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COMPANY REGISTRATION NUMBER: 11904048
Mortel Meister UK Ltd
Filleted Unaudited Financial Statements
30 April 2024
Mortel Meister UK Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Mortel Meister UK Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Current assets
Stocks
419,318
445,127
Debtors
4
4,375
18,870
Cash at bank and in hand
9,940
6,399
----------
----------
433,633
470,396
Creditors: amounts falling due within one year
5
398,734
437,251
----------
----------
Net current assets
34,899
33,145
--------
--------
Total assets less current liabilities
34,899
33,145
--------
--------
Net assets
34,899
33,145
--------
--------
Capital and reserves
Called up share capital
6
1
1
Profit and loss account
34,898
33,144
--------
--------
Shareholders funds
34,899
33,145
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Mortel Meister UK Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 1 November 2024 , and are signed on behalf of the board by:
Mr S L Warner
Director
Company registration number: 11904048
Mortel Meister UK Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, England, HA2 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2024
2023
£
£
Trade debtors
2,864
8,106
Other debtors
1,511
10,764
-------
--------
4,375
18,870
-------
--------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,077
103,172
Accruals and deferred income
1,200
1,200
Corporation tax
873
3,329
Director loan accounts
12
12
Other creditors
393,572
329,538
----------
----------
398,734
437,251
----------
----------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
7. Related party transactions
Transactions with related parties, such as are required to be disclosed under FRS 102 were as follows:
20242023
££
Other related parties:
Balances owed by/(owed to):(393,572)(329,538)
--------------------
The amounts owed by/(owed to) related parties are in respect of short term interest free loans.