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