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REGISTERED NUMBER: SC595525 (Scotland)















Unaudited Financial Statements

for the Period 1 May 2020 to 31 October 2021

for

MTEC Construction Ltd

MTEC Construction Ltd (Registered number: SC595525)






Contents of the Financial Statements
for the Period 1 May 2020 to 31 October 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MTEC Construction Ltd

Company Information
for the Period 1 May 2020 to 31 October 2021







DIRECTOR: M G Parker





REGISTERED OFFICE: Suite 3 & 4
Orbital House
3 Redwood Cerscent
East Kilbride
G74 5PA





REGISTERED NUMBER: SC595525 (Scotland)





ACCOUNTANTS: Oak Accountancy Solutions Ltd
Suite 3 & 4
Orbital House
3 Redwood Crescent
East Kilbride
Glasgow
G74 5PA

MTEC Construction Ltd (Registered number: SC595525)

Balance Sheet
31 October 2021

31.10.21 30.4.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,036 40,014

CURRENT ASSETS
Stocks 82,048 69,674
Debtors 5 99,661 104,549
Cash at bank - 55,311
181,709 229,534
CREDITORS
Amounts falling due within one year 6 163,727 226,015
NET CURRENT ASSETS 17,982 3,519
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,018

43,533

CREDITORS
Amounts falling due after more than one
year

7

(44,717

)

(8,610

)

PROVISIONS FOR LIABILITIES (5,861 ) (6,066 )
NET ASSETS 6,440 28,857

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 6,340 28,757
SHAREHOLDERS' FUNDS 6,440 28,857

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2021 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.

MTEC Construction Ltd (Registered number: SC595525)

Balance Sheet - continued
31 October 2021


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 24 August 2022 and were signed by:





M G Parker - Director


MTEC Construction Ltd (Registered number: SC595525)

Notes to the Financial Statements
for the Period 1 May 2020 to 31 October 2021

1. STATUTORY INFORMATION

MTEC Construction Ltd is a private company, limited by shares , registered in Scotland. 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 in respect of work done on contracts, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period 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 period 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 or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

MTEC Construction Ltd (Registered number: SC595525)

Notes to the Financial Statements - continued
for the Period 1 May 2020 to 31 October 2021

2. ACCOUNTING POLICIES - continued

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 period was 12 (2020 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2020 29,628 30,692 2,500 62,820
Additions 10,100 - - 10,100
At 31 October 2021 39,728 30,692 2,500 72,920
DEPRECIATION
At 1 May 2020 9,998 11,141 1,667 22,806
Charge for period 5,357 4,888 833 11,078
At 31 October 2021 15,355 16,029 2,500 33,884
NET BOOK VALUE
At 31 October 2021 24,373 14,663 - 39,036
At 30 April 2020 19,630 19,551 833 40,014

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2020
and 31 October 2021 14,000 5,000 19,000
DEPRECIATION
At 1 May 2020 3,500 1,250 4,750
Charge for period 2,625 937 3,562
At 31 October 2021 6,125 2,187 8,312
NET BOOK VALUE
At 31 October 2021 7,875 2,813 10,688
At 30 April 2020 10,500 3,750 14,250

MTEC Construction Ltd (Registered number: SC595525)

Notes to the Financial Statements - continued
for the Period 1 May 2020 to 31 October 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.21 30.4.20
£    £   
Trade debtors 32,503 37,302
Other debtors 67,158 67,247
99,661 104,549

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.21 30.4.20
£    £   
Bank loans and overdrafts 9,076 -
Hire purchase contracts 5,250 3,520
Trade creditors 111,636 80,788
Taxation and social security 35,233 43,345
Other creditors 2,532 98,362
163,727 226,015

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.21 30.4.20
£    £   
Bank loans 42,917 -
Hire purchase contracts 1,800 8,610
44,717 8,610

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 17,917 -

8. RESERVES
Retained
earnings
£   

At 1 May 2020 28,757
Deficit for the period (22,417 )
At 31 October 2021 6,340

9. RELATED PARTY DISCLOSURES

During the period, total dividends of £NIL (2020 - £60,000) were paid to the director.

The company operates a current account with its director, M Parker. At the year end M Parker was owed £2,531.79 ( 2020 - £35,086.74). The loan is non-interest bearing.