Registered number
04908705
Myriad Training and Consulting Ltd
Filleted Accounts
30 September 2023
Myriad Training and Consulting Ltd
Registered number: 04908705
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 300
Tangible assets 4 1,332 1,448
1,332 1,748
Current assets
Debtors 5 1,272 1,566
Cash at bank and in hand 35,867 38,637
37,139 40,203
Creditors: amounts falling due within one year 6 (26,348) (20,598)
Net current assets 10,791 19,605
Net assets 12,123 21,353
Capital and reserves
Called up share capital 100 100
Profit and loss account 12,023 21,253
Shareholders' funds 12,123 21,353
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mrs RA Driver
Director
Approved by the board on 18 January 2024
Myriad Training and Consulting Ltd
Notes to the Accounts
for the year ended 30 September 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 includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 6,000
At 30 September 2023 6,000
Amortisation
At 1 October 2022 5,700
Provided during the year 300
At 30 September 2023 6,000
Net book value
At 30 September 2023 -
At 30 September 2022 300
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 10,007
Additions 328
At 30 September 2023 10,335
Depreciation
At 1 October 2022 8,559
Charge for the year 444
At 30 September 2023 9,003
Net book value
At 30 September 2023 1,332
At 30 September 2022 1,448
5 Debtors 2023 2022
£ £
Trade debtors 1,272 1,566
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 23,943 18,974
Directors' loan account 605 24
Accruals 1,800 1,600
26,348 20,598
During the year, advances were made to the directors totalling £44,006 (23022 £46,201). For this year, the advances were fully paid off at the year end. For last year, £41,225 was paid off during the year, and £4,976 was paid off after the year end, by way of bonuses. Advances were charged to interest at HM Revenue & Customs' official rate, and were repayable on demand.
7 Controlling party
The company is controlled by Mrs RA Driver, who holds 85 out of the issued share capital of 100 £1 ordinary shares.
8 Other information
Myriad Training and Consulting Ltd is a private company limited by shares and incorporated in Cardiff. Its registered office is:
12 Lychgate
Higher Walton
Warrington
WA4 6TF
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