Abbreviated Company Accounts - MITECH CONSULTANTS LIMITED

MITECH CONSULTANTS LIMITED - Company Information

03928755 MITECH CONSULTANTS LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 03928755 2015-04-01 2016-03-31 03928755 2016-03-31 03928755 2015-03-31 03928755 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 03928755 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 03928755

MITECH CONSULTANTS LIMITED

Abbreviated Accounts

31 March 2016

MITECH CONSULTANTS LIMITED Registered Number 03928755

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	102,590	118,992
Investments	3	677,764	677,764
		780,354	796,756
Current assets
Stocks		44,343	32,269
Debtors		340,618	227,562
Cash at bank and in hand		21,173	8,376
		406,134	268,207
Creditors: amounts falling due within one year		(452,947)	(363,152)
Net current assets (liabilities)		(46,813)	(94,945)
Total assets less current liabilities		733,541	701,811
Creditors: amounts falling due after more than one year		(98,931)	(111,556)
Total net assets (liabilities)		634,610	590,255
Capital and reserves
Called up share capital	4	130,510	130,510
Share premium account		261,180	261,180
Other reserves		76,770	76,770
Profit and loss account		166,150	121,795
Shareholders' funds		634,610	590,255

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 4 August 2016

And signed on their behalf by:
MJA Little, Director

MITECH CONSULTANTS LIMITED Registered Number 03928755

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2015.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets 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 Leasehold 15% reducing balance
Plant , fixtures and equipment 20% reducing balance
Motor vehicles 25% reducing balance

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

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.

Deferred taxation
Deferred taxation 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.

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 the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 April 2015	946,390
Additions	9,499
Disposals	(17,494)
Revaluations	-
Transfers	-
At 31 March 2016	938,395
Depreciation
At 1 April 2015	827,398
Charge for the year	25,720
On disposals	(17,313)
At 31 March 2016	835,805
Net book values
At 31 March 2016	102,590
At 31 March 2015	118,992

3Fixed assets Investments
Investment property

At Cost £677,764 (2015 £677.764)

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
130,510 Ordinary shares of £1 each	130,510	130,510