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Registration number: 03751165

M. Tech Communications (Bristol) Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

M. Tech Communications (Bristol) Ltd.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

M. Tech Communications (Bristol) Ltd.

Company Information

Directors

Mr E F Mazzotta

Mrs T M Mazzotta

Mr F E Mazzotta

Miss E Mazzotta

Company secretary

Mrs T M Mazzotta

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

M. Tech Communications (Bristol) Ltd.

(Registration number: 03751165)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

69,503

41,973

Investment property

5

-

1,100,258

 

69,503

1,142,231

Current assets

 

Stocks

6

350

350

Debtors

7

389,120

251,301

Cash at bank and in hand

 

481,970

660,879

 

871,440

912,530

Creditors: Amounts falling due within one year

8

(221,495)

(172,261)

Net current assets

 

649,945

740,269

Total assets less current liabilities

 

719,448

1,882,500

Creditors: Amounts falling due after more than one year

8

(26,184)

-

Provisions for liabilities

(2,974)

(6,162)

Net assets

 

690,290

1,876,338

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

690,288

1,876,336

Shareholders' funds

 

690,290

1,876,338

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

M. Tech Communications (Bristol) Ltd.

(Registration number: 03751165)
Balance Sheet as at 30 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2025 and signed on its behalf by:
 

.........................................
Mr E F Mazzotta
Director

 

M. Tech Communications (Bristol) Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

M. Tech Communications (Bristol) Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Fixtures and fittings

25% reducing balance

Plant and Machinery

25% reducing balance

Property improvements

10 year straight line

Finance leased vehicles

Over the life of the lease

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Already fully amortised

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.

 

M. Tech Communications (Bristol) Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

M. Tech Communications (Bristol) Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

M. Tech Communications (Bristol) Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

7,100

7,100

At 30 April 2024

7,100

7,100

Amortisation

At 1 May 2023

7,100

7,100

At 30 April 2024

7,100

7,100

Carrying amount

At 30 April 2024

-

-

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

33,680

32,309

46,173

112,162

Additions

5,533

1,503

47,076

54,112

Disposals

-

(20,938)

(39,923)

(60,861)

At 30 April 2024

39,213

12,874

53,326

105,413

Depreciation

At 1 May 2023

16,145

26,196

27,848

70,189

Charge for the year

2,865

1,791

4,626

9,282

Eliminated on disposal

-

(20,481)

(23,080)

(43,561)

At 30 April 2024

19,010

7,506

9,394

35,910

Carrying amount

At 30 April 2024

20,203

5,368

43,932

69,503

At 30 April 2023

17,535

6,113

18,325

41,973

Included within the net book value of land and buildings above is £20,203 (2023 - £17,534) in respect of short leasehold land and buildings.
 

 

M. Tech Communications (Bristol) Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Investment properties

2024
£

At 1 May

1,100,258

Disposals

(1,100,258)

At 30 April

-

6

Stocks

2024
£

2023
£

Other inventories

350

350

7

Debtors

2024
£

2023
£

Trade debtors

324,859

103,012

Prepayments

9,622

5,559

Other debtors

54,639

142,730

389,120

251,301

 

M. Tech Communications (Bristol) Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

4,290

-

Trade creditors

 

49,416

13,744

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

2,316

-

Taxation and social security

 

154,693

149,252

Accruals and deferred income

 

4,162

3,865

Other creditors

 

6,618

5,400

 

221,495

172,261

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

26,184

-

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

26,184

-

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

4,290

-

 

M. Tech Communications (Bristol) Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

11

Related party transactions

During the year, investment properties with a net book value of £1,100,258 were distributed to the immediate parent company at the time of the transaction, M. Tech Properties Ltd.

Loans to related parties

2024

Key management
£

Total
£

At start of period

107,510

107,510

Advanced

243,136

243,136

Repaid

(312,595)

(312,595)

At end of period

38,051

38,051

2023

Key management
£

Total
£

At start of period

170,295

170,295

Advanced

114,977

114,977

Repaid

(177,762)

(177,762)

At end of period

107,510

107,510

Loans from related parties

2024

Parent
£

Total
£

Advanced

297,839

297,839

Repaid

(295,523)

(295,523)

At end of period

2,316

2,316

12

Parent and ultimate parent undertaking

The company's immediate parent is M. Tech Holdings (Bristol) Limited, incorporated in England & Wales.

 The ultimate controlling party is Mr E and Mrs T Mazzotta by virtue of their shareholding in the parent.