Registered number
09075573
M-Tech Printers Ltd
Unaudited Filleted Accounts
30 June 2024
M-Tech Printers Ltd
Registered number: 09075573
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 12,500 16,250
Tangible assets 4 - 11,351
12,500 27,601
Current assets
Stocks 20,763 24,096
Debtors 5 39,804 77,662
Cash at bank and in hand 87,406 107,339
147,973 209,097
Creditors: amounts falling due within one year 6 (37,313) (108,912)
Net current assets 110,660 100,185
Net assets 123,160 127,786
Capital and reserves
Called up share capital 10 10
Profit and loss account 123,150 127,776
Shareholder's funds 123,160 127,786
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.
G Millman
Director
Approved by the board on 22 December 2024
M-Tech Printers Ltd
Notes to the Accounts
for the year ended 30 June 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Vehicles over 4 years
Plant and machinery over 5 years
Computer Equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 50,000
At 30 June 2024 50,000
Amortisation
At 1 July 2023 33,750
Provided during the year 3,750
At 30 June 2024 37,500
Net book value
At 30 June 2024 12,500
At 30 June 2023 16,250
Goodwill is being written off in equal annual instalments over its estimated economic life of 13.33 years.
4 Tangible fixed assets
Vehicles Plant and machinery etc Computer Equipment Total
£ £ £ £
Cost
At 1 July 2023 47,274 1,290 3,306 51,870
At 30 June 2024 47,274 1,290 3,306 51,870
Depreciation
At 1 July 2023 35,923 1,290 3,306 40,519
Charge for the year 11,351 - - 11,351
At 30 June 2024 47,274 1,290 3,306 51,870
Net book value
At 30 June 2024 - - - -
At 30 June 2023 11,351 - - 11,351
5 Debtors 2024 2023
£ £
Trade debtors 39,646 70,437
Other debtors 158 7,225
39,804 77,662
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,158 52,689
Corporation tax 17,851 18,528
Other taxes and social security costs 2,830 15,488
Other creditors 6,474 22,207
37,313 108,912
7 Controlling party
Mr G Millman is the ultimate controlling party on the grounds of owning 100% of the shares
8 Other information
M-Tech Printers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Mountain Villa
Graiglwyd Road
Penmaenmawr
Conwy
LL34 6YG
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