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REGISTERED NUMBER: 10602110 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MY IGLU LIMITED

MY IGLU LIMITED (REGISTERED NUMBER: 10602110)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MY IGLU LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: A Cooper-Atkins
Mrs H R Cooper-Atkins





REGISTERED OFFICE: The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB





REGISTERED NUMBER: 10602110 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

MY IGLU LIMITED (REGISTERED NUMBER: 10602110)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,979 -
Investment property 5 925,000 750,000
951,979 750,000

CURRENT ASSETS
Debtors 6 17,843 47,104
Cash at bank 17,409 13,840
35,252 60,944
CREDITORS
Amounts falling due within one year 7 186,347 205,959
NET CURRENT LIABILITIES (151,095 ) (145,015 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

800,884

604,985

CREDITORS
Amounts falling due after more than one
year

8

(375,461

)

(400,421

)

PROVISIONS FOR LIABILITIES (62,690 ) (15,665 )
NET ASSETS 362,733 188,899

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 185,835 66,780
Retained earnings 176,798 122,019
SHAREHOLDERS' FUNDS 362,733 188,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MY IGLU LIMITED (REGISTERED NUMBER: 10602110)

BALANCE SHEET - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





Mrs H R Cooper-Atkins - Director


MY IGLU LIMITED (REGISTERED NUMBER: 10602110)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

My Iglu Limited is a private company, limited by shares , registered in England and Wales. The 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES

The average number of employees during the year was NIL (2022 - NIL).

MY IGLU LIMITED (REGISTERED NUMBER: 10602110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 30,800
At 28 February 2023 30,800
DEPRECIATION
Charge for year 3,821
At 28 February 2023 3,821
NET BOOK VALUE
At 28 February 2023 26,979

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 750,000
Revaluations 175,000
At 28 February 2023 925,000
NET BOOK VALUE
At 28 February 2023 925,000
At 28 February 2022 750,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2018 82,445
Valuation in 2023 175,000
Cost 667,555
925,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 667,555 667,555

Investment property was valued on an open market basis on 28 February 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,008 7,385
Other debtors 5,835 39,719
17,843 47,104

MY IGLU LIMITED (REGISTERED NUMBER: 10602110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 36,704 36,346
Trade creditors 989 780
Taxation and social security 8,541 15,184
Other creditors 140,113 153,649
186,347 205,959

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 357,461 382,421
Other creditors 18,000 18,000
375,461 400,421

9. SECURED DEBTS

Bank loans totalling £380,665 are secured by fixed and floating charges. Security has also been provided by Diamond Facilities Support Limited, a company in which the directors have control, joint control or significant influence.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 £1 100 100

11. RESERVES
Revaluation
reserve
£   
At 1 March 2022 66,780
Increase in revaluation 175,000
Deferred tax on revaluation (55,945 )

At 28 February 2023 185,835

MY IGLU LIMITED (REGISTERED NUMBER: 10602110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

12. RELATED PARTY DISCLOSURES

Key management personnel :
20232022
££

Amount due to/(from) related party 137,000153,000

137,000153,000

Transactions with entities in which the directors have control, joint control or significant influence over the entity :
20232022
££

Rents received from related party55,45653,140
Amount due from related party9,4937,385
49,38360,528