NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
MTBG Limited ("the Company") is a company limited by shares, domiciled and incorporated in England and Wales. The address of the registered office is 847 The Crescent, Colchester Business Park, Colchester, England, CO4 9YQ.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The company and its subsidiary form a small group. The company is therefore not required to produce consolidated financial statements and has not done so. These financial statements present information about the company as a single entity.
Investments in subsidiaries are measured at cost less accumulated impairment.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 0
(2017 -
0
)
.
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Other reserves
Other reserves relate to convertible debt which will be converted into shares in due course.
The company has provided corporate guarantees in respect of its subsidiary's borrowings. At 30 April 2018 £272,446 was guaranteed (30 April 2017: £239,118).
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