Mitech Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03928755 (England and Wales)

Unaudited financial statements for the year ended 31 March 2022

For

Mitech Consultants Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

M J A Little

Secretary:

Mrs H Reid

Registered office:

Wainscot

Heath Road, Warboys

Huntingdon

Cambridgeshire

PE28 2UW

Registered number:

03928755 (England and Wales)

Accountants:

R Vann Ltd

Chartered Certified Accountants

Suite 4

Ironstone House

Ironstone Way

Brixworth

Northamptonshire

NN6 9UD

Fixed assets

Tangible assets

4

209,699

286,177

Investment property

5

677,764

677,764

887,463

963,941

Current assets

Stocks

46,027

23,236

Debtors

6

1,506,653

2,232,867

Cash at bank and in hand

340,923

163,756

1,893,603

2,419,859

Creditors

Amounts falling due within one year

7

1,036,961

1,377,327

Net current assets

856,642

1,042,532

Total assets less current liabilities

1,744,105

2,006,473

Creditors

Amounts falling due after more than one year

8

(224,498

)

(332,815

)

Provisions for liabilities

9

(28,258

)

(40,868

)

Net assets

1,491,349

1,632,790

Capital and reserves

Called up share capital

10

130,510

130,510

Share premium

261,180

261,180

Capital redemption reserve

76,770

76,770

Retained earnings

1,022,889

1,164,330

Shareholders' funds

1,491,349

1,632,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6 September 2022 and were signed by:

M J A Little - Director

1.	Statutory information

Mitech Consultants Limited 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.

Land and buildings

-

15% on reducing balance

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 20% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 21 (2021 - 25 ) .

4.	Tangible fixed assets

Equipment

Short

& computer

Motor

leasehold

systems

vehicles

Totals

£

£

£

£

Cost

At 1 April 2021

221,777

736,874

156,755

1,115,406

Additions

-

7,322

-

7,322

At 31 March 2022

221,777

744,196

156,755

1,122,728

Depreciation

At 1 April 2021

174,553

612,098

42,578

829,229

Charge for year

7,555

47,709

28,536

83,800

At 31 March 2022

182,108

659,807

71,114

913,029

Net book value

At 31 March 2022

39,669

84,389

85,641

209,699

At 31 March 2021

47,224

124,776

114,177

286,177

5.	Investment property

Total

£

Fair value

At 1 April 2021

and 31 March 2022

677,764

Net book value

At 31 March 2022

677,764

At 31 March 2021

677,764

6.

Debtors

31.3.22

31.3.21

£

£

Amounts falling due within one year:

Trade debtors

466,646

1,053,277

Other debtors

22,021

179,607

488,667

1,232,884

31.3.22

31.3.21

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

999,983

999,983

Other debtors

18,003

-

1,017,986

999,983

Aggregate amounts

1,506,653

2,232,867

7.

Creditors: amounts falling due within one year

31.3.22

31.3.21

£

£

Bank loans and overdrafts

12,850

14,250

Hire purchase contracts

41,348

45,609

Payments on account

9,310

12,029

Trade creditors

74,087

115,597

Amounts owed to group undertakings

751,832

879,832

Taxation and social security

33,162

145,858

Other creditors

114,372

164,152

1,036,961

1,377,327

8.

Creditors: amounts falling due after more than one year

31.3.22

31.3.21

£

£

Bank loans

18,534

31,514

Hire purchase contracts

15,171

56,509

Other creditors

190,793

244,792

224,498

332,815

9.	Provisions for liabilities

31.3.22

31.3.21

£

£

Deferred tax

28,258

40,868

Deferred

tax

£

Balance at 1 April 2021

40,868

Provided during year

(12,610

)

Balance at 31 March 2022

28,258

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

130,510

Ordinary

£1

130,510

130,510

11.	Ultimate controlling party

The ultimate controlling party is Breve Technology Holdings Ltd.

The ultimate holding company is incorporated in the United Kingdom.