REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 29 February 2020 |
|
for |
|
M T B Computer Services Ltd |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 29 February 2020 |
|
for |
|
M T B Computer Services Ltd |
M T B Computer Services Ltd (Registered number: 03710714) |
|
Contents of the Financial Statements |
for the Year Ended 29 February 2020 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
M T B Computer Services Ltd |
|
Company Information |
for the Year Ended 29 February 2020 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
44 The Pantiles |
Tunbridge Wells |
Kent |
TN2 5TN |
M T B Computer Services Ltd (Registered number: 03710714) |
|
Balance Sheet |
29 February 2020 |
|
29.2.20 | 28.2.19 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investments | 5 |
|
|
Investment property | 6 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 7 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his 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. |
M T B Computer Services Ltd (Registered number: 03710714) |
|
Balance Sheet - continued |
29 February 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
M T B Computer Services Ltd (Registered number: 03710714) |
|
Notes to the Financial Statements |
for the Year Ended 29 February 2020 |
|
|
1. | STATUTORY INFORMATION |
|
M T B Computer Services Ltd is a
|
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 |
|
|
The functional and presentational currency of the company is pounds sterling. Monetary amounts in these |
financial statements are rounded to the nearest £1, except where otherwise indicated. |
|
Going concern |
After reviewing the company's forecasts and projections, the members have a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. The company |
therefore continues to adopt the going concern basis in preparing its financial statements. |
|
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. Turnover from the supply of services represents the value of services |
provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the |
consideration received or receivable. |
|
Other income |
Interest income, including income arising from finance leases and other financial instruments, is recognised using |
the effective interest method. Profit share income is recognised when the right to receive payment is established. |
|
Tangible fixed assets |
|
Plant and machinery etc | - |
|
|
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
|
Debtors and creditors receivable/payable in one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in |
administrative expenses. |
|
M T B Computer Services Ltd (Registered number: 03710714) |
|
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2020 |
|
|
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, 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. |
|
Pension costs and other post-retirement benefits |
The company contributes to personal pension schemes and the pension charge represents the amounts payable by |
the company to the funds in respect of the year. |
|
Provisions for liabilities |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past |
event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be |
made of the amount of the obligation. |
|
The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the |
obligation. |
|
Where the effect of the time value of money is material, the amount expected to be required to settle the |
obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is |
recognised as a finance cost in profit or loss in the period it arises. |
|
Dividends |
Dividends are recognised as liabilities once they are no longer at the discretion of the company. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
M T B Computer Services Ltd (Registered number: 03710714) |
|
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2020 |
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2019 |
|
Additions |
|
Disposals | ( |
) |
At 29 February 2020 |
|
DEPRECIATION |
At 1 March 2019 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 29 February 2020 |
|
NET BOOK VALUE |
At 29 February 2020 |
|
At 28 February 2019 |
|
|
5. | FIXED ASSET INVESTMENTS |
|
Investments (neither listed nor unlisted) were as follows: |
29.2.20 | 28.2.19 |
£ | £ |
Brought forward | 335,781 | 326,530 |
Net movement | 9,452 | 9,251 |
345,233 | 335,781 |
|
Investments (neither listed nor unlisted) represents the company's capital account balance in Interhost LLP. |
|
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2019 |
|
Additions |
|
Revaluations | (11,952 | ) |
At 29 February 2020 |
|
NET BOOK VALUE |
At 29 February 2020 |
|
At 28 February 2019 |
|
|
The investment property has been valued by the director and is disclosed at its fair value. |
M T B Computer Services Ltd (Registered number: 03710714) |
|
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2020 |
|
|
6. | INVESTMENT PROPERTY - continued |
|
Fair value at 29 February 2020 is represented by: |
|
£ |
Valuation in 2017 | 57,152 |
Valuation in 2018 | (50,000 | ) |
Valuation in 2020 | (11,952 | ) |
Cost | 254,800 |
250,000 |
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.20 | 28.2.19 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.20 | 28.2.19 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
9. | PROVISIONS FOR LIABILITIES |
29.2.20 | 28.2.19 |
£ | £ |
Deferred tax | 154 | 3,899 |
|
Deferred |
tax |
£ |
Balance at 1 March 2019 |
|
Provided during year | ( |
) |
Balance at 29 February 2020 |
|
|
10. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.20 | 28.2.19 |
value: | £ | £ |
|
Ordinary 1p | 1p | 2 | 2 |
M T B Computer Services Ltd (Registered number: 03710714) |
|
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2020 |
|
|
11. | RELATED PARTY DISCLOSURES |
|
As at the balance sheet date £30,383 (2019: £30,383) was owing from a company connected to key management |
personnel. The loan is interest free, repayable on demand and included in debtors falling due within one year. |
|
During the year the company leased the trading premises at a rate of £4,000 (2019: £4,000) per annum from key |
management personnel. As at the balance sheet date £42,952 (2019: £nil) was owing from key management |
personnel and included in debtors falling due within one year. Interest was charged on the loan on the loan and |
applied at the repayment date which was repaid prior to the signing of these financial statements. |