Registered number
02787315
MTC (UK) Limited
Unaudited Filleted Accounts
30 April 2024
MTC (UK) Limited
Registered number: 02787315
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,595 17,607
Investments 4 495 495
14,090 18,102
Current assets
Debtors 5 47,063 57,709
Cash at bank and in hand 20,223 51,465
67,286 109,174
Creditors: amounts falling due within one year 6 (43,559) (79,486)
Net current assets 23,727 29,688
Total assets less current liabilities 37,817 47,790
Creditors: amounts falling due after more than one year 7 (24,680) (38,963)
Net assets 13,137 8,827
Capital and reserves
Called up share capital 1,200 1,200
Share premium 3,400 3,400
Profit and loss account 8,537 4,227
Shareholders' funds 13,137 8,827
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J I Marks
Director
Approved by the board on 24 February 2025
MTC (UK) Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings
Motor Vehicles 25% on reducing balance
Plant and machinery 20% on reducing balance
Fixtures, fittings, tools and equipment 20% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipments Motor vehicles Total
£ £ £
Cost
At 1 May 2023 23,397 29,059 52,456
At 30 April 2024 23,397 29,059 52,456
Depreciation
At 1 May 2023 15,597 19,252 34,849
Charge for the year 1,560 2,452 4,012
At 30 April 2024 17,157 21,704 38,861
Net book value
At 30 April 2024 6,240 7,355 13,595
At 30 April 2023 7,800 9,807 17,607
4 Investments
Other
investments
£
Cost
At 1 May 2023 495
At 30 April 2024 495
5 Debtors 2024 2023
£ £
Trade debtors 35,235 43,044
Other debtors 11,828 14,665
47,063 57,709
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,453 -
Trade creditors 35,184 61,387
Taxation and social security costs 5,922 13,439
Accruals and deferred income - 4,660
43,559 79,486
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,680 28,963
Other creditors - 10,000
24,680 38,963
8 Other information
MTC (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Camden Gateway
349 Royal College Street
London
NW1 9QS
MTC (UK) Limited 02787315 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 J I Marks No description of principal activity 02787315 2022-05-01 2023-04-30 02787315 core:WithinOneYear 2023-04-30 02787315 core:AfterOneYear 2023-04-30 02787315 core:ShareCapital 2023-04-30 02787315 core:SharePremium 2023-04-30 02787315 core:RetainedEarningsAccumulatedLosses 2023-04-30 02787315 2023-05-01 2024-04-30 02787315 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02787315 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02787315 bus:Director40 2023-05-01 2024-04-30 02787315 1 2023-05-01 2024-04-30 02787315 2 2023-05-01 2024-04-30 02787315 core:PlantMachinery 2023-05-01 2024-04-30 02787315 core:Vehicles 2023-05-01 2024-04-30 02787315 countries:England 2023-05-01 2024-04-30 02787315 bus:FRS102 2023-05-01 2024-04-30 02787315 bus:FilletedAccounts 2023-05-01 2024-04-30 02787315 2024-04-30 02787315 core:WithinOneYear 2024-04-30 02787315 core:AfterOneYear 2024-04-30 02787315 core:ShareCapital 2024-04-30 02787315 core:SharePremium 2024-04-30 02787315 core:RetainedEarningsAccumulatedLosses 2024-04-30 02787315 core:PlantMachinery 2024-04-30 02787315 core:Vehicles 2024-04-30 02787315 2023-04-30 02787315 core:PlantMachinery 2023-04-30 02787315 core:Vehicles 2023-04-30 iso4217:GBP xbrli:pure