1 28/02/2023 2023-02-28 false false false false false false false false false false true false false true false false false false false false false 2022-03-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03507392 2022-03-01 2023-02-28 03507392 2023-02-28 03507392 2022-02-28 03507392 2021-03-01 2022-02-28 03507392 2022-02-28 03507392 bus:RegisteredOffice 2022-03-01 2023-02-28 03507392 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 03507392 bus:LeadAgentIfApplicable 2022-03-01 2023-02-28 03507392 bus:Director1 2022-03-01 2023-02-28 03507392 bus:CompanySecretary1 2022-03-01 2023-02-28 03507392 core:FurnitureFittingsToolsEquipment 2022-02-28 03507392 core:FurnitureFittingsToolsEquipment 2023-02-28 03507392 core:WithinOneYear 2023-02-28 03507392 core:WithinOneYear 2022-02-28 03507392 core:ShareCapital 2023-02-28 03507392 core:ShareCapital 2022-02-28 03507392 core:RetainedEarningsAccumulatedLosses 2023-02-28 03507392 core:RetainedEarningsAccumulatedLosses 2022-02-28 03507392 bus:OrdinaryShareClass1 core:ShareCapital 2023-02-28 03507392 bus:OrdinaryShareClass1 core:ShareCapital 2022-02-28 03507392 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 03507392 core:FurnitureFittingsToolsEquipment 2022-02-28 03507392 bus:Director1 2022-02-28 03507392 bus:Director1 2023-02-28 03507392 bus:SmallEntities 2022-03-01 2023-02-28 03507392 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 03507392 bus:FullAccounts 2022-03-01 2023-02-28 03507392 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 03507392 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 03507392 core:PlantMachinery 2022-03-01 2023-02-28
MTN Consultants Limited
Filleted accounts
28 February 2023
Company registration number: 03507392
MTN Consultants Limited
Directors and other information
Director C P Martin
Secretary J Martin
Company number 03507392
Registered office The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
MTN Consultants Limited
Balance sheet
28th February 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 462 708
_______ _______
462 708
Current assets
Debtors 6 83,035 64,442
Cash at bank and in hand 1 1
_______ _______
83,036 64,443
Creditors: amounts falling due
within one year 7 ( 69,781) ( 61,936)
_______ _______
Net current assets 13,255 2,507
_______ _______
Net assets 13,717 3,215
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account 13,617 3,115
_______ _______
Shareholders funds 13,717 3,215
_______ _______
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 November 2023 , and are signed on behalf of the board by:
C P Martin
Director
Company registration number: 03507392
MTN Consultants Limited
Notes to the financial statements
Year ended 28th February 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be the provision of computer consultancy services .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - Straight line basis at 25% per annum
Office equipment - Reducing balance basis at 25% per annum
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1st March 2022 and 28th February 2023 1,412 1,412
_______ _______
Depreciation
At 1st March 2022 704 704
Charge for the year 246 246
_______ _______
At 28th February 2023 950 950
_______ _______
Carrying amount
At 28th February 2023 462 462
_______ _______
At 28th February 2022 708 708
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 10,140 3,600
Other debtors 72,895 60,842
_______ _______
83,035 64,442
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank overdraft 3,761 3,039
Social security and other taxes 54,120 57,553
Other creditors 11,900 1,344
_______ _______
69,781 61,936
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward Advances /(credits) to the director Amounts repaid Amounts written off Amounts waived Balance o/standing
£ £ £ £ £ £
C P Martin 47,587 12,053 - - - 59,640
_______ _______ _______ _______ _______ _______
10. Controlling party
The company is under the control of C P Martin who owns 51% of the issued share capital.