M Tech Electrical Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11988350

M Tech Electrical Services Limited

Filleted Unaudited Financial Statements

31 May 2022

M Tech Electrical Services Limited

Financial Statements

Year ended 31 May 2022

Contents	Page

Officers and professional advisers	1

Report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

M Tech Electrical Services Limited

Officers and Professional Advisers

Director Mr D Mulroy

Registered office	31 Hibbert Crescent
	Failsworth
	Manchester
	England
	M35 0RQ

Accountants	Sterling Finance [UK] Limited
	Chartered accountants
	Westbourne House
	159 Oldham Road
	Ashton Under Lyne
	Lancashire
	United Kingdom
	OL7 9AR

M Tech Electrical Services Limited

Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of M Tech Electrical Services Limited

Year ended 31 May 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M Tech Electrical Services Limited for the year ended 31 May 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of M Tech Electrical Services Limited in accordance with the terms of our engagement letter dated 13 June 2019. Our work has been undertaken solely to prepare for your approval the financial statements of M Tech Electrical Services Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M Tech Electrical Services Limited and its director for our work or for this report.

It is your duty to ensure that M Tech Electrical Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M Tech Electrical Services Limited. You consider that M Tech Electrical Services Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of M Tech Electrical Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sterling Finance [UK] Limited Chartered accountants

Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR

5 August 2022

M Tech Electrical Services Limited

Statement of Financial Position

31 May 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	8,119	15,739

Current assets

Stocks		12,803	–
Debtors	6	8,052	4,931
Cash at bank and in hand		1,251	2,094
		--------	-------
		22,106	7,025

Creditors: amounts falling due within one year	7	20,561	25,808
		--------	--------
Net current assets/(liabilities)		1,545	( 18,783)
		-------	--------
Total assets less current liabilities		9,664	( 3,044)

Creditors: amounts falling due after more than one year	8	36,886	36,611
		--------	--------
Net liabilities		( 27,222)	( 39,655)
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 27,322)	( 39,755)
	--------	--------
Shareholders deficit	( 27,222)	( 39,655)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

M Tech Electrical Services Limited

Statement of Financial Position (continued)

31 May 2022

These financial statements were approved by the board of directors and authorised for issue on 5 August 2022 , and are signed on behalf of the board by:

Mr D Mulroy
Director

Company registration number: 11988350

M Tech Electrical Services Limited

Notes to the Financial Statements

Year ended 31 May 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 31 Hibbert Crescent, Failsworth, Manchester, M35 0RQ, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Changes in accounting policies

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. These financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102") as issued in August 2014. The amendments to FRS 102 issued in July 2015 have been applied. The presentation currency of these financial statements is Sterling Pounds. In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 4 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 June 2021 and 31 May 2022	27,474	497	27,971
	--------	----	--------
Depreciation
At 1 June 2021	12,029	203	12,232
Charge for the year	7,452	168	7,620
	--------	----	--------
At 31 May 2022	19,481	371	19,852
	--------	----	--------
Carrying amount
At 31 May 2022	7,993	126	8,119
	--------	----	--------
At 31 May 2021	15,445	294	15,739
	--------	----	--------

6. Debtors

	2022	2021
	£	£
Trade debtors	7,008	3,704
Other debtors	1,044	1,227
	-------	-------
	8,052	4,931
	-------	-------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	( 853)	5,283
Social security and other taxes	19,999	7,697
Other creditors	1,415	12,828
	--------	--------
	20,561	25,808
	--------	--------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	19,432	36,611
Other creditors	17,454	–
	--------	--------
	36,886	36,611
	--------	--------

9. Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2022	2021
	£	£
Mr D Mulroy	( 9,019)	–
	-------	----