IRIS Accounts Production v24.3.2.46 07462622 director 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074626222023-06-30074626222024-06-30074626222023-07-012024-06-30074626222022-06-30074626222022-07-012023-06-30074626222023-06-3007462622ns15:EnglandWales2023-07-012024-06-3007462622ns14:PoundSterling2023-07-012024-06-3007462622ns10:Director12023-07-012024-06-3007462622ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3007462622ns10:SmallEntities2023-07-012024-06-3007462622ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3007462622ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3007462622ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3007462622ns10:FullAccounts2023-07-012024-06-3007462622ns10:RegisteredOffice2023-07-012024-06-3007462622ns5:CurrentFinancialInstruments2024-06-3007462622ns5:CurrentFinancialInstruments2023-06-3007462622ns5:ShareCapital2024-06-3007462622ns5:ShareCapital2023-06-3007462622ns5:SharePremium2024-06-3007462622ns5:SharePremium2023-06-3007462622ns5:RetainedEarningsAccumulatedLosses2024-06-3007462622ns5:RetainedEarningsAccumulatedLosses2023-06-3007462622ns5:PlantMachinery2023-07-012024-06-3007462622ns5:PlantMachinery2023-06-3007462622ns5:PlantMachinery2024-06-3007462622ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3007462622ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: 07462622 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

M-Tec Engineering Projects Limited

M-Tec Engineering Projects Limited (Registered number: 07462622)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M-Tec Engineering Projects Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr A Crump





REGISTERED OFFICE: 3 Siskin Drive
Middlemarch Business Park
Coventry
CV3 4FJ





REGISTERED NUMBER: 07462622 (England and Wales)





ACCOUNTANTS: Franklins
18 St Christopher's Way
Pride Park
Derby
Derbyshire
DE24 8JY

M-Tec Engineering Projects Limited (Registered number: 07462622)

Balance Sheet
30 June 2024

2024 2023
as restated
Notes £    £   
CURRENT ASSETS
Debtors 5 1,028,902 987,333
Cash at bank 750,404 693,836
1,779,306 1,681,169
CREDITORS
Amounts falling due within one year 6 552,958 532,828
NET CURRENT ASSETS 1,226,348 1,148,341
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,226,348

1,148,341

CAPITAL AND RESERVES
Called up share capital 111 111
Share premium 199,992 199,992
Retained earnings 1,026,245 948,238
SHAREHOLDERS' FUNDS 1,226,348 1,148,341

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





Mr A Crump - Director


M-Tec Engineering Projects Limited (Registered number: 07462622)

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

1. STATUTORY INFORMATION

M-Tec Engineering Projects 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
The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits can be reliably measured, and it is probable that future economic benefits will flow to the entity. Revenue from services is recognised in the accounting periods in which the services are rendered.

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

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 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.

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.

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.

M-Tec Engineering Projects Limited (Registered number: 07462622)

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

2. ACCOUNTING POLICIES - continued

Employee ownership trust
M-Tec Employee Trustee Limited holds the shares in M-Tec Engineering Projects Limited as trustees of the M-Tec Employee Ownership Trust. The M-Tec Employee Ownership Trust owns the business for the benefit of the companies employees.

The trust was set up in 2018 in line with Section 37 to the Finance Act 2014 as an "Employee Ownership Trust" (EOT). The financial statements for the trust are not required to be consolidated into the M-Tec Engineering Projects Limited financial statements.

Included within the accounts are distribution payments made to the M-Tec Employee Ownership Trust. No relief has been taken for the payment as a deduction in computing the profits of the company for Corporation Tax purposes.

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from and to related parties and bank loans.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due for goods sold or services rendered in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised at the transaction price.

Trade creditors are classified as current liabilities of the company. The company does not have an unconditional right, at the end of the reporting date, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

M-Tec Engineering Projects Limited (Registered number: 07462622)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 90,893
DEPRECIATION
At 1 July 2023
and 30 June 2024 90,893
NET BOOK VALUE
At 30 June 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 633,289 660,637
Tax 300,773 298,734
Prepayments and accrued income 94,840 27,962
1,028,902 987,333

Other than amounts disclosed above under Directors' current accounts no other amounts are owed by the directors at the year end.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 415,639 368,074
Social security and other taxes 3,988 3,872
VAT 12,113 38,833
Other creditors 18,600 -
Directors' current accounts 2,467 2,467
Accruals and deferred income 100,151 119,582
552,958 532,828

7. RELATED PARTY DISCLOSURES

Amounts were owed to the directors at the year end of £2,467 (2023: £2,467). No interest has been charged on these loan accounts and they are repayable on demand.

During the year the company paid £299,750 (2023: £218,000) to the M-Tec Employee Ownership Trust, through a distribution.

During the year the company paid wages of £2,400 (2023: £2,400) to an employee who also had significant influence over a company that controls M-Tec Engineering Projects Limited.

M-Tec Engineering Projects Limited (Registered number: 07462622)

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

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the M-Tec Employee Ownership Trust.

M-Tec Employee Trustee Limited holds the legal title to the entire share capital of M-Tec Engineering Projects Limited on trust for the benefit of the employees of M-Tec Engineering Projects Limited, via the M-Tec Employee Ownership Trust.