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Registered number: 14479732
MTC Swim Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Elite Accounting Services (Leicester) Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14479732
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 3,721
- 3,721
CURRENT ASSETS
Debtors 5 89,725 16,728
Cash at bank and in hand 20,454 8,391
110,179 25,119
NET CURRENT ASSETS (LIABILITIES) 110,179 25,119
TOTAL ASSETS LESS CURRENT LIABILITIES 110,179 28,840
NET ASSETS 110,179 28,840
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 110,079 28,740
SHAREHOLDERS' FUNDS 110,179 28,840
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Rachel Tait
Director
16/03/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
MTC Swim Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14479732 . The registered office is The Old Vicarage, 26 High Street, Syston, Leicester, LE7 1GP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5 Years Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2023 4,174
Additions (4,174 )
As at 30 November 2024 -
Depreciation
As at 1 December 2023 453
Provided during the period (453 )
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 -
As at 1 December 2023 3,721
Page 2
Page 3
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 89,725 16,728
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Page 3