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REGISTERED NUMBER: 11161026 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

MW VEHICLE TECH LIMITED

MW VEHICLE TECH LIMITED (REGISTERED NUMBER: 11161026)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MW VEHICLE TECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: M E Wallis





REGISTERED OFFICE: 15B St James Road
St James Industrial Estate
Corby
Northamptonshire
NN18 8AL





REGISTERED NUMBER: 11161026 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

MW VEHICLE TECH LIMITED (REGISTERED NUMBER: 11161026)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,719 36,751

CURRENT ASSETS
Debtors 5 17,223 15,387
Cash at bank and in hand 97,241 82,564
114,464 97,951
CREDITORS
Amounts falling due within one year 6 81,108 97,411
NET CURRENT ASSETS 33,356 540
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,075

37,291

CREDITORS
Amounts falling due after more than one
year

7

(25,083

)

(29,312

)

PROVISIONS FOR LIABILITIES (6,026 ) -
NET ASSETS 33,966 7,979

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 33,866 7,879
33,966 7,979

MW VEHICLE TECH LIMITED (REGISTERED NUMBER: 11161026)

BALANCE SHEET - continued
31ST JANUARY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13th August 2024 and were signed by:





M E Wallis - Director


MW VEHICLE TECH LIMITED (REGISTERED NUMBER: 11161026)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

MW Vehicle 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 (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
The company is party to only basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MW VEHICLE TECH LIMITED (REGISTERED NUMBER: 11161026)

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


2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st February 2023 31,103 1,462 27,400 1,107 61,072
Additions 4,180 - - - 4,180
At 31st January 2024 35,283 1,462 27,400 1,107 65,252
DEPRECIATION
At 1st February 2023 16,258 1,096 6,455 512 24,321
Charge for year 3,736 91 5,236 149 9,212
At 31st January 2024 19,994 1,187 11,691 661 33,533
NET BOOK VALUE
At 31st January 2024 15,289 275 15,709 446 31,719
At 31st January 2023 14,845 366 20,945 595 36,751

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,926 12,346
PAYE and NIC - 285
Prepayments and accrued income 4,297 2,756
17,223 15,387

MW VEHICLE TECH LIMITED (REGISTERED NUMBER: 11161026)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,229 4,482
Trade creditors 21,671 25,641
Corporation tax 5,948 -
PAYE and NIC 529 -
VAT 7,414 2,940
Other creditors 23,824 1,131
Pension creditor 31 251
Directors' current accounts 13,842 60,842
Accruals and deferred income 3,620 2,124
81,108 97,411

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 4,349 4,229
Bank loans - 2-5 years 20,734 13,810
Bank loans more than 5 years
by instalment - 11,273
25,083 29,312

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalment - 11,273
- 11,273

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 29,312 33,794

Bank loans are secured under the UK government Bounce Back loan scheme providing a full guarantee on the outstanding amount.

9. RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were all concluded under normal market conditions.