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REGISTERED NUMBER: 11571352 (England and Wales)















Mayor Tech Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Mayor Tech Limited (Registered number: 11571352)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Mayor Tech Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: W A Mayor
Mrs H M Mayor





REGISTERED OFFICE: 310 Wellingborough Road
Northampton
NN1 4EP





REGISTERED NUMBER: 11571352 (England and Wales)





ACCOUNTANTS: Cheney & Co
310 Wellingborough Road
Northampton
NN1 4EP

Mayor Tech Limited (Registered number: 11571352)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2,000 2,500
Tangible assets 6 4,260 5,749
6,260 8,249

CURRENT ASSETS
Debtors 7 7,587 15,233
Cash at bank 19,264 25,637
26,851 40,870
CREDITORS
Amounts falling due within one year 8 2,311 8,338
NET CURRENT ASSETS 24,540 32,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,800

40,781

CREDITORS
Amounts falling due after more than one
year

9

7,050

7,031
NET ASSETS 23,750 33,750

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 23,650 33,650
SHAREHOLDERS' FUNDS 23,750 33,750

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

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

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 11th July 2024 and were signed on its behalf by:





W A Mayor - Director


Mayor Tech Limited (Registered number: 11571352)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Mayor Tech 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company in the year under review was that of software development & IT consultancy.

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.

3. ACCOUNTING POLICIES

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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.

Mayor Tech Limited (Registered number: 11571352)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 5,000
AMORTISATION
At 1st April 2023 2,500
Charge for year 500
At 31st March 2024 3,000
NET BOOK VALUE
At 31st March 2024 2,000
At 31st March 2023 2,500

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st April 2023 14,652 3,062 12,153 29,867
Additions - 1,316 320 1,636
At 31st March 2024 14,652 4,378 12,473 31,503
DEPRECIATION
At 1st April 2023 10,730 2,644 10,744 24,118
Charge for year 979 747 1,399 3,125
At 31st March 2024 11,709 3,391 12,143 27,243
NET BOOK VALUE
At 31st March 2024 2,943 987 330 4,260
At 31st March 2023 3,922 418 1,409 5,749

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors - 12,314
Other debtors 4,587 2,919
4,587 15,233

Mayor Tech Limited (Registered number: 11571352)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

7. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 3,000 -

Aggregate amounts 7,587 15,233

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,362 2,363
Taxation and social security (661 ) 4,988
Other creditors 610 987
2,311 8,338

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 7,050 7,031

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 A Ordinary Shares £1 90 90
10 B Ordinary Shares £1 10 10
100 100