true
MTIX Limited
07622985
2016-05-31
337
146932
535
147130
198
198
535
147130
0
5810
535
152940
-126026
-30395
144146
107307
18120
76912
5489
76912
12631
0
126561
183335
100000
150000
26561
33335
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.
Research and development
Research and development expenditure is written off as incurred.
Amortisation
Amortisation is calculated so as to write off the cost of an asset over
the useful economic life of that asset as follows:
Patents/Goodwill-Over 5 years straight line
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
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 the 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
0.2500
Computer Equipment
straight line
0.3333
250000
250000
150000
100000
50000
63831
60631
3200
37270
27296
9974
313831
310631
3200
187270
127296
59974
Ordinary
1000
1
1000
1000
Ordinary
1
198
198
198
The issued shares are designated as 132 ordinary A shares of £1 each and 66 ordinary B shares of £1 each. The two classes of share rank pari passu in all material respects.
Balance sheet Spare note 99 (user defined)
Going concern
The directors have confirmed that they and their associates will provide adequate working capital to enable the company to trade for at least the next twelve months following the date of approval of these accounts. Consequently, the accounts have been prepared on a going concern basis.
2016-12-05
P MISTRY
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
MTIX Limited
2015-06-01
2016-05-31
MTIX Limited
2014-06-01
2015-05-31
MTIX Limited
2014-05-31
MTIX Limited
2015-05-31
MTIX Limited
2015-05-31
MTIX Limited
2016-05-31
2016-12-06