IRIS Accounts Production v24.3.2.46 03051162 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Ordinary A shares 1.00000 Ordinary B shares 1.00000 335892 338080 174916 143024 2188 367784 335892 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh030511622023-04-30030511622024-04-30030511622023-05-012024-04-30030511622022-04-30030511622022-05-012023-04-30030511622023-04-3003051162ns15:EnglandWales2023-05-012024-04-3003051162ns14:PoundSterling2023-05-012024-04-3003051162ns10:Director12023-05-012024-04-3003051162ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3003051162ns10:SmallEntities2023-05-012024-04-3003051162ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3003051162ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3003051162ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3003051162ns10:FullAccounts2023-05-012024-04-3003051162ns10:OrdinaryShareClass22023-05-012024-04-3003051162ns10:OrdinaryShareClass32023-05-012024-04-300305116242ns10:Director22023-04-300305116242ns10:Director22022-04-300305116242ns10:Director22023-05-012024-04-300305116242ns10:Director22022-05-012023-04-300305116242ns10:Director22024-04-300305116242ns10:Director22023-04-3003051162ns10:Director22023-05-012024-04-3003051162ns10:CompanySecretary12023-05-012024-04-3003051162ns10:RegisteredOffice2023-05-012024-04-3003051162ns5:CurrentFinancialInstruments2024-04-3003051162ns5:CurrentFinancialInstruments2023-04-3003051162ns5:Non-currentFinancialInstruments2024-04-3003051162ns5:Non-currentFinancialInstruments2023-04-3003051162ns5:ShareCapital2024-04-3003051162ns5:ShareCapital2023-04-3003051162ns5:RevaluationReserve2024-04-3003051162ns5:RevaluationReserve2023-04-3003051162ns5:RetainedEarningsAccumulatedLosses2024-04-3003051162ns5:RetainedEarningsAccumulatedLosses2023-04-3003051162ns5:ShortLeaseholdAssetsns5:LandBuildings2023-05-012024-04-3003051162ns5:PlantMachinery2023-05-012024-04-3003051162ns5:FurnitureFittings2023-05-012024-04-3003051162ns5:MotorVehicles2023-05-012024-04-3003051162ns5:ComputerEquipment2023-05-012024-04-3003051162ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-3003051162ns5:PlantMachinery2023-04-3003051162ns5:FurnitureFittings2023-04-3003051162ns5:ShortLeaseholdAssetsns5:LandBuildings2024-04-3003051162ns5:PlantMachinery2024-04-3003051162ns5:FurnitureFittings2024-04-3003051162ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-3003051162ns5:PlantMachinery2023-04-3003051162ns5:FurnitureFittings2023-04-3003051162ns5:MotorVehicles2023-04-3003051162ns5:ComputerEquipment2023-04-3003051162ns5:MotorVehicles2024-04-3003051162ns5:ComputerEquipment2024-04-3003051162ns5:MotorVehicles2023-04-3003051162ns5:ComputerEquipment2023-04-3003051162ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3003051162ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3003051162ns10:OrdinaryShareClass22024-04-3003051162ns10:OrdinaryShareClass32024-04-30030511621ns10:Director12023-04-30030511621ns10:Director12022-04-30030511621ns10:Director12023-05-012024-04-30030511621ns10:Director12022-05-012023-04-30030511621ns10:Director12024-04-30030511621ns10:Director12023-04-30
REGISTERED NUMBER: 03051162 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 April 2024

for

MQM Ltd

MQM Ltd (Registered number: 03051162)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MQM Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A Oswald
N Oswald





SECRETARY: N Oswald





REGISTERED OFFICE: Croft House
Grove Road
Burbage
Hinckley
Leicestershire
LE10 2AD





REGISTERED NUMBER: 03051162 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
MQM Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MQM Ltd for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MQM Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MQM Ltd and state those matters that we have agreed to state to the Board of Directors of MQM Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MQM Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MQM Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MQM Ltd. You consider that MQM Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MQM Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


8 January 2025

MQM Ltd (Registered number: 03051162)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 658,315 442,276

CURRENT ASSETS
Stocks 10,406 32,875
Debtors 5 2,123,031 2,159,581
Cash at bank and in hand 308,657 768,646
2,442,094 2,961,102
CREDITORS
Amounts falling due within one year 6 1,059,998 952,902
NET CURRENT ASSETS 1,382,096 2,008,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,040,411

2,450,476

CREDITORS
Amounts falling due after more than
one year

7

(17,058

)

(40,822

)

PROVISIONS FOR LIABILITIES (20,178 ) (92,195 )
NET ASSETS 2,003,175 2,317,459

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 228,031 -
Retained earnings 1,775,044 2,317,359
SHAREHOLDERS' FUNDS 2,003,175 2,317,459

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MQM Ltd (Registered number: 03051162)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





A Oswald - Director


MQM Ltd (Registered number: 03051162)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

MQM 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.

Turnover
Turnover represents the value of goods and services provided under contracts to the extent that there is right to consideration due. Where payments are received from customers in advance of work completed, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the term of the lease
Plant and machinery - 50% on cost and 20% reducing balance
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% reducing balance

During the year plant and machinery and motor vehicles, previously held in the accounts at cost, were revalued to market value.

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.


MQM Ltd (Registered number: 03051162)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a sum of digits basis.

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 43 (2023 - 49 ) .

MQM Ltd (Registered number: 03051162)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST OR VALUATION
At 1 May 2023 26,062 721,587 43,285
Additions 3,340 - 950
Disposals - - -
Revaluations - 217,959 -
At 30 April 2024 29,402 939,546 44,235
DEPRECIATION
At 1 May 2023 20,158 523,915 30,995
Charge for year 2,134 44,702 2,581
Eliminated on disposal - - -
At 30 April 2024 22,292 568,617 33,576
NET BOOK VALUE
At 30 April 2024 7,110 370,929 10,659
At 30 April 2023 5,904 197,672 12,290

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 436,992 17,163 1,245,089
Additions 15,320 5,064 24,674
Disposals (21,600 ) - (21,600 )
Revaluations 86,083 - 304,042
At 30 April 2024 516,795 22,227 1,552,205
DEPRECIATION
At 1 May 2023 213,285 14,460 802,813
Charge for year 59,109 1,554 110,080
Eliminated on disposal (19,003 ) - (19,003 )
At 30 April 2024 253,391 16,014 893,890
NET BOOK VALUE
At 30 April 2024 263,404 6,213 658,315
At 30 April 2023 223,707 2,703 442,276

MQM Ltd (Registered number: 03051162)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
Valuation in 2024 - 217,959 -
Cost 29,402 721,587 44,235
29,402 939,546 44,235

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2024 86,083 - 304,042
Cost 430,712 22,227 1,248,163
516,795 22,227 1,552,205

If plant and motor vehicles had not been revalued they would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 1,152,299 -
Aggregate depreciation 822,008 -

Plant and motor vehicles were valued on an open market basis on 30 April 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 301,669 609,132
Amounts recoverable on contract 988,069 821,346
Other debtors 833,293 729,103
2,123,031 2,159,581

MQM Ltd (Registered number: 03051162)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 23,764 37,678
Trade creditors 752,242 743,915
Taxation and social security 75,902 93,078
Other creditors 208,090 78,231
1,059,998 952,902

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 17,058 40,822

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 40,822 78,500

Assets held under hire purchase contracts are secured against the asset to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
50 Ordinary A shares 1 50 50
50 Ordinary B shares 1 50 50
100 100

10. RESERVES
Revaluation
reserve
£   
Revaluation 228,031

At 30 April 2024 228,031

MQM Ltd (Registered number: 03051162)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
A Oswald and N Oswald
Balance outstanding at start of year 335,892 338,080
Amounts advanced 174,916 -
Amounts repaid (143,024 ) (2,188 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 367,784 335,892

Loans are on an interest free basis and are repayable on demand.