| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| M-Tech Computers Limited |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| M-Tech Computers Limited (Registered number: 03088778) |
| Statement of Financial Position - continued |
| 31 August 2024 |
| 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 were approved by the director and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 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 |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 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 |
| 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 |
| 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 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 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. |