true
Meantime Information Technologies Limited
02589414
2016-03-31
181174
202973
181274
203073
100
100
181274
203073
811
867
182085
203940
175765
196844
65652
99346
241417
296190
197122
246305
100
100
44195
49785
6320
7096
6320
7096
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Plant & Machinery
Reducing Balance
0.1500
Equipment
Reducing Balance
0.2500
56582
55312
1270
50262
48216
2046
56582
55312
1270
50262
48216
2046
Ordinary
80
1
80
80
Ordinary A
20
1
20
20
Ordinary
1
80
80
80
Ordinary A
1
20
20
20
Mr F J Pearson owed by the company £61663 (2015: £135528) at the year end. The maximum balance outstanding was £135,528 (2015: £127,581).
Beneficial loan interest has been calculated on the overdrawn loan account at the official rate of interest. The beneficial loan interest credited to the profit and loss account in the year was £1505 (2015: £1858).
Mr F J Pearson is the managing director of Masonbell Limited. Masonbell Limited received services from Meantime Information Technologies Limited totalling £Nil (2015: £Nil) during the year. Meantime Information Technologies Limited paid Masonbell Limited for consultancy services received £7714 (2015: £7714) during the year. At the year end Masonbell Limited owed Meantime Information Technologies Limited £Nil (2015: £Nil).
Mr F J Pearson has a controlling interest in Meantime Internet Technologies Limited. Meantime Internet Technologies Limited invoiced Meantime Information Technologies Limited an amount during the year totalling £0 (2015: £0). Meantime Internet Technologies Limited were owed by Meantime Information Technologies Limited a balance of £Nil (2015: £299) at the year end.
2016-12-15
Mr F J Pearson
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
Meantime Information Technologies Limited
2015-04-01
2016-03-31
Meantime Information Technologies Limited
2014-04-01
2015-03-31
Meantime Information Technologies Limited
2014-03-31
Meantime Information Technologies Limited
2015-03-31
Meantime Information Technologies Limited
2015-03-31
Meantime Information Technologies Limited
2016-03-31
2016-12-21