Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-05-01falseNo description of principal activity33The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse 06217995 2023-05-01 2024-04-30 06217995 2022-05-01 2023-04-30 06217995 2024-04-30 06217995 2023-04-30 06217995 2022-05-01 06217995 c:CompanySecretary1 2023-05-01 2024-04-30 06217995 c:Director1 2023-05-01 2024-04-30 06217995 c:RegisteredOffice 2023-05-01 2024-04-30 06217995 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 06217995 d:OtherPropertyPlantEquipment 2024-04-30 06217995 d:OtherPropertyPlantEquipment 2023-04-30 06217995 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06217995 d:CurrentFinancialInstruments 2024-04-30 06217995 d:CurrentFinancialInstruments 2023-04-30 06217995 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06217995 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06217995 d:ShareCapital 2023-05-01 2024-04-30 06217995 d:ShareCapital 2024-04-30 06217995 d:ShareCapital 2022-05-01 2023-04-30 06217995 d:ShareCapital 2023-04-30 06217995 d:ShareCapital 2022-05-01 06217995 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 06217995 d:RetainedEarningsAccumulatedLosses 2024-04-30 06217995 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 06217995 d:RetainedEarningsAccumulatedLosses 2023-04-30 06217995 d:RetainedEarningsAccumulatedLosses 2022-05-01 06217995 c:OrdinaryShareClass1 2023-05-01 2024-04-30 06217995 c:FRS102 2023-05-01 2024-04-30 06217995 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06217995 c:FullAccounts 2023-05-01 2024-04-30 06217995 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06217995 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 06217995










MT Power Electronics Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 April 2024

 
MT Power Electronics Limited
 

Company Information


Director
Ekhram Salakhov 




Company secretary
Reeves Company Secretarial Limited



Registered number
06217995



Registered office
2nd Floor
168 Shoreditch High Street

London

E1 6RA




Accountants
Kreston Reeves LLP
Chartered Accountants

2nd Floor

168 Shoreditch High Street

London

E1 6RA





 
MT Power Electronics Limited
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of MT Power Electronics Limited for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MT Power Electronics Limited for the year ended 30 April 2024 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of MT Power Electronics Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of MT Power Electronics Limited and state those matters that we have agreed to state to the director of MT Power Electronics Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MT Power Electronics Limited and its director for our work or for this report. 

It is your duty to ensure that MT Power Electronics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MT Power Electronics Limited. You consider that MT Power Electronics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of MT Power Electronics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
2nd Floor
168 Shoreditch High Street
London
E1 6RA
29 January 2025
Page 1

 
MT Power Electronics Limited
Registered number: 06217995

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,354
5,185

  
6,354
5,185

Current assets
  

Debtors
  
592,498
244,117

Cash at bank and in hand
  
270,965
148,584

  
863,463
392,701

Creditors: amounts falling due within one year
 7 
(375,583)
(21,931)

Net current assets
  
 
 
487,880
 
 
370,770

Total assets less current liabilities
  
494,234
375,955

Net assets
  
494,234
375,955


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
 9 
494,233
375,954

  
494,234
375,955


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.




Ekhram Salakhov
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
MT Power Electronics Limited
 

Statement of changes in equity
For the Year Ended 30 April 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2023
1
375,954
375,955


Comprehensive income for the year

Profit for the year
-
118,279
118,279
Total comprehensive income for the year
-
118,279
118,279


Total transactions with owners
-
-
-


At 30 April 2024
1
494,233
494,234


The notes on pages 4 to 7 form part of these financial statements.


Statement of changes in equity
For the Year Ended 30 April 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2022
1
388,292
388,293


Comprehensive income for the year

Profit for the year
-
17,662
17,662
Total comprehensive income for the year
-
17,662
17,662


Contributions by and distributions to owners

Dividends: Equity capital
-
(30,000)
(30,000)


Total transactions with owners
-
(30,000)
(30,000)


At 30 April 2023
1
375,954
375,955


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
MT Power Electronics Limited
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

1.


General information

The company is registered as a private company limited by shares, incorporated and domiciled in England & Wales. The company's registered office is at 2nd Floor, 168 Shoreditch High Street, E1 6RA.
The principal activities of the company during the year was that of supplying and dealing in electrical equipment. The company's trading address is Office 44, First Floor, 57 Berkeley Square, London, W1J 6ER.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied
during the year, exclusive of Value Added Tax and trade discounts..

  
2.3

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at
rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.
Exchange gains and losses are recognised in the Profit and loss account.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 4

 
MT Power Electronics Limited
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Other fixed assets
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
MT Power Electronics Limited
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 May 2023
14,009


Additions
3,732


Disposals
(3,365)



At 30 April 2024

14,376



Depreciation


At 1 May 2023
8,824


Charge for the year on owned assets
2,563


Disposals
(3,365)



At 30 April 2024

8,022



Net book value



At 30 April 2024
6,354



At 30 April 2023
5,185


5.


Debtors

2024
2023
£
£



Trade debtors
585,098
243,826

Other debtors
7,400
291

592,498
244,117



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
270,965
148,584


Page 6

 
MT Power Electronics Limited
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
329,694
9,155

Corporation tax
39,033
1,506

Other taxation and social security
-
1,056

Other creditors
2,646
6,389

Accruals and deferred income
4,210
3,825

375,583
21,931



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



 Ordinary Shares shares of £1 each
1
1



9.


Reserves

Profit & loss account

The profit and loss account comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders.
Share Capital
This represents the nominal value of shares that have been issued by the company.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,409 (2023 - £2,448). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

During the year the company operated a loan with Mr E Salakhov. At the year end the balance due to Mr E Salakhov was £2,635 (2023: £283).


12.


Controlling party

The ultimate controlling party is Mr E Salakhov, the director, who owns all of the issued share capital.


Page 7