REGISTERED NUMBER: 05003068 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MTCS (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R J Warburton

Mrs A E Capstick

SECRETARY:

Mr R J Warburton

REGISTERED OFFICE:

10 High Street

Windermere

Cumbria

LA23 1AF

REGISTERED NUMBER:

05003068 (England and Wales)

ACCOUNTANTS:

MBE Accountancy Ltd

Chartered Certified Practice

10 High Street

Windermere

Cumbria

LA231AF

FIXED ASSETS

Tangible assets

4

154,805

129,570

CURRENT ASSETS

Debtors

5

180,812

59,613

Cash at bank

238,945

248,573

419,757

308,186

CREDITORS

Amounts falling due within one year

6

152,940

101,788

NET CURRENT ASSETS

266,817

206,398

TOTAL ASSETS LESS CURRENT LIABILITIES

421,622

335,968

CREDITORS

Amounts falling due after more than one year

7

(5,636

)

(15,748

)

PROVISIONS FOR LIABILITIES

(32,057

)

(21,814

)

NET ASSETS

383,929

298,406

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

383,927

298,404

SHAREHOLDERS' FUNDS

383,929

298,406

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

Mr R J Warburton - Director

1.	STATUTORY INFORMATION

Mtcs (Uk) Ltd 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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Computer software

-

10% on reducing balance

Fixtures and fittings

-

30% on reducing balance

Computer equipment

-

30% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Computer

and

Computer

property

software

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

18,000

161,342

3,275

18,696

201,313

Additions

10,495

29,250

-

1,731

41,476

Disposals

-

-

-

(153

)

(153

)

At 31 December 2024

28,495

190,592

3,275

20,274

242,636

DEPRECIATION

At 1 January 2024

3,240

60,449

2,073

5,981

71,743

Charge for year

404

11,674

147

3,914

16,139

Eliminated on disposal

-

-

-

(51

)

(51

)

At 31 December 2024

3,644

72,123

2,220

9,844

87,831

NET BOOK VALUE

At 31 December 2024

24,851

118,469

1,055

10,430

154,805

At 31 December 2023

14,760

100,893

1,202

12,715

129,570

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

39,208

17,287

Other debtors

141,604

42,326

180,812

59,613

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

4,981

5,623

Taxation and social security

113,655

59,232

Other creditors

34,304

36,933

152,940

101,788

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

5,636

15,748

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Mr R J Warburton

Balance outstanding at start of year

28,075

1,763

Amounts advanced

172,590

124,682

Amounts repaid

(98,416

)

(98,370

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

102,249

28,075

Mrs A E Capstick

Balance outstanding at start of year

-

-

Amounts advanced

19,182

46,157

Amounts repaid

(19,182

)

(46,157

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R J Warburton.