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REGISTERED NUMBER: 04371158 (England and Wales)











MHT ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MHT ENTERPRISES LIMITED (REGISTERED NUMBER: 04371158)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MHT ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr M H Tavakoli
Mr J M Tavakoli





SECRETARY: Mr J Tavakoli





REGISTERED OFFICE: Spitfire Way
Sherburn Enterprise Park
Sherburn in Elmet
Leeds
North Yorkshire
LS25 6NW





REGISTERED NUMBER: 04371158 (England and Wales)





ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
YO19 5UW

MHT ENTERPRISES LIMITED (REGISTERED NUMBER: 04371158)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 695,193 635,024
Investment property 6 250,000 250,000
945,193 885,024

CURRENT ASSETS
Stocks 4,300 2,000
Debtors 438,284 327,047
Cash at bank and in hand 88,416 133,537
531,000 462,584
CREDITORS
Amounts falling due within one year 92,652 106,253
NET CURRENT ASSETS 438,348 356,331
TOTAL ASSETS LESS CURRENT LIABILITIES 1,383,541 1,241,355

PROVISIONS FOR LIABILITIES 73,452 70,911
NET ASSETS 1,310,089 1,170,444

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings: non-distributable 89,691 89,691
Retained earnings 1,220,397 1,080,752
SHAREHOLDERS' FUNDS 1,310,089 1,170,444

MHT ENTERPRISES LIMITED (REGISTERED NUMBER: 04371158)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2024 and were signed on its behalf by:





Mr M H Tavakoli - Director


MHT ENTERPRISES LIMITED (REGISTERED NUMBER: 04371158)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

MHT Enterprises Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents vehicle hire along with gym subscriptions, excluding value added tax.

Goodwill
Goodwill being the amount paid in connection with the acquisition of businesses has been amortised evenly over their estimated useful lives.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 10% straight line and 10% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transactions costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in fair value of investment properties are included in the Statement of Comprehensive Income in the period in which they arise.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. 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 equity.

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.


MHT ENTERPRISES LIMITED (REGISTERED NUMBER: 04371158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Government grants
Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate.

Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity are recognised in the period in which they become receivable

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 9,501
AMORTISATION
At 1 April 2023
and 31 March 2024 9,501
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

MHT ENTERPRISES LIMITED (REGISTERED NUMBER: 04371158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 1,170,930
Additions 193,134
Disposals (118,138 )
At 31 March 2024 1,245,926
DEPRECIATION
At 1 April 2023 535,906
Charge for year 98,415
Eliminated on disposal (83,588 )
At 31 March 2024 550,733
NET BOOK VALUE
At 31 March 2024 695,193
At 31 March 2023 635,024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 250,000
NET BOOK VALUE
At 31 March 2024 250,000
At 31 March 2023 250,000

The investment properties are included at the directors assessment of market value.

The amount credited to the Profit and Loss Account during the year was £Nil (2023: £Nil, 2022 £100,000).

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 ordinary £1 1 1

MHT ENTERPRISES LIMITED (REGISTERED NUMBER: 04371158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr M H Tavakoli
Balance outstanding at start of year 44,389 18,955
Amounts advanced 10,599 55,434
Amounts repaid (32,027 ) (30,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,961 44,389

The loan to the director is charged at 0% interest with no fixed repayment terms.