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REGISTERED NUMBER: 05716289 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

MTEX (UK) Limited

MTEX (UK) Limited (Registered number: 05716289)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MTEX (UK) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M Harrison





SECRETARY: Mrs M Harrison





REGISTERED OFFICE: 27 Forest Drive
Lytham St Annes
FY8 4QF





REGISTERED NUMBER: 05716289 (England and Wales)





ACCOUNTANTS: Nathans
Chartered Certified Accountants
Trident Business Centre
Amy Johnson Way
Blackpool
Lancashire
FY4 2RP

MTEX (UK) Limited (Registered number: 05716289)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 115 154

CURRENT ASSETS
Stocks 23,187 57,649
Debtors 5 10,464 17,575
Cash at bank 9,505 11,903
43,156 87,127
CREDITORS
Amounts falling due within one year 6 (38,373 ) (75,316 )
NET CURRENT ASSETS 4,783 11,811
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,898

11,965

PROVISIONS FOR LIABILITIES (52 ) (52 )
NET ASSETS 4,846 11,913

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 4,845 11,912
SHAREHOLDERS' FUNDS 4,846 11,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

MTEX (UK) Limited (Registered number: 05716289)

Balance Sheet - continued
31 December 2023


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 10 September 2024 and were signed by:





M Harrison - Director


MTEX (UK) Limited (Registered number: 05716289)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

MTEX (UK) 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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

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 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.

MTEX (UK) Limited (Registered number: 05716289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 3,139
DEPRECIATION
At 1 January 2023 2,985
Charge for year 39
At 31 December 2023 3,024
NET BOOK VALUE
At 31 December 2023 115
At 31 December 2022 154

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 10,464 17,575

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 30,735 55,565
Taxation and social security 4,157 5,272
Other creditors 3,481 14,479
38,373 75,316

MTEX (UK) Limited (Registered number: 05716289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
M Harrison
Balance outstanding at start of year (13,629 ) (7,104 )
Amounts advanced 35,006 68,551
Amounts repaid (24,008 ) (75,076 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,631 ) (13,629 )

There is no formal agreement for the provision of the directors loan account. No interest is payable regardless of the balance and an overdrawn balance is repayable upon demand.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Harrison.