MTN Technology Limited
|
Registered Number |
03634790
|
Abbreviated Balance Sheet |
As at 30 June 2016
|
|
|
Notes |
|
|
2016 |
|
|
2015 |
|
|
|
|
£ |
|
|
£ |
Fixed assets |
Intangible assets |
2 |
|
|
12,776 |
|
|
12,954 |
Tangible assets |
3 |
|
|
772 |
|
|
1,030 |
|
|
|
|
13,548 |
|
|
13,984 |
|
Current assets |
Debtors |
|
|
46,958 |
|
|
7,729 |
Cash at bank and in hand |
|
|
43,615 |
|
|
129,360 |
|
|
|
90,573 |
|
|
137,089 |
|
Creditors: amounts falling due within one year |
|
|
(46,507) |
|
|
(70,887) |
|
Net current assets |
|
|
|
44,066 |
|
|
66,202 |
|
Net assets |
|
|
|
57,614 |
|
|
80,186 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
4 |
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
57,612 |
|
|
80,184 |
|
Shareholders' funds |
|
|
|
57,614 |
|
|
80,186 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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|
|
|
Miss Angela Margolis |
Director |
Approved by the board on 2 December 2016
|
|
MTN Technology Limited
|
Notes to the Abbreviated Accounts |
For the year ended 30 June 2016
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The unaudited accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
Turnover |
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Turnover represents the value, net of discounts, of goods provided to customers and work carried out in respect of services provided to customers.
|
|
|
Employee benefit trust |
|
Employee Benefit Trusts (EBT) are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal instalments over their estimated useful lives of 80 years. The Company established a Trust with the broad objective of providing benefits to the employees and their dependants, both past and present. The Trustees operate independently of the Company and the assets of the Trust are held separately from those of the Company. In order to comply with accounting standards, the assets of the Trust are combined with those of the Company in these accounts, except to the extent that they have been designated into sub trusts for specific employees. |
|
|
Tangible fixed assets and depreciation |
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
|
|
Office equipment |
25% reducing balance
|
|
|
Foreign currencies |
|
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken in to account in arriving at the operating profit. |
|
|
2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 July 2015 |
14,200 |
|
At 30 June 2016 |
14,200 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 July 2015 |
1,246 |
|
Provided during the year |
178 |
|
At 30 June 2016 |
1,424 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2016 |
12,776 |
|
At 1 July 2015 |
12,954 |
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 July 2015 |
4,510 |
|
At 30 June 2016 |
4,510 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2015 |
3,480 |
|
Charge for the year |
258 |
|
At 30 June 2016 |
3,738 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2016 |
772 |
|
At 1 July 2015 |
1,030 |
|
|
|
|
|
|
|
|
4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
|
|
value |
|
Number |
|
£ |
|
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
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