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REGISTERED NUMBER: 03928755 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 March 2024

for

Mitech Consultants Limited

Mitech Consultants Limited (Registered number: 03928755)

Contents of the Financial Statements
For The Year Ended 31 March 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Mitech Consultants Limited

Company Information
For The Year Ended 31 March 2024







Director: M J A Little





Registered office: Wainscot
Heath Road, Warboys
Huntingdon
Cambridgeshire
PE28 2UW





Registered number: 03928755 (England and Wales)





Accountants: R Vann Ltd
Chartered Certified Accountants
Ironstone House
Ironstone Way
Brixworth
Northamptonshire
NN6 9UD

Mitech Consultants Limited (Registered number: 03928755)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 373,924 326,904
Investment property 5 - 677,764
373,924 1,004,668

Current assets
Stocks 48,887 48,512
Debtors 6 2,207,877 6,125,133
Cash at bank and in hand 307,380 294,756
2,564,144 6,468,401
Creditors
Amounts falling due within one year 7 1,048,938 5,128,044
Net current assets 1,515,206 1,340,357
Total assets less current liabilities 1,889,130 2,345,025

Creditors
Amounts falling due after more than
one year

8

(190,330

)

(215,259

)

Provisions for liabilities 9 (63,257 ) (52,165 )
Net assets 1,635,543 2,077,601

Mitech Consultants Limited (Registered number: 03928755)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 130,510 130,510
Share premium 261,180 261,180
Capital redemption reserve 76,770 76,770
Retained earnings 1,167,083 1,609,141
Shareholders' funds 1,635,543 2,077,601

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 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 19 August 2024 and were signed by:





M J A Little - Director


Mitech Consultants Limited (Registered number: 03928755)

Notes to the Financial Statements
For The Year Ended 31 March 2024


1. Statutory information

Mitech Consultants 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Land and buildings - 15% on reducing balance
Plant and machinery etc - 25% on cost, 25% on reducing balance and 20% 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.

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


Mitech Consultants Limited (Registered number: 03928755)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


2. Accounting policies - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 20 (2023 - 20 ) .

Mitech Consultants Limited (Registered number: 03928755)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


4. Tangible fixed assets
Equipment
Short & computer Motor
leasehold systems vehicles Totals
£    £    £    £   
Cost
At 1 April 2023 236,716 809,777 269,680 1,316,173
Additions 49,289 19,156 122,245 190,690
Disposals - - (85,398 ) (85,398 )
At 31 March 2024 286,005 828,933 306,527 1,421,465
Depreciation
At 1 April 2023 189,754 699,922 99,593 989,269
Charge for year 13,357 44,141 51,990 109,488
Eliminated on disposal - - (51,216 ) (51,216 )
At 31 March 2024 203,111 744,063 100,367 1,047,541
Net book value
At 31 March 2024 82,894 84,870 206,160 373,924
At 31 March 2023 46,962 109,855 170,087 326,904

5. Investment property
Total
£   
Fair value
At 1 April 2023 677,764
Disposals (677,764 )
At 31 March 2024 -
Net book value
At 31 March 2024 -
At 31 March 2023 677,764

Mitech Consultants Limited (Registered number: 03928755)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


6. Debtors
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 665,974 5,098,758
Other debtors 87,525 26,392
753,499 5,125,150

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,454,378 999,983

Aggregate amounts 2,207,877 6,125,133

7. Creditors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 14,250
Hire purchase contracts 45,737 25,168
Payments on account 29,089 306,962
Trade creditors 142,235 3,542,312
Amounts owed to group undertakings 645,000 621,832
Taxation and social security 61,178 422,139
Other creditors 125,699 195,381
1,048,938 5,128,044

8. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£    £   
Bank loans - 3,975
Hire purchase contracts 124,971 80,429
Other creditors 65,359 130,855
190,330 215,259

Mitech Consultants Limited (Registered number: 03928755)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024


9. Provisions for liabilities
31.3.24 31.3.23
£    £   
Deferred tax 63,257 52,165

Deferred
tax
£   
Balance at 1 April 2023 52,165
Provided during year 11,092
Balance at 31 March 2024 63,257

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
130,510 Ordinary £1 130,510 130,510

11. Ultimate controlling party

The ultimate controlling party is Breve Technology Holdings Ltd.

The ultimate holding company is incorporated in the United Kingdom.