Caseware UK (AP4) 2022.0.179 2022.0.179 2022-04-01falseNo description of principal activity1211falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06818506 2022-04-01 2023-03-31 06818506 2023-03-31 06818506 2021-04-01 2022-03-31 06818506 2022-03-31 06818506 c:Director1 2022-04-01 2023-03-31 06818506 d:MotorVehicles 2022-04-01 2023-03-31 06818506 d:MotorVehicles 2023-03-31 06818506 d:MotorVehicles 2022-03-31 06818506 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06818506 d:FurnitureFittings 2022-04-01 2023-03-31 06818506 d:FurnitureFittings 2023-03-31 06818506 d:FurnitureFittings 2022-03-31 06818506 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06818506 d:OfficeEquipment 2022-04-01 2023-03-31 06818506 d:OfficeEquipment 2023-03-31 06818506 d:OfficeEquipment 2022-03-31 06818506 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06818506 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06818506 d:CurrentFinancialInstruments 2023-03-31 06818506 d:CurrentFinancialInstruments 2022-03-31 06818506 d:Non-currentFinancialInstruments 2023-03-31 06818506 d:Non-currentFinancialInstruments 2022-03-31 06818506 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06818506 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06818506 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06818506 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 06818506 d:ShareCapital 2023-03-31 06818506 d:ShareCapital 2022-03-31 06818506 d:RetainedEarningsAccumulatedLosses 2023-03-31 06818506 d:RetainedEarningsAccumulatedLosses 2022-03-31 06818506 c:FRS102 2022-04-01 2023-03-31 06818506 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06818506 c:FullAccounts 2022-04-01 2023-03-31 06818506 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06818506 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 06818506













Myriad Online Limited

Financial statements
Information for filing with the registrar

31 March 2023




 
Myriad Online Limited


Balance sheet
At 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
158,214
122,074

  
158,214
122,074

Current assets
  

Debtors: amounts falling due after more than one year
 5 
3,800
-

Debtors: amounts falling due within one year
 5 
232,679
628,298

Cash at bank and in hand
  
54,341
137,056

  
290,820
765,354

Creditors: amounts falling due within one year
 6 
(116,781)
(95,458)

Net current assets
  
 
 
174,039
 
 
669,896

Total assets less current liabilities
  
332,253
791,970

Creditors: amounts falling due after more than one year
 7 
(79,091)
(180,000)

Provisions for liabilities
  

Deferred tax
  
(20,449)
-

  
 
 
(20,449)
 
 
-

Net assets
  
232,713
611,970


Capital and reserves
  

Called up share capital 
  
2
1

Profit and loss account
  
232,711
611,969

Shareholders' funds
  
232,713
611,970


1

 
Myriad Online Limited

    
Balance sheet (continued)
At 31 March 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2023.




R Linnett
Director

Company registered number: 06818506
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Myriad Online Limited
 
 

Notes to the financial statements
Year ended 31 March 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Baltimore House, Baltic Business Quarter, Gateshead, Tyne and Wear NE8 3BA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3

 
Myriad Online Limited
 

 
Notes to the financial statements
Year ended 31 March 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

4

 
Myriad Online Limited
 

 
Notes to the financial statements
Year ended 31 March 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, see below for the rates.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance method
Fixtures and fittings
-
25%
Reducing balance method
Office equipment
-
33%
Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 11).

5

 
Myriad Online Limited
 
 

Notes to the financial statements
Year ended 31 March 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
196,431
6,823
56,250
259,504


Additions
81,817
-
2,146
83,963



At 31 March 2023

278,248
6,823
58,396
343,467



Depreciation


At 1 April 2022
86,442
5,629
45,359
137,430


Charge for the year
40,534
299
6,990
47,823



At 31 March 2023

126,976
5,928
52,349
185,253



Net book value



At 31 March 2023
151,272
895
6,047
158,214



At 31 March 2022
109,989
1,194
10,891
122,074


5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
3,800
-

3,800
-


2023
2022
£
£

Due within one year

Trade debtors
134,098
159,736

Other debtors
94,861
465,738

Prepayments and accrued income
3,720
2,824

232,679
628,298


6

 
Myriad Online Limited
 
 

Notes to the financial statements
Year ended 31 March 2023

6.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
50,840
-

Trade creditors
2,246
12,792

Other taxation and social security
46,284
38,455

Obligations under finance lease and hire purchase contracts
-
40,752

Other creditors
3,116
3,459

Accruals and deferred income
14,295
-

116,781
95,458



7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
79,091
180,000

79,091
180,000


 
7