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REGISTERED NUMBER: 03088778 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

M-Tech Computers Limited

M-Tech Computers Limited (Registered number: 03088778)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M-Tech Computers Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mr Wayne Shemmell





SECRETARY: Mrs Joanne Shemmell





REGISTERED OFFICE: 74a High Street
Wanstead
London
E11 2RJ





REGISTERED NUMBER: 03088778 (England and Wales)





ACCOUNTANTS: Ashford Associates UK Limited
Chartered Certified Accountants
74A High Street
Wanstead
London
E11 2RJ

M-Tech Computers Limited (Registered number: 03088778)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 981,647 983,930

CURRENT ASSETS
Debtors 5 601,105 611,907
Cash at bank 93,382 14,199
694,487 626,106
CREDITORS
Amounts falling due within one year 6 954,503 933,914
NET CURRENT LIABILITIES (260,016 ) (307,808 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,631

676,122

CREDITORS
Amounts falling due after more than one year 7 19,167 29,167
NET ASSETS 702,464 646,955

CAPITAL AND RESERVES
Called up share capital 103,325 103,325
Fair value reserve 8 275,712 275,712
Retained earnings 323,427 267,918
SHAREHOLDERS' FUNDS 702,464 646,955

M-Tech Computers Limited (Registered number: 03088778)

Statement of Financial Position - continued
31 August 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 May 2025 and were signed by:





Mr Wayne Shemmell - Director


M-Tech Computers Limited (Registered number: 03088778)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

M-Tech Computers 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Freehold buildings no depreciation was provided.

Leasehold property over the period of the lease

Equipment, fixtures and fittings 25% pa on Reducing balance method

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 statement of financial position date.

Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
Tax deferred or accelerated is accounted for in respect of all material timing differences.

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.

Investment property
Investment property is carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Going concern
After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its consolidated financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 25 ) .

M-Tech Computers Limited (Registered number: 03088778)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Equipment,
Freehold Long furniture& Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 September 2023
and 31 August 2024 350,000 640,000 191,078 6,600 1,187,678
DEPRECIATION
At 1 September 2023 - 12,800 185,523 5,425 203,748
Charge for year - 600 1,389 294 2,283
At 31 August 2024 - 13,400 186,912 5,719 206,031
NET BOOK VALUE
At 31 August 2024 350,000 626,600 4,166 881 981,647
At 31 August 2023 350,000 627,200 5,555 1,175 983,930

Cost or valuation at 31 August 2024 is represented by:

Equipment,
Freehold Long furniture& Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
Valuation in 2024 350,000 640,000 191,078 6,600 1,187,678

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 350,000 350,000

Value of land in freehold land and buildings 350,000 350,000

Freehold land and buildings were valued on an open market basis on 31 August 2018 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 219,105 229,907
Other debtors 382,000 382,000
601,105 611,907

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 178,166 26,593
Taxation and social security 19,289 124,673
Other creditors 757,048 782,648
954,503 933,914

M-Tech Computers Limited (Registered number: 03088778)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 19,167 29,167

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other Bank Loan 19,167 29,167

8. RESERVES
Fair
value
reserve
£   
At 1 September 2023
and 31 August 2024 275,712

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr Wayne Shemmell
Balance outstanding at start of year (776,648 ) (506,368 )
Amounts advanced 25,600 (270,280 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (751,048 ) (776,648 )

ULTIMATE CONTROLLING PARTY
At the balance sheet date, the company was under common control of Mr W Shemmell and Mrs J Shemmell who held 50% shares each and were the ultimate control parties.

RELATED PARTIES
As at balance sheet date, the company owe £ 751,048 (2023: £ 776,648) to the director which was interest free loan to the company.
Mr W Shemmell and Mrs J Shemmell also own 100% shares of the two other associated companies (Lifestyles at home Ltd & Equestrian at home Ltd) and are ultimate controlling parties of the businesses.