 54,761 92,630

CQM FIRST LTD (REGISTERED NUMBER: 10711212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024

6. STOCKS
28/2/24 28/2/23
£    £   
Stocks 3,520 3,450

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/24 28/2/23
£    £   
Trade debtors 9,069 6,087
Amounts owed by group undertakings 116,928 110,219
Other debtors 5,200 -
131,197 116,306

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/24 28/2/23
£    £   
Bank loans and overdrafts (see note 10) 22,383 16,219
Trade creditors 31,848 34,403
Amounts owed to group undertakings 33,342 28,433
Social security and other taxes 5,101 2,468
Net wages 6,812 9,514
VAT 6,794 11,343
Directors' current accounts 71,272 51,564
177,552 153,944

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28/2/24 28/2/23
£    £   
Bank loans (see note 10) 34,818 62,403

Amounts falling due in more than five years:

Repayable by instalments
BBL 29,469 40,836

10. LOANS

An analysis of the maturity of loans is given below:

28/2/24 28/2/23
£    £   
Amounts falling due within one year or on demand:
Bank loans 22,383 16,219

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,349 21,567

Amounts falling due in more than five years:

CQM FIRST LTD (REGISTERED NUMBER: 10711212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024

10. LOANS - continued
28/2/24 28/2/23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
BBL 29,469 40,836

11. PROVISIONS FOR LIABILITIES
28/2/24 28/2/23
£    £   
Deferred tax 73,159 60,055

Deferred
tax
£   
Balance at 1st March 2023 60,055
Provided during year 13,104
Balance at 28th February 2024 73,159

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28/2/24 28/2/23
value: £    £   
1 Ordinary 1 1 1