Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11219688 Matthew Giles Neil Giles Edward Giles iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11219688 2023-02-28 11219688 2024-02-29 11219688 2023-03-01 2024-02-29 11219688 frs-core:CurrentFinancialInstruments 2024-02-29 11219688 frs-core:Non-currentFinancialInstruments 2024-02-29 11219688 frs-core:BetweenOneFiveYears 2024-02-29 11219688 frs-core:MotorVehicles 2024-02-29 11219688 frs-core:MotorVehicles 2023-03-01 2024-02-29 11219688 frs-core:MotorVehicles 2023-02-28 11219688 frs-core:WithinOneYear 2024-02-29 11219688 frs-core:ShareCapital 2024-02-29 11219688 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11219688 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11219688 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11219688 frs-bus:SmallEntities 2023-03-01 2024-02-29 11219688 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11219688 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11219688 frs-bus:Director1 2023-03-01 2024-02-29 11219688 frs-bus:Director1 2023-02-28 11219688 frs-bus:Director1 2024-02-29 11219688 frs-bus:Director2 2023-03-01 2024-02-29 11219688 frs-bus:Director2 2023-02-28 11219688 frs-bus:Director2 2024-02-29 11219688 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 11219688 frs-countries:EnglandWales 2023-03-01 2024-02-29 11219688 2022-02-28 11219688 2023-02-28 11219688 2022-03-01 2023-02-28 11219688 frs-core:CurrentFinancialInstruments 2023-02-28 11219688 frs-core:Non-currentFinancialInstruments 2023-02-28 11219688 frs-core:BetweenOneFiveYears 2023-02-28 11219688 frs-core:WithinOneYear 2023-02-28 11219688 frs-core:ShareCapital 2023-02-28 11219688 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11219688
MTG Home Work Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 11219688
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,516 4,788
30,516 4,788
CURRENT ASSETS
Debtors 5 2,799 11,234
Cash at bank and in hand 171 6,480
2,970 17,714
Creditors: Amounts Falling Due Within One Year 6 (15,553 ) (27,702 )
NET CURRENT ASSETS (LIABILITIES) (12,583 ) (9,988 )
TOTAL ASSETS LESS CURRENT LIABILITIES 17,933 (5,200 )
Creditors: Amounts Falling Due After More Than One Year 7 (17,168 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,798 ) (910 )
NET LIABILITIES (5,033 ) (6,110 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement (5,133 ) (6,210 )
SHAREHOLDERS' FUNDS (5,033) (6,110)
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Page 2
For the year ending 29 February 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Neil Giles
Director
27/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MTG Home Work Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11219688 . The registered office is 5 Rowan Place, Rowan Way, Angmering, West Sussex, BN16 4FY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have prepared the accounts on the Going Concern basis as they do not intend to liquidate the company or cease its operations.  The company is financially supported by its directors and shareholders, who will continue to ensure the company's liabilities are met as they fall due.  The directors have agreed not to seek repayments for their loans until the company's retained earnings deficit has cleared.
2.3. Turnover
Turnover is measured based on consideration specified in a contract with a customer and recognised when control over a finished good is transferred to a customer or once a service is expected to be substantially completed.  Revenue is recognised net of value added tax, rebates and discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 March 2023 11,688
Additions 33,357
As at 29 February 2024 45,045
Depreciation
As at 1 March 2023 6,900
Provided during the period 7,629
As at 29 February 2024 14,529
Net Book Value
As at 29 February 2024 30,516
As at 1 March 2023 4,788
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 2,799 11,234
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,289 -
Trade creditors 4,961 6,168
Other creditors 3,370 3,342
Taxation and social security 933 18,192
15,553 27,702
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 17,168 -
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,289 -
Later than one year and not later than five years 17,168 -
23,457 -
23,457 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Matthew Giles 4,200 - 3,154 - 1,046
Mr Neil Giles 4,200 - 3,154 - 1,046
The above loan is unsecured, interest free and repayable on demand.
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