1 June 2023 false No description of principal activity Taxfiler 2024.6 11068303business:PrivateLimitedCompanyLtd2023-06-012024-05-31 110683032023-05-31 110683032023-06-012024-05-31 11068303business:AuditExemptWithAccountantsReport2023-06-012024-05-31 11068303business:FilletedAccounts2023-06-012024-05-31 110683032024-05-31 11068303business:Director12023-06-012024-05-31 11068303business:Director22023-06-012024-05-31 11068303business:Director52023-06-012024-05-31 11068303business:Director62023-06-012024-05-31 11068303business:Director72023-06-012024-05-31 11068303business:Director82023-06-012024-05-31 11068303business:Director92023-06-012024-05-31 11068303business:RegisteredOffice2023-06-012024-05-31 110683032023-05-31 11068303core:WithinOneYear2024-05-31 11068303core:WithinOneYear2023-05-31 11068303core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 11068303core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 11068303core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 11068303core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 11068303core:PreviouslyStatedAmount2024-05-31 11068303core:PreviouslyStatedAmount2023-05-31 11068303business:SmallEntities2023-06-012024-05-31 11068303countries:EnglandWales2023-06-012024-05-31 11068303core:FurnitureFittings2023-06-012024-05-31 11068303core:FurnitureFittings2023-05-31 11068303core:FurnitureFittings2024-05-31 110683032022-06-012023-05-31 iso4217:GBP xbrli:pure
Company Registration No. 11068303 (England and Wales)
MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED Unaudited accounts for the year ended 31 May 2024
MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED Unaudited accounts Contents
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MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED Company Information for the year ended 31 May 2024
Directors
Sally Cole Helen George Robert Barrett Abigail Rockett Dr Michael Smith Robert Wright Aaron Marchant
Company Number
11068303 (England and Wales)
Registered Office
Central Community Centre Emlyn Square, SWINDON WILTSHIRE SN1 5BP UNITED KINGDOM
Accountants
Asset Accounting (Swindon) Ltd Second Floor 11-12 Market Place Faringdon Oxfordshire SN7 7HP
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MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED Accountants' report
Accountants' report to the board of directors of MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 May 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 May 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Asset Accounting (Swindon) Ltd Second Floor 11-12 Market Place Faringdon Oxfordshire SN7 7HP 29 September 2024
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MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,127 
1,629 
Current assets
Debtors
1,425 
2,391 
Cash at bank and in hand
37,645 
20,832 
39,070 
23,223 
Creditors: amounts falling due within one year
(10,961)
(805)
Net current assets
28,109 
22,418 
Net assets
29,236 
24,047 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
29,235 
24,046 
Shareholders' funds
29,236 
24,047 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by
Sally Cole Director Company Registration No. 11068303
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MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11068303. The registered office is Central Community Centre, Emlyn Square, , SWINDON, WILTSHIRE, SN1 5BP, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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. Sales income is rental of the Bakers Cafe to other companies/individuals/groups etc. Other revenue is rental of flats approve the Bakers Cafe.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% SL
Taxation
The Tax expense for the period comprises of current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted by the reporting date in the countries where the company operates and generates taxable income.
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MECHANICS' INSTITUTION TRUST ENTERPRISES LIMITED Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2023
6,290 
At 31 May 2024
6,290 
Depreciation
At 1 June 2023
4,661 
Charge for the year
502 
At 31 May 2024
5,163 
Net book value
At 31 May 2024
1,127 
At 31 May 2023
1,629 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,375 
- 
Amounts due from group undertakings etc.
50 
2,391 
1,425 
2,391 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
172 
- 
Amounts owed to group undertakings and other participating interests
8,079 
- 
Taxes and social security
1,560 
225 
Other creditors
500 
- 
Accruals
650 
580 
10,961 
805 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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