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REGISTERED NUMBER: 06799243 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

MICT LIMITED

MICT LIMITED (REGISTERED NUMBER: 06799243)






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


MICT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: T Bold
A Stankevitch





REGISTERED OFFICE: 34 Norfolk Street
Liverpool
Merseyside
L1 0BE





REGISTERED NUMBER: 06799243 (England and Wales)





ACCOUNTANTS: C A Hunter Limited
Britannia Chambers
26 George Street
St Helens
Merseyside
WA10 1BZ

MICT LIMITED (REGISTERED NUMBER: 06799243)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 295,772 305,143

CURRENT ASSETS
Stocks 7,500 2,500
Debtors 5 104,091 128,469
Cash at bank and in hand 160,804 197,631
272,395 328,600
CREDITORS
Amounts falling due within one year 6 87,813 163,058
NET CURRENT ASSETS 184,582 165,542
TOTAL ASSETS LESS CURRENT
LIABILITIES

480,354

470,685

CREDITORS
Amounts falling due after more than one
year

7

(237,288

)

(227,288

)

PROVISIONS FOR LIABILITIES (10,896 ) (12,036 )
NET ASSETS 232,170 231,361

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 232,070 231,261
SHAREHOLDERS' FUNDS 232,170 231,361

MICT LIMITED (REGISTERED NUMBER: 06799243)

BALANCE SHEET - continued
31 MAY 2024


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.

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 14 February 2025 and were signed on its behalf by:





T Bold - Director


MICT LIMITED (REGISTERED NUMBER: 06799243)

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

1. STATUTORY INFORMATION

MICT 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 represents net invoiced sales of computer hardware and software and the provision of network support, excluding value added tax. Income in respect of hardware and software sales is recognised when the goods are delivered. Income in respect of network support is recognised when the support has been provided. Any prepaid support not utilised at the balance sheet date is credited to deferred income within other creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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 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.

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.

MICT LIMITED (REGISTERED NUMBER: 06799243)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Residential Commercial and
leasehold leasehold fittings
£    £    £   
COST
At 1 June 2023 61,358 212,280 11,903
Additions - - -
At 31 May 2024 61,358 212,280 11,903
DEPRECIATION
At 1 June 2023 925 4,193 3,758
Charge for year 1,227 4,245 1,254
At 31 May 2024 2,152 8,438 5,012
NET BOOK VALUE
At 31 May 2024 59,206 203,842 6,891
At 31 May 2023 60,433 208,087 8,145

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 41,126 66,714 393,381
Additions 3,000 6,493 9,493
At 31 May 2024 44,126 73,207 402,874
DEPRECIATION
At 1 June 2023 16,876 62,486 88,238
Charge for year 6,125 6,013 18,864
At 31 May 2024 23,001 68,499 107,102
NET BOOK VALUE
At 31 May 2024 21,125 4,708 295,772
At 31 May 2023 24,250 4,228 305,143

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 103,921 125,996
Other debtors 170 2,473
104,091 128,469

MICT LIMITED (REGISTERED NUMBER: 06799243)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 8,355 6,301
Taxation and social security 44,188 76,619
Other creditors 35,270 80,138
87,813 163,058

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other creditors 237,288 227,288