Company Registration No. 05253249 (England and Wales)
Mortek Limited
Unaudited accounts
for the year ended 31 December 2024
Mortek Limited
Unaudited accounts
Contents
Mortek Limited
Statement of financial position
as at 31 December 2024
Intangible assets
1,990
2,160
Tangible assets
21,912
956
Cash at bank and in hand
63,250
8,212
Creditors: amounts falling due within one year
(135,363)
(89,385)
Net current assets
16,007
56,044
Total assets less current liabilities
39,909
59,160
Creditors: amounts falling due after more than one year
(10,884)
(43,150)
Called up share capital
1,000
1,000
Profit and loss account
28,025
15,010
Shareholders' funds
29,025
16,010
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by
Mr J N Ansell
Director
Company Registration No. 05253249
Mortek Limited
Notes to the Accounts
for the year ended 31 December 2024
Mortek Limited is a private company, limited by shares, registered in England and Wales, registration number 05253249. The registered office is Unit 30 Colemeadow Road, Redditch, Worcestershire, B98 9PB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Mortek Limited
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Goodwill
At 31 December 2024
77,500
At 31 December 2024
75,510
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2024
-
9,497
9,497
Disposals
(35,500)
-
(35,500)
At 31 December 2024
28,133
9,497
37,630
At 1 January 2024
-
8,541
8,541
Charge for the year
7,034
143
7,177
At 31 December 2024
7,034
8,684
15,718
At 31 December 2024
21,099
813
21,912
At 31 December 2023
-
956
956
Mortek Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
83,841
115,932
Accrued income and prepayments
3,435
17,835
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,160
2,160
Obligations under finance leases and hire purchase contracts
25,444
-
Trade creditors
31,435
52,606
Taxes and social security
19,583
16,493
8
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
10
Average number of employees
During the year the average number of employees was 4 (2023: 4).