true
MTIX Limited
07622985
2015-05-31
146932
144414
147130
144612
198
198
147130
144612
5810
9039
152940
153651
-30395
-91542
107307
263838
76912
172296
76912
39388
0
132908
183335
245193
150000
200000
33335
45193
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 April 2008).
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-Over the 17 year life
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
100000
50000
50000
60631
60631
27296
15438
11858
310631
310631
127296
65438
61858
Ordinary
1000
1
1000
1000
Ordinary
1
198
198
198
Ordinary
1
98
98
98
Post balance sheet events
On 9 October 2015 the issued share capital was designated into Ordinary A shares and Ordinary B shares. The rights attaching to the two classes of share rank pari passu save that the declaration of dividends is at the discretion of the directors.
2015-11-26
P MISTRY
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
MTIX Limited
2014-06-01
2015-05-31
MTIX Limited
2013-06-01
2014-05-31
MTIX Limited
2013-05-31
MTIX Limited
2014-05-31
MTIX Limited
2014-05-31
MTIX Limited
2015-05-31
2015-11-27