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REGISTERED NUMBER: 01427664 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

MERTECH SWITCHBOARDS LIMITED

MERTECH SWITCHBOARDS LIMITED (REGISTERED NUMBER: 01427664)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MERTECH SWITCHBOARDS LIMITED

COMPANY INFORMATION
for the Year Ended 31 MAY 2024







DIRECTOR: Mrs S Robb





REGISTERED OFFICE: Mertech House
39-49 Hastings Street
Luton
Bedfordshire
LU1 5BE





REGISTERED NUMBER: 01427664 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

MERTECH SWITCHBOARDS LIMITED (REGISTERED NUMBER: 01427664)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 139,601 139,799

CURRENT ASSETS
Stocks 5 149,901 113,526
Debtors 6 186,643 247,067
336,544 360,593
CREDITORS
Amounts falling due within one year 7 337,414 345,016
NET CURRENT (LIABILITIES)/ASSETS (870 ) 15,577
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,731

155,376

CREDITORS
Amounts falling due after more than one
year

8

95,814

115,162
NET ASSETS 42,917 40,214

CAPITAL AND RESERVES
Called up share capital 7,550 7,550
Retained earnings 35,367 32,664
SHAREHOLDERS' FUNDS 42,917 40,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MERTECH SWITCHBOARDS LIMITED (REGISTERED NUMBER: 01427664)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:





Mrs S Robb - Director


MERTECH SWITCHBOARDS LIMITED (REGISTERED NUMBER: 01427664)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024

1. STATUTORY INFORMATION

Mertech Switchboards Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the sale of bespoke products produced for specific customers net of VAT. Where a product is partially completed at the balance sheet date, turnover includes the value of the product to date based on the proportion of completion and the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

The leasehold property is being depreciated to its estimated residual value over its deemed useful economic life. The director believes the residual value to be at least the current carrying value in these accounts and therefore depreciation would be negligible. The maintenance costs are charged to the profit and loss account in the period incurred. The director reviews the estimated residual value at the end of each accounting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

MERTECH SWITCHBOARDS LIMITED (REGISTERED NUMBER: 01427664)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2023
and 31 May 2024 138,563 51,112 13,526 52,448 255,649
DEPRECIATION
At 1 June 2023 - 50,811 12,661 52,378 115,850
Charge for year - 45 130 23 198
At 31 May 2024 - 50,856 12,791 52,401 116,048
NET BOOK VALUE
At 31 May 2024 138,563 256 735 47 139,601
At 31 May 2023 138,563 301 865 70 139,799

5. STOCKS
2024 2023
£    £   
Stocks 149,901 113,526

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,529 99,478
Amounts recoverable under contracts 131,431 146,906
Prepayments 683 683
186,643 247,067

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 51,382 66,339
Preference shares 20,000 20,000
Trade creditors 244,180 229,791
Corporation tax 3,574 8,633
Taxation and social security 1,959 2,710
VAT 14,083 10,586
Other creditors 66 1,780
Director's current account 45 1,607
Accrued expenses 2,125 3,570
337,414 345,016

MERTECH SWITCHBOARDS LIMITED (REGISTERED NUMBER: 01427664)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 47,395 55,937
Bank loans - 2-5 years 48,419 59,225
95,814 115,162

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 8,200 8,200

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 22,453 38,106
Bank loans 124,743 143,395
147,196 181,501

The bank loan is secured by way of a debenture and legal charge.

The bounce back loan is 100% guaranteed by the UK Government.