2022-12-012023-11-302023-11-30falseSC351299M-Tec Drafting (UK) 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M-Tec Drafting (UK) Limited

Registered Number
SC351299
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

M-Tec Drafting (UK) Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Andrew Bernat
Morgan Lally

Registered Address

Office 5, Business Incubator Kirkcaldy Myregormie Place
Mitchelston Industrial Estate
Kirkcaldy
KY1 3NA

Registered Number

SC351299 (Scotland)
M-Tec Drafting (UK) Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,3181,876
2,3181,876
Current assets
Debtors414,74815,185
Cash at bank and on hand31,43817,296
46,18632,481
Creditors amounts falling due within one year5(118,230)(118,230)
Net current assets (liabilities)(72,044)(85,749)
Total assets less current liabilities(69,726)(83,873)
Provisions for liabilities(440)(356)
Net assets(70,166)(84,229)
Capital and reserves
Called up share capital22
Profit and loss account(70,168)(84,231)
Shareholders' funds(70,166)(84,229)
The financial statements were approved and authorised for issue by the Board of Directors on 2 July 2024, and are signed on its behalf by:
Andrew Bernat
Director
Morgan Lally
Director

Registered Company No. SC351299
M-Tec Drafting (UK) Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The financial statements have been prepared on the going concern basis. The directors find it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the directors who have confirmed that they will continue to support the company as required.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Deferred tax on losses amount to £19,611 in the prior year and £17,008 in the current year. It is not prudent to provide for these given the uncertainty of future trading profits.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Reducing balance (%)Straight line (years)
Plant and machinery-4
Fixtures and fittings15-
Office Equipment33-
2.Average number of employees

20232022
Average number of employees during the year34
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 December 22-4,29133,17537,466
Additions1,192--1,192
At 30 November 231,1924,29133,17538,658
Depreciation and impairment
At 01 December 22-3,77631,81435,590
Charge for year22378449750
At 30 November 232233,85432,26336,340
Net book value
At 30 November 239694379122,318
At 30 November 22-5151,3611,876
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables12,50013,100
Other debtors1,9621,822
Prepayments and accrued income286263
Total14,74815,185
5.Creditors: amounts due within one year

2023

2022

££
Taxation and social security587587
Other creditors116,923116,923
Accrued liabilities and deferred income720720
Total118,230118,230