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Company Registration No. 07294294 (England and Wales)
Montec Systems Ltd Unaudited accounts for the year ended 30 June 2024
Montec Systems Ltd Unaudited accounts Contents
Page
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Montec Systems Ltd Company Information for the year ended 30 June 2024
Director
Mr Benjamin Harker
Company Number
07294294 (England and Wales)
Registered Office
Old Mill Yard Eversons Lane Harleston Norfolk IP20 9ES United Kingdom
Accountants
SB Accountancy 24 Spencer Crescent Diss Norfolk IP22 4UF
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Montec Systems Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
562 
300 
Current assets
Inventories
2,000 
2,000 
Debtors
411 
409 
Cash at bank and in hand
9,537 
10,209 
11,948 
12,618 
Creditors: amounts falling due within one year
(15,106)
(14,814)
Net current liabilities
(3,158)
(2,196)
Net liabilities
(2,596)
(1,896)
Capital and reserves
Called up share capital
500 
500 
Share premium
19,900 
19,900 
Profit and loss account
(22,996)
(22,296)
Shareholders' funds
(2,596)
(1,896)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 March 2025 and were signed on its behalf by
Mr Benjamin Harker Director Company Registration No. 07294294
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Montec Systems Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Montec Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 07294294. The registered office is Old Mill Yard , Eversons Lane , Harleston , Norfolk, IP20 9ES, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
40% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Intangible fixed assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Development costs: 25% on straight line
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Montec Systems Ltd Notes to the Accounts for the year ended 30 June 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2023
25,800 
At 30 June 2024
25,800 
Amortisation
At 1 July 2023
25,800 
At 30 June 2024
25,800 
Net book value
At 30 June 2024
- 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 July 2023
3,293 
Additions
477 
At 30 June 2024
3,770 
Depreciation
At 1 July 2023
2,993 
Charge for the year
215 
At 30 June 2024
3,208 
Net book value
At 30 June 2024
562 
At 30 June 2023
300 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
87 
202 
Accrued income and prepayments
324 
207 
411 
409 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
14 
14 
Other creditors
14,342 
14,050 
Accruals
750 
750 
15,106 
14,814 
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Montec Systems Ltd Notes to the Accounts for the year ended 30 June 2024
8
Transactions with related parties
At the year end B Harker, a director, was owed £14,342 by the company. Which is repayable on demand. This balance is included in creditors due within 1 year.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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