M-TECH_(UK)_LIMITED - Accounts

M-TECH (UK) LIMITED - Company Information

Print Friendly Version

Company Registration No. 02727890 (England and Wales)

M-TECH (UK) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

M-TECH (UK) LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

M-TECH (UK) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

101,706

104,370

Investments

64,198

165,904

168,568

Current assets

Debtors

42,429

56,273

Cash at bank and in hand

40,143

67,094

82,572

123,367

Creditors: amounts falling due within one year

(89,637)

(115,068)

Net current (liabilities)/assets

(7,065)

8,299

Total assets less current liabilities

158,839

176,867

Creditors: amounts falling due after more than one year

(42,039)

(56,378)

Provisions for liabilities

(417)

(642)

116,383

119,847

Capital and reserves

Called up share capital

100

Profit and loss account

116,283

119,747

Shareholders' funds

116,383

119,847

M-TECH (UK) LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 2 -

For the financial year ended 31 December 2014 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 September 2015

Mr M J Brown

Director

Company Registration No. 02727890

M-TECH (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for services net of VAT.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

2% Straight Line

Fixtures, fittings & equipment

15% Straight Line

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at a fixed rate of exchange at the date of the transaction. All differences are taken to profit and loss account.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

M-TECH (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2014

153,772

64,198

217,970

Additions

346

At 31 December 2014

154,118

64,198

218,316

Depreciation

At 1 January 2014

49,402

Charge for the year

3,010

At 31 December 2014

52,412

Net book value

At 31 December 2014

101,706

64,198

165,904

At 31 December 2013

104,370

64,198

168,568

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

P B Baumann (UK) Ltd

England and Wales

Ordinary

100.00

MYA Blue UK Ltd

England and Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2014

Principal activity

P B Baumann (UK) Ltd

Sale of swiss products, swimwear and lingerie.

66,106

1,604

MYA Blue UK Ltd

Design, manufacture, sales and marketing of swimwear and fashionwear; consultancy and training.

(23,530)

8,224

M-TECH (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 5 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £34,619 (2013 - £14,027).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £42,039 (2013 - £56,378).

Share capital

2014

2013

Allotted, called up and fully paid

40 'A' Ordinary shares of £1 each

40 'B' Ordinary shares of £1 each

10 'C' Ordinary shares of £1 each

10 'D' Ordinary shares of £1 each

100

The 'A', 'B', 'C' and 'D' shares rank pari passu in all respects, with the exception of dividend rights. The shareholders shall be entitled to declare different dividends on the different classes of ordinary shares as they may in their exclusive discretion deem fit from time to time.

Related party relationships and transactions

Advances and credits to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Directors Loan

41,046

25,586

46,500

20,132

41,046

25,586

46,500

20,132