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REGISTERED NUMBER: 12231377 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

MTCI Limited

MTCI Limited (Registered number: 12231377)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MTCI Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: K McCarthy
Mrs J McCarthy



REGISTERED OFFICE: 11 Bay Tree Road
Abbeymead
Gloucester
Gloucestershire
GL4 5WD



REGISTERED NUMBER: 12231377 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
1 Legg Street
Chelmsford
Essex
CM1 1JS

MTCI Limited (Registered number: 12231377)

Statement of Financial Position
30 September 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,162 24,013

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 5 22,184 13,566
Cash at bank 11,513 25,931
35,197 40,997
CREDITORS
Amounts falling due within one year 6 15,559 23,082
NET CURRENT ASSETS 19,638 17,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,800

41,928

PROVISIONS FOR LIABILITIES 4,325 4,170
NET ASSETS 36,475 37,758

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 36,375 37,658
SHAREHOLDERS' FUNDS 36,475 37,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

MTCI Limited (Registered number: 12231377)

Statement of Financial Position - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





Mrs J McCarthy - Director


MTCI Limited (Registered number: 12231377)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

MTCI 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.

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 each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% 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 Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

MTCI Limited (Registered number: 12231377)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 October 2023 40,547 5,794 46,341
Additions 1,369 3,798 5,167
At 30 September 2024 41,916 9,592 51,508
Depreciation
At 1 October 2023 18,161 4,167 22,328
Charge for year 5,939 2,079 8,018
At 30 September 2024 24,100 6,246 30,346
Net book value
At 30 September 2024 17,816 3,346 21,162
At 30 September 2023 22,386 1,627 24,013

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade debtors 21,204 10,819
Other debtors 980 2,747
22,184 13,566

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade creditors 448 1,438
Amounts owed to group undertakings 1,900 1,900
Taxation and social security 8,421 3,313
Other creditors 4,790 16,431
15,559 23,082

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30/9/24 30/9/23
£    £   
Within one year 540 -
Between one and five years 1,080 -
1,620 -

MTCI Limited (Registered number: 12231377)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


8. RELATED PARTY DISCLOSURES

Directors - Mr K McCarthy & Mrs J McCarthy

At 30 September 2024 the company owed the directors £3,826 (2023 - £13,738) The balance owed, included within other creditors, is made up of business expenses not yet reimbursed and declared dividends directly credited to the directors' loan account. The loan is repayable to the directors on demand.


KJM Holdings Ltd
Parent company

A loan exists between the company and its parent company KJM Holdings Ltd. At 30 September 2024, the company owed £1,900 to KJM Holdings Ltd (2023 - £1,900). The loan is interest free with no fixed repayment terms.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by KJM Holdings Ltd, a company controlled by the director K McCarthy. KJM Holdings Ltd, which shares the same registered office as MTCI Limited, has taken the option under Section 399(2A) of the Companies Act 2006 not to prepare consolidated financial statements.