C & M Wealth Group Ltd

C & M Wealth Group Ltd

C & M WEALTH GROUP LTD - Company Information

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1 October 2018 false No description of principal activity Taxfiler 2019.12.Web 07791061business:PrivateLimitedCompanyLtd2018-10-012019-09-30 077910612018-09-30 077910612018-10-012019-09-30 07791061business:AuditExemptWithAccountantsReport2018-10-012019-09-30 07791061business:FullAccounts2018-10-012019-09-30 077910612019-09-30 07791061business:Director12018-10-012019-09-30 07791061business:Director32018-10-012019-09-30 07791061business:RegisteredOffice2018-10-012019-09-30 077910612018-09-30 07791061core:WithinOneYear2019-09-30 07791061core:WithinOneYear2018-09-30 07791061core:AfterOneYear2019-09-30 07791061core:AfterOneYear2018-09-30 07791061core:ShareCapital2019-09-30 07791061core:ShareCapital2018-09-30 07791061core:RetainedEarningsAccumulatedLosses2019-09-30 07791061core:RetainedEarningsAccumulatedLosses2018-09-30 07791061business:SmallEntities2018-10-012019-09-30 07791061countries:EnglandWales2018-10-012019-09-30 07791061core:PlantMachinery2018-10-012019-09-30 07791061core:PlantMachinery2018-09-30 07791061core:PlantMachinery2019-09-30 077910612017-10-012018-09-30 iso4217:GBP xbrli:pure
Company Registration No. 07791061 (England and Wales)
C & M Wealth Group Ltd Unaudited accounts for the year ended 30 September 2019
C & M Wealth Group Ltd Unaudited accounts Contents
Page
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C & M Wealth Group Ltd Company Information for the year ended 30 September 2019
Directors
Ming Chen Changfei Li
Company Number
07791061 (England and Wales)
Registered Office
1 King William Street London EC4N 7AF
Accountants
Vincent Lim 70 Dowdeswell Close London SW15 5RL
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C & M Wealth Group Ltd Statement of financial position as at 30 September 2019
2019 
2018 
Notes
£ 
£ 
Fixed assets
Investments
5
100 
100 
Current assets
Debtors
6
7,222,024 
7,415,126 
Cash at bank and in hand
118,214 
862,443 
7,340,238 
8,277,569 
Creditors: amounts falling due within one year
7
(3,112,781)
(3,101,079)
Net current assets
4,227,457 
5,176,490 
Total assets less current liabilities
4,227,557 
5,176,590 
Creditors: amounts falling due after more than one year
8
(4,000,000)
(5,000,000)
Net assets
227,557 
176,590 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
227,457 
176,490 
Shareholders' funds
227,557 
176,590 
For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 February 2020.
Ming Chen Director Company Registration No. 07791061
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C & M Wealth Group Ltd Notes to the Accounts for the year ended 30 September 2019
1
Statutory information
C & M Wealth Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 07791061. The registered office is 1 King William Street, London, EC4N 7AF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25%
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 October 2018
1,819 
At 30 September 2019
1,819 
Depreciation
At 1 October 2018
1,819 
At 30 September 2019
1,819 
Net book value
At 30 September 2019
- 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 October 2018
100 
Valuation at 30 September 2019
100 
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C & M Wealth Group Ltd Notes to the Accounts for the year ended 30 September 2019
6
Debtors
2019 
2018 
£ 
£ 
Trade debtors
4,502,959 
6,350,659 
Amounts due from group undertakings etc.
2,643,199 
880,292 
Accrued income and prepayments
75,866 
1,875 
Other debtors
- 
182,300 
7,222,024 
7,415,126 
7
Creditors: amounts falling due within one year
2019 
2018 
£ 
£ 
Trade creditors
1,750,000 
2,463,608 
Amounts owed to group undertakings and other participating interests
1,198,451 
303,121 
Taxes and social security
31,014 
34,915 
Other creditors
2,501 
- 
Loans from directors
129,405 
153,405 
Accruals
1,410 
42,552 
Deferred income
- 
103,478 
3,112,781 
3,101,079 
8
Creditors: amounts falling due after more than one year
2019 
2018 
£ 
£ 
Trade creditors
4,000,000 
5,000,000 
9
Transactions with related parties
Loan Capital Investment regarding Ms Xiaolin Gu Ms Xiaolin Gu has invested £750,000.00 into the company which is included in the total amount of unsecured loan capital of £5,750,000.00 shown as creditors at the balance sheet date. The investment took place on 21st May 2015 between Ms Xiaolin Gu & C & M Wealth Group Ltd. In accordance with the terms agreed between Ms Xiaolin Gu & C & M Wealth Group Ltd, the funds loaned by Ms Xiaolin Gu were utilised by the company in the ordinary course of its trading activities and remained so at the balance sheet date.
10
Average number of employees
During the year the average number of employees was 0 (2018: 0).
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