MTC Mobile Ltd - Period Ending 2019-03-31

Registration number: SC436940

MTC Mobile Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2019

Walker Dunnett & Co
29 Commercial Street
Dundee
DD1 3DG

MTC Mobile Ltd

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 3

MTC Mobile Ltd

(Registration number: SC436940)
Statement of Financial Position as at 31 March 2019

	Note	2019 £	2018 £
Current assets
Debtors	3	5,436	3,200
Cash at bank and in hand		1,527	280
		6,963	3,480
Creditors: Amounts falling due within one year	4	(48,588)	(14,826)
Net liabilities		(41,625)	(11,346)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(41,725)	(11,446)
Total equity		(41,625)	(11,346)

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 5 November 2019 and signed on its behalf by:
 

.........................................

Mr Michael Callachan
Director

The notes on pages 2 to 3 form an integral part of these financial statements.

Page 1

MTC Mobile Ltd

Notes to the Financial Statements for the Year Ended 31 March 2019

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Shed 26 Unit 35
City Quay
Camperdown Street
DundeeDD1 3JA

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

Page 2

MTC Mobile Ltd

Notes to the Financial Statements for the Year Ended 31 March 2019

3

Debtors

	2019 £	2018 £
Trade debtors	719	839
Other debtors	4,717	2,361
	5,436	3,200

4

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Trade creditors	1,680	4,085
Accruals and deferred income	1,753	788
Other creditors	45,155	9,953
	48,588	14,826

Page 3