MHT Solutions Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07403660 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

MHT SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr H J Turner

Dr M J Turner

SECRETARY:

Dr M J Turner

REGISTERED OFFICE:

136 Bromham Road

Bedford

MK40 2QW

REGISTERED NUMBER:

07403660 (England and Wales)

ACCOUNTANTS:

Keens Shay Keens Limited

Chartered Accountants

Victoria House

42/44 Shortmead Street

Biggleswade

SG18 0AP

BANKERS:

RBS

15-19 Mill Street

Bedford

MK40 3EU

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

177,240

187,719

177,241

187,720

CURRENT ASSETS

Stocks

40,000

40,000

Debtors

6

65,761

54,850

Cash at bank and in hand

210,947

136,494

316,708

231,344

CREDITORS

Amounts falling due within one year

7

125,325

110,089

NET CURRENT ASSETS

191,383

121,255

TOTAL ASSETS LESS CURRENT LIABILITIES

368,624

308,975

CREDITORS

Amounts falling due after more than one year

8

(7,108

)

(91,806

)

PROVISIONS FOR LIABILITIES

(12,437

)

(11,468

)

NET ASSETS

349,079

205,701

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

348,979

205,601

SHAREHOLDERS' FUNDS

349,079

205,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 31 July 2017 and were signed on its behalf by:

Dr H J Turner - Director

1.	STATUTORY INFORMATION

MHT Solutions 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at

cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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

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.

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 8 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

388,256

AMORTISATION

At 1 April 2016

and 31 March 2017

388,255

NET BOOK VALUE

At 31 March 2017

1

At 31 March 2016

1

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

143,820

159,095

29,414

332,329

Additions

-

-

17,439

17,439

At 31 March 2017

143,820

159,095

46,853

349,768

DEPRECIATION

At 1 April 2016

21,573

103,426

19,611

144,610

Charge for year

7,191

13,917

6,810

27,918

At 31 March 2017

28,764

117,343

26,421

172,528

NET BOOK VALUE

At 31 March 2017

115,056

41,752

20,432

177,240

At 31 March 2016

122,247

55,669

9,803

187,719

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

110,665

4,818

115,483

DEPRECIATION

At 1 April 2016

68,934

2,786

71,720

Charge for year

10,433

508

10,941

At 31 March 2017

79,367

3,294

82,661

NET BOOK VALUE

At 31 March 2017

31,298

1,524

32,822

At 31 March 2016

41,731

2,032

43,763

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

59,261

50,850

Prepayments

6,500

4,000

65,761

54,850

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

11,534

Hire purchase contracts

17,414

17,060

Trade creditors

29,598

19,974

Tax

57,283

46,392

Social security and other taxes

6,833

7,247

Other creditors

3,673

1,745

Directors' current accounts

696

809

Accruals and deferred income

9,828

5,328

125,325

110,089

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

-

11,534

Bank loans - 2-5 years

-

34,602

Bank loans more 5 yr by instal

-

15,061

Hire purchase contracts

7,108

30,609

7,108

91,806

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

15,061

9.	OTHER FINANCIAL COMMITMENTS

MHT Solutions Limited has entered into a 20 year lease agreement for 136 Bromham Road. The initial

lease period is 2 years, this is reviewed every 5 years thereafter. The current annual lease commitment is

£16,000.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr H J Turner.