M2 Technical Services Limited - Accounts to registrar (filleted) - small 18.2
M2 Technical Services Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 28 February 2021 |
for |
M2 Technical Services Limited |
M2 Technical Services Limited (Registered number: SC130107) |
Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
M2 Technical Services Limited |
Company Information |
for the Year Ended 28 February 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
CHARTERED ACCOUNTANTS |
13/15 STRATHMORE HOUSE |
TOWN CENTRE |
EAST KILBRIDE |
GLASGOW |
G74 1LF |
M2 Technical Services Limited (Registered number: SC130107) |
Abridged Balance Sheet |
28 February 2021 |
28.2.21 | 29.2.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Revaluation reserve | 7 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
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. |
M2 Technical Services Limited (Registered number: SC130107) |
Abridged Balance Sheet - continued |
28 February 2021 |
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 |
M2 Technical Services Limited (Registered number: SC130107) |
Notes to the Financial Statements |
for the Year Ended 28 February 2021 |
1. | STATUTORY INFORMATION |
M2 Technical Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services, and excludes value added tax. Revenue from software support contracts is recognised over the period in which services are provided. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 |
M2 Technical Services Limited (Registered number: SC130107) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 March 2020 |
and 28 February 2021 |
DEPRECIATION |
At 1 March 2020 |
Charge for year |
At 28 February 2021 |
NET BOOK VALUE |
At 28 February 2021 |
At 29 February 2020 |
Cost or valuation at 28 February 2021 is represented by: |
Totals |
£ |
Valuation in 2002 | 55,532 |
Cost | 90,717 |
146,249 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
28.2.21 | 29.2.20 |
£ | £ |
Cost | 69,468 | 69,468 |
Aggregate depreciation | 27,784 | 26,395 |
Freehold land and buildings were valued on an open market basis on 28 February 2002 by Griffin Webster Partnership . |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
28.2.21 | 29.2.20 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 5,000 | - |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.21 | 29.2.20 |
value: | £ | £ |
ORDINARY | £1 | 27,180 | 27,180 |
M2 Technical Services Limited (Registered number: SC130107) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
7. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 March 2020 | 90,818 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 28 February 2021 | 95,385 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 28 February 2021 and 29 February 2020: |
28.2.21 | 29.2.20 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
There were no movements on the director's current accounts during the year, and at the balance sheet date, the balances due to the company by Mr McLay and Mr Irving were £1206 and £1207 respectively. These amounts are shown in Other Debtors. |
9. | ULTIMATE CONTROLLING PARTY |
The company is ultimately controlled by Mr K N McLay. |