Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 07700372 Mr David Kesel Mr Andrew Harland Mr Mark Kesel Mrs Cecilia McDowall Mr Andrew Colpus Mr David Kesel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07700372 2023-08-31 07700372 2024-08-31 07700372 2023-09-01 2024-08-31 07700372 frs-core:CurrentFinancialInstruments 2024-08-31 07700372 frs-core:Non-currentFinancialInstruments 2024-08-31 07700372 frs-core:ComputerEquipment 2024-08-31 07700372 frs-core:ComputerEquipment 2023-09-01 2024-08-31 07700372 frs-core:ComputerEquipment 2023-08-31 07700372 frs-core:SharePremium 2024-08-31 07700372 frs-core:ShareCapital 2024-08-31 07700372 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 07700372 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07700372 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 07700372 frs-bus:SmallEntities 2023-09-01 2024-08-31 07700372 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07700372 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07700372 frs-bus:Director1 2023-09-01 2024-08-31 07700372 frs-bus:Director2 2023-09-01 2024-08-31 07700372 frs-bus:Director3 2023-09-01 2024-08-31 07700372 frs-bus:Director4 2023-09-01 2024-08-31 07700372 frs-bus:Director5 2023-09-01 2024-08-31 07700372 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 07700372 frs-countries:EnglandWales 2023-09-01 2024-08-31 07700372 2022-08-31 07700372 2023-08-31 07700372 2022-09-01 2023-08-31 07700372 frs-core:CurrentFinancialInstruments 2023-08-31 07700372 frs-core:Non-currentFinancialInstruments 2023-08-31 07700372 frs-core:SharePremium 2023-08-31 07700372 frs-core:ShareCapital 2023-08-31 07700372 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 07700372 frs-core:CurrentFinancialInstruments 1 2023-08-31
Registered number: 07700372
MTB Exams Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Freeman Accounting Services Limited
Chartered Management Accountant
8 Perry Drive
Fleet
Hampshire
GU51 4ES
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07700372
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 125 250
125 250
CURRENT ASSETS
Stocks 5 3,289 2,345
Debtors 6 40,447 48,893
Cash at bank and in hand 144,221 64,509
187,957 115,747
Creditors: Amounts Falling Due Within One Year 7 (70,190 ) (56,117 )
NET CURRENT ASSETS (LIABILITIES) 117,767 59,630
TOTAL ASSETS LESS CURRENT LIABILITIES 117,892 59,880
Creditors: Amounts Falling Due After More Than One Year 8 (273,692 ) (168,245 )
NET LIABILITIES (155,800 ) (108,365 )
CAPITAL AND RESERVES
Called up share capital 9 27,199 27,199
Share premium account 284,801 284,801
Profit and Loss Account (467,800 ) (420,365 )
SHAREHOLDERS' FUNDS (155,800) (108,365)
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For the year ending 31 August 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 directors acknowledge their 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
Mr David Kesel
Director
9th April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MTB Exams Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07700372 . The registered office is Gable House, 18-24 Turnham Green Terrace, Chiswick, London, W4 1QP.
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:
Computer Equipment 33% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2023 1,061
As at 31 August 2024 1,061
Depreciation
As at 1 September 2023 811
Provided during the period 125
As at 31 August 2024 936
Net Book Value
As at 31 August 2024 125
As at 1 September 2023 250
5. Stocks
2024 2023
£ £
Finished goods 3,289 2,345
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 36,323 30,006
Prepayments and accrued income 4,124 3,925
Corporation tax recoverable assets - 14,962
40,447 48,893
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,167 2,548
Bank loans and overdrafts 3,081 3,081
Other loans 29,520 21,188
Other taxes and social security 2,632 1,689
VAT 23,269 15,183
Net wages 720 720
Pension Creditor 226 313
Other Short-term Loans - 907
Accruals and deferred income 2,575 10,488
Directors' loan accounts 5,000 -
70,190 56,117
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,959 9,500
Other loans 115,733 28,745
Directors loan account 150,000 130,000
273,692 168,245
The loans from the directors are interest-free and are not repayable until the company moves into profit and can afford to repay the loans.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 27,199 27,199
10. Contingent Liabilities
2024 2023
£ £
At the end of the period 36,087 -
The company has been subject to a review by HMRC of its R&D tax credit claims for the two years ended August 2023.  The intial HMRC determination is currently under appeal with the timings of any final decision unknown.  The directors maintain that all R&D claims are valid and relate to bona fide R&D activities. Accordingly, no provision has been made in the financial statements. The amount of the contingent liability relates to payable tax credits received only, HMRC having already stated that no penalties would be applied.
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