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REGISTERED NUMBER: 05021729 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Machining Techniques Ltd

Machining Techniques Ltd (Registered number: 05021729)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Machining Techniques Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D Ditchburn
Mrs D Ditchburn





SECRETARY:





REGISTERED OFFICE: 3 Kelvin Grove
South Shields
Tyne and Wear
NE33 3HU





REGISTERED NUMBER: 05021729 (England and Wales)





ACCOUNTANTS: Grosvenor Business and Accountancy Services Ltd
Unit 214
South Shields Business Works
Henry Robson Way
South Shields
Tyne and Wear
NE33 1RF

Machining Techniques Ltd (Registered number: 05021729)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 254,923 255,269

CURRENT ASSETS
Debtors 5 (605 ) 15,180
Cash at bank and in hand 33,944 43,610
33,339 58,790
CREDITORS
Amounts falling due within one year 6 7,617 30,528
NET CURRENT ASSETS 25,722 28,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

280,645

283,531

CREDITORS
Amounts falling due after more than one
year

7

97,592

97,585
NET ASSETS 183,053 185,946

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 183,051 185,944
SHAREHOLDERS' FUNDS 183,053 185,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

Machining Techniques Ltd (Registered number: 05021729)

Balance Sheet - continued
31 January 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 16 April 2024 and were signed on its behalf by:





D Ditchburn - Director


Machining Techniques Ltd (Registered number: 05021729)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Machining Techniques 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Machining Techniques Ltd (Registered number: 05021729)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 253,882 32,845 286,727
DEPRECIATION
At 1 February 2023 - 31,458 31,458
Charge for year - 346 346
At 31 January 2024 - 31,804 31,804
NET BOOK VALUE
At 31 January 2024 253,882 1,041 254,923
At 31 January 2023 253,882 1,387 255,269

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors (605 ) 15,180

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors (139 ) 22,141
Taxation and social security 6,239 6,870
Other creditors 1,517 1,517
7,617 30,528

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other creditors 97,592 97,585