MTGD Software Services Limited |
Registered number: |
10262747 |
Balance Sheet |
as at 2 October 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Current assets |
Debtors |
4 |
|
57,815 |
|
|
149,259 |
Cash at bank and in hand |
|
|
78,413 |
|
|
55,685 |
|
|
|
136,228 |
|
|
204,944 |
|
Creditors: amounts falling due within one year |
5 |
|
(4,722) |
|
|
(25,107) |
|
Net current assets |
|
|
|
131,506 |
|
|
179,837 |
|
Net assets |
|
|
|
131,506 |
|
|
179,837 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
131,406 |
|
|
179,737 |
|
Shareholders' funds |
|
|
|
131,506 |
|
|
179,837 |
|
|
|
|
|
|
|
|
The directors are 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 directors acknowledge their 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. |
|
|
|
|
Rowland Hall |
Director |
Approved by the board on 3 October 2024 |
|
MTGD Software Services Limited |
Notes to the Accounts |
for the period from 1 August 2023 to 2 October 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). As explained in note 6 to the financial statements, the company will cease trading on 2nd October 2024 and the financial statements have been prepared on a basis other than the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
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: |
|
|
Plant and machinery |
over 3 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
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. |
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 August 2023 |
1,334 |
|
Additions |
857 |
|
Disposals |
(2,191) |
|
At 2 October 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2023 |
1,334 |
|
Charge for the period |
286 |
|
On disposals |
(1,620) |
|
At 2 October 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 2 October 2024 |
- |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
57,815 |
|
149,259 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Taxation and social security costs |
4,722 |
|
25,107 |
|
|
|
|
|
|
|
|
|
|
6 |
Going Concern Basis |
|
|
The financial statements are prepared using a basis other than going concern. The directors intend to cease trading and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. |
|
|
7 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
Rowland Hall |
|
Director's Loan Account |
(9,423) |
|
11,178 |
|
(59,390) |
|
(57,635) |
|
|
|
(9,423) |
|
11,178 |
|
(59,390) |
|
(57,635) |
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
Related party transactions |
|
|
At the year end a director owed £57,635 (2023:£9,423) from the company. As of balance sheet signing date, this has not been paid in full. |
|
|
9 |
Other information |
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|
MTGD Software Services Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
1 Northway |
|
Altrincham |
|
Cheshire |
|
WA14 1NN |