Registered number
06270680
MYTHWORLD LIMITED
Filleted Accounts
30 June 2023
MYTHWORLD LIMITED
Registered number: 06270680
Balance Sheet
as at 30 June 2023
Notes 2023 2022
Fixed assets
Intangible assets 3 13,708 13,708
Creditors: amounts falling due within one year 4 (17,329) (17,329)
Net current liabilities (17,329) (17,329)
Net liabilities (3,621) (3,621)
Capital and reserves
Called up share capital 100 100
Profit and loss account (3,721) (3,721)
Shareholders' funds (3,621) (3,621)
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 Panagiota Angelopoulou
Director
Approved by the board on 29 February 2024
MYTHWORLD LIMITED
Notes to the Accounts
for the year ended 30 June 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).
Going concern
The company is supported by an interest free loan from the directors. The directors have provided informal assurances of their continued financial support for the foreseeable future. Therefore, the directors have prepared these accounts on a going concern basis.
Intellectual property rights
Intellectual property rights are valued at cost less accumulated amortisation. Amortisation will be calculated to write off the cost in equal annual instalments over their estimated useful lives. The costs related to these rights is still ongoing thus no ammortisation has yet been charged to the profit and loss account. The costs include the registration of the trademarks of Mythomachy and Once Upon a Myth.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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.
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.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets
Goodwill:
Cost
At 1 July 2022 13,708
At 30 June 2023 13,708
Amortisation
At 30 June 2023 -
Net book value
At 30 June 2023 13,708
At 30 June 2022 13,708
4 Creditors: amounts falling due within one year 2023 2022
Trade creditors 704 704
Other creditors 16,625 16,625
17,329 17,329
5 Other information
MYTHWORLD LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
147 Hempstead Road
Watford
Herts
WD17 3HF
MYTHWORLD LIMITED 06270680 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 Mrs Panagiota Angelopoulou No description of principal activity 06270680 2021-07-01 2022-06-30 06270680 core:WithinOneYear 2022-06-30 06270680 core:ShareCapital 2022-06-30 06270680 core:RetainedEarningsAccumulatedLosses 2022-06-30 06270680 2022-07-01 2023-06-30 06270680 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06270680 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 06270680 bus:Director40 2022-07-01 2023-06-30 06270680 2 2022-07-01 2023-06-30 06270680 countries:England 2022-07-01 2023-06-30 06270680 bus:FRS102 2022-07-01 2023-06-30 06270680 bus:FullAccounts 2022-07-01 2023-06-30 06270680 2023-06-30 06270680 core:WithinOneYear 2023-06-30 06270680 core:ShareCapital 2023-06-30 06270680 core:RetainedEarningsAccumulatedLosses 2023-06-30 06270680 core:Goodwill 2023-06-30 06270680 2022-06-30 06270680 core:Goodwill 2022-06-30 iso4217:EUR xbrli:pure