Registered number
05132079
MICROTEL UK LTD
Unaudited Filleted Accounts
31 May 2024
MICROTEL UK LTD
Registered number: 05132079
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,272,197 9,403,646
Current assets
Debtors 4 15,664 64,456
Cash at bank and in hand 270,918 128,524
286,582 192,980
Creditors: amounts falling due within one year 5 (6,822,169) (6,822,169)
Net current liabilities (6,535,587) (6,629,189)
Total assets less current liabilities 2,736,610 2,774,457
Creditors: amounts falling due after more than one year 6 (101,740) (353,221)
Net assets 2,634,870 2,421,236
Capital and reserves
Called up share capital 4,000,000 4,000,000
Profit and loss account (1,365,130) (1,578,764)
Shareholders' funds 2,634,870 2,421,236
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M M Abrischamchi
Director
Approved by the board on 10 July 2024
MICROTEL UK LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the invoiced value of sales of mobile phones and consultancy fees received during the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 25% reducing balance method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 10,609,227 858,983 11,468,210
At 31 May 2024 10,609,227 858,983 11,468,210
Depreciation
At 1 June 2023 1,262,030 802,534 2,064,564
Charge for the year 117,336 14,113 131,449
At 31 May 2024 1,379,366 816,647 2,196,013
Net book value
At 31 May 2024 9,229,861 42,336 9,272,197
At 31 May 2023 9,347,197 56,449 9,403,646
4 Debtors 2024 2023
£ £
Trade debtors - 50,000
Social Security & Other Taxes 15,664 10,048
Other debtors - 4,408
15,664 64,456
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank Loans 228,000 228,000
Director's Loan Account 6,588,557 6,588,557
Other creditors 5,612 5,612
6,822,169 6,822,169
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 101,740 353,221
101,740 353,221
7 Other information
MICROTEL UK LTD is a private company limited by shares and incorporated in England. Its registered office is:
11 John Princes Street
London
W1G 0JR
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