Registered number
04769978
Myriad Consulting Limited
Unaudited Filleted Accounts
31 May 2023
Myriad Consulting Limited
Registered number: 04769978
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 39,250 57,082
Investments 4 50 50
39,300 57,132
Current assets
Debtors 5 67,984 117,937
Investments held as current assets 6 282,103 282,103
Cash at bank and in hand 1,807,344 1,715,517
2,157,431 2,115,557
Creditors: amounts falling due within one year 7 (81,605) (144,167)
Net current assets 2,075,826 1,971,390
Total assets less current liabilities 2,115,126 2,028,522
Provisions for liabilities (4,600) (6,908)
Net assets 2,110,526 2,021,614
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,110,524 2,021,612
Shareholder's funds 2,110,526 2,021,614
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H S Mattu
Director
Approved by the board on 30 October 2023
Myriad Consulting Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance basis
Land and buildings 20% straight line basis
Computer equipment 33% straight line basis
Fixtures, fittings, tools and equipment 25% straight line basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price)
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 37,068 13,780 106,988 157,836
At 31 May 2023 37,068 13,780 106,988 157,836
Depreciation
At 1 June 2022 14,828 6,890 79,036 100,754
Charge for the year 7,410 3,440 6,982 17,832
At 31 May 2023 22,238 10,330 86,018 118,586
Net book value
At 31 May 2023 14,830 3,450 20,970 39,250
At 31 May 2022 22,240 6,890 27,952 57,082
4 Investments
Other
investments
£
Cost
At 1 June 2022 50
At 31 May 2023 50
Historical cost
At 1 June 2022 50
At 31 May 2023 50
5 Debtors 2023 2022
£ £
Trade debtors 23,587 72,428
Other debtors 44,397 45,509
67,984 117,937
6 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 282,103 282,103
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 21,085 65,499
Taxation and social security costs 58,590 58,043
Other creditors 1,930 20,625
81,605 144,167
8 Other information
Myriad Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
51 Pinfold Street
Birmingham
B2 4AY
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