Registered number
10621490
Mowtech Ltd
Filleted Accounts
29 February 2024
Mowtech Ltd
Registered number: 10621490
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 108,296 74,494
Current assets
Debtors 4 (574) 1,603
Cash at bank and in hand 10,453 2,068
9,879 3,671
Creditors: amounts falling due within one year 5 (74,747) (35,245)
Net current liabilities (64,868) (31,574)
Total assets less current liabilities 43,428 42,920
Creditors: amounts falling due after more than one year 6 (32,944) (47,790)
Net assets/(liabilities) 10,484 (4,870)
Capital and reserves
Profit and loss account 10,484 (4,870)
Shareholder's funds 10,484 (4,870)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Jonathan Crook
Director
Approved by the board on 27 November 2024
Mowtech Ltd
Notes to the Accounts
for the year ended 29 February 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 25% reducing balance
Vehicles 25% reducing balance
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 109,447 8,333 117,780
Additions 30,020 24,600 54,620
At 29 February 2024 139,467 32,933 172,400
Depreciation
At 1 March 2023 37,179 6,107 43,286
Charge for the year 14,112 6,706 20,818
At 29 February 2024 51,291 12,813 64,104
Net book value
At 29 February 2024 88,176 20,120 108,296
At 28 February 2023 72,268 2,226 74,494
4 Debtors 2024 2023
£ £
Trade debtors (574) 1,603
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,987 8,698
Bounce back loan 892 230
Obligations under finance lease and hire purchase contracts 13,316 15,095
Trade creditors - 1,549
Director's account 25,552 7,766
Taxation and social security costs 3,565 1,355
Other creditors 29,435 552
74,747 35,245
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,137 6,667
Obligations under finance lease and hire purchase contracts 27,807 41,123
32,944 47,790
7 Controlling party
The company is controlled by the director by virtue of his shareholding.
8 Other information
Mowtech Ltd is a private company limited by shares and incorporated in England. Its registered office is:
16 Cranesfield
Sherbourne St John
Basingstoke
Hampshire
RG24 9LN
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