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REGISTERED NUMBER: 09421932 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

My Options Were Limited

My Options Were Limited (Registered number: 09421932)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

My Options Were Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr J H Lycett





REGISTERED OFFICE: C/o Applause Accountancy Services Ltd
60 Beamish View
Birtley
Co. Durham
DH3 1RS





REGISTERED NUMBER: 09421932 (England and Wales)





ACCOUNTANTS: Applause Accountancy Services Limited
60 Beamish View
Birtley
Co. Durham
DH3 1RS

My Options Were Limited (Registered number: 09421932)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,042 14,134

CURRENT ASSETS
Debtors 5 179,358 109,195
Cash at bank 3,408,290 865,285
3,587,648 974,480
CREDITORS
Amounts falling due within one year 6 667,036 181,816
NET CURRENT ASSETS 2,920,612 792,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,934,654

806,798

PROVISIONS FOR LIABILITIES 2,668 2,685
NET ASSETS 2,931,986 804,113

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,931,985 804,112
2,931,986 804,113

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 director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:




Mr J H Lycett - Director


My Options Were Limited (Registered number: 09421932)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

My Options Were 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.

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 etc - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

My Options Were Limited (Registered number: 09421932)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 22,754
Additions 4,106
Disposals (848 )
At 28 February 2023 26,012
DEPRECIATION
At 1 March 2022 8,620
Charge for year 4,198
Eliminated on disposal (848 )
At 28 February 2023 11,970
NET BOOK VALUE
At 28 February 2023 14,042
At 28 February 2022 14,134

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 905 12,851
Other debtors 178,453 96,344
179,358 109,195

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 14,929 8,611
Taxation and social security 620,771 151,611
Other creditors 31,336 21,594
667,036 181,816

7. OTHER FINANCIAL COMMITMENTS

At 28 February 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £7,141 (2022: £6,200).

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J H Lycett.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
My Options Were Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of My Options Were Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of My Options Were Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of My Options Were Limited and state those matters that we have agreed to state to the director of My Options Were Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than My Options Were Limited and its director for our work or for this report.

It is your duty to ensure that My Options Were Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of My Options Were Limited. You consider that My Options Were Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of My Options Were Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Applause Accountancy Services Limited
60 Beamish View
Birtley
Co. Durham
DH3 1RS


8 November 2023