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REGISTERED NUMBER: 04100034















MORETECH INTERNATIONAL LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024






MORETECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 04100034)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MORETECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 04100034)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,767 11,659

CURRENT ASSETS
Stocks 120,768 101,568
Debtors 5 173,069 164,480
Cash at bank and in hand 85,757 110,653
379,594 376,701
CREDITORS
Amounts falling due within one year 6 294,713 289,860
NET CURRENT ASSETS 84,881 86,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,648

98,500

PROVISIONS FOR LIABILITIES - 449
NET ASSETS 93,648 98,051

CAPITAL AND RESERVES
Called up share capital 90,001 90,001
Retained earnings 3,647 8,050
SHAREHOLDERS' FUNDS 93,648 98,051

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 directors acknowledge their 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.

MORETECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 04100034)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by:




D Fitzsimmons - Director



Mrs L J Fitzsimmons - Director


MORETECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 04100034)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Moretech International Limited is a private company limited by shares. The company is registered in England under number 04100034 and the address of the registered office is Barclays Bank Chambers, Stratford-upon-Avon, Warwickshire, CV37 6AH. The company's place of business is 5 Broxell Close, Wedgnock Industrial Estate, Warwick, CV34 5QF.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

MORETECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 04100034)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 Workplace Pensions scheme for all employees. The company's contributions are charged to the profit and loss account as they accrue. Differences between contributions payable and paid are included in accruals or prepayments in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 174,566
Additions 2,579
At 31 May 2024 177,145
DEPRECIATION
At 1 June 2023 162,907
Charge for year 5,471
At 31 May 2024 168,378
NET BOOK VALUE
At 31 May 2024 8,767
At 31 May 2023 11,659

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 118,708 130,806
Other debtors 54,361 33,674
173,069 164,480

MORETECH INTERNATIONAL LIMITED (REGISTERED NUMBER: 04100034)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 131,428 106,390
Amounts owed to group undertakings 88,884 105,423
Taxation and social security 19,167 23,840
Other creditors 55,234 54,207
294,713 289,860

7. ULTIMATE CONTROLLING PARTY

The company's parent company is Jojoba Limited, whose registered office is Barclays Bank Chambers, Stratford-upon-Avon, Warwickshire, CV37 6AH.