| Mahtec Limited |
| Notes to the Accounts |
| for the year ended 31 May 2026 |
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| 1 |
Statutory information |
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Mahtec Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the company information page. |
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The presentation currency of the accounts is the pound sterling (£). |
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The principal activity of the company continued to be that of a holding company. |
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| 2 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006. |
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The company is a parent company, but is exempt from the requirement to prepare group accounts by virtue of section 400 of the Companies Act 2006. These accounts therefore represent information about the company as an individual undertaking and not about its group. |
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Related party exemption |
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The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Cash and cash equivalents |
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised as the amount of tax payable using the rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred Tax |
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Deferred Tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Finance costs |
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Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
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Going concern |
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At the time of approving the accounts, the director has a reasonable expectation that the company has adequate resources to continue in operating existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the accounts. |
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| 3 |
Audit information |
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Disclosure under Section 444(5B) of the Companies Act 2006. |
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The Report of the Auditors was unqualified. |
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Senior statutory auditor: |
Matt Hutchinson FCA FCCA |
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Firm: |
The Rowleys Partnership Ltd |
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Date of audit report: |
22 October 2026 |
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| 4 |
Employees |
2026 |
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2025 |
| Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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| 5 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
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Cost and Net Book Value |
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At 1 June 2025 and as at 31 May 2026 |
3,222,493 |
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The company's investments at the Balance Sheet date in the share capital of companies include |
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the following: |
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ATM (Holdings) Limited |
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Registered office: Winchester Avenue, Blaby Industrial Park, Leicester LE8 4GZ |
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Nature of business: Holding Company |
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% |
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Class of shares |
holding |
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Ordinary |
100 |
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ATM Automation Limited |
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Registered office: Winchester Avenue, Blaby Industrial Park, Leicester LE8 4GZ |
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Nature of business: Design, manufacture and sale of special purpose machinery |
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% |
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Class of shares |
holding |
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Ordinary |
100 |
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ATM Automation Limited is an indirect subsidiary of the company. |
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| 6 |
Debtors |
2026 |
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2025 |
| £ |
£ |
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Amounts owed by group undertakings |
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532,740 |
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150,000 |
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Other debtors |
649 |
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4,227 |
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533,389 |
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154,227 |
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Amounts due after more than one year included above |
532,740 |
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- |
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| 7 |
Creditors: amounts falling due within one year |
2026 |
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2025 |
| £ |
£ |
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Bank loans and overdrafts |
- |
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187,500 |
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Amounts owed to group undertakings |
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- |
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2,627,528 |
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Other creditors |
7,944 |
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7,687 |
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7,944 |
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2,822,715 |
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| 8 |
Creditors: amounts falling due after one year |
2026 |
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2025 |
| £ |
£ |
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Amounts owed to group undertakings |
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3,472,724 |
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- |
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Bank loans and overdrafts |
- |
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421,875 |
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3,472,724 |
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421,875 |
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| 9 |
Secured debts |
2026 |
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2025 |
| £ |
£ |
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Creditors include the following secured debts: |
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Secured loans |
- |
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609,375 |
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The secured loans are secured against the assets of the company and by way of a cross guarantee against the assets of its subsidiary undertakings. The borrowings were repaid in full on 1 July 2025. |
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| 10 |
Called up share capital |
2026 |
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2025 |
| £ |
£ |
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Allotted, issued and fully paid: |
Nominal |
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Number: |
Class: |
value: |
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20,000 |
Ordinary A |
£1 |
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20,000 |
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20,000 |
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20,000 |
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20,000 |
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| 11 |
Contingent liabilities |
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The assets of the company are secured by way of a cross guarantee in favour of bank loans and other loans in subsidiary undertakings of the company. At 31 May 2026, borrowings of £nil (2025: £nil) were covered by this guarantee. |
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| 12 |
Other financial commitments |
2026 |
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2025 |
| £ |
£ |
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Total future minimum payments under non-cancellable operating leases |
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10,972 |
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21,943 |
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| 13 |
Related party transactions |
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During the year the company made distributions, disclosed as a movement on reserves, totalling £1,617,194 (2025: £nil) to Mahtec Employee-Ownership Trust ("the EOT"). The distributions were made to enable the EOT to acquire shares in the company from the existing shareholder as part of the employee ownership structure. The EOT is a related party as it holds a controlling interest in the company. |
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S Freer is both a director of Mahtec Limited and a Trustee of Mahtec Employee-Ownership Trust. He received no remuneration or benefits in his trustee capacity. |
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S Hirji resigned as a director of Mahtec Limited on 24 July 2025 and on the same day was appointed a Trustee of Mahtec Employee-Ownership Trust. He received no remuneration or benefits in his trustee capacity. |
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During the year the company received dividends of £1,882,740 (2025: £nil) from its immediate subsidiary ATM (Holdings) Limited, to help fund the EOT. |
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| 14 |
Controlling party |
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On 24 July 2025 the group headed up by Mahtec Limited was sold to Mahtec Employee-Ownership Trust which is managed by ATM Trustees Limited, as part of a strategic decision to set up an Employee Ownership Trust which now owns the organisation for the benefit of the employees. There is no one individual controlling the group. |