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REGISTERED NUMBER: SC680747 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

MTEK (Glasgow) Ltd

MTEK (Glasgow) Ltd (Registered number: SC680747)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MTEK (Glasgow) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr M C Drummond





REGISTERED OFFICE: Unit 5
Hunter Road
Rutherglen
Glasgow
G73 1LB





REGISTERED NUMBER: SC680747 (Scotland)





ACCOUNTANTS: Greg Hannah Ltd
Chartered Accountants
26 Victoria Street
Rutherglen
Glasgow
G73 1DS

MTEK (Glasgow) Ltd (Registered number: SC680747)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,225 -

CURRENT ASSETS
Debtors 6 - 3,350
Cash at bank and in hand 18,062 11,515
18,062 14,865
CREDITORS
Amounts falling due within one year 7 14,632 10,727
NET CURRENT ASSETS 3,430 4,138
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,655

4,138

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,555 4,038
4,655 4,138

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 28 November 2023 and were signed by:





Mr M C Drummond - Director


MTEK (Glasgow) Ltd (Registered number: SC680747)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

MTEK (Glasgow) 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. STATEMENT OF COMPLIANCE

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. There was no material departure from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from motor repairs and MOT services provided by the company.

Turnover is measured at the fair value of the services provided, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

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 etc - 25% on cost

Taxation
Taxation for the year comprises current 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 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.

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.

Going concern
The director believes that the company is producing good level of sales and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a strong expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MTEK (Glasgow) Ltd (Registered number: SC680747)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,633
At 31 March 2023 1,633
DEPRECIATION
Charge for year 408
At 31 March 2023 408
NET BOOK VALUE
At 31 March 2023 1,225

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 3,350

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 10,930 8,206
Other creditors 3,702 2,521
14,632 10,727

8. RELATED PARTY DISCLOSURES

At the 31st March 2023, the company owed Mr M Drummond (Director) £1,330 (2022: £1,812) and Mr T Drummond (Shareholder) £2,372 (2022: £709).

These loans are interest free and have no fixed repayment terms.