Company registration number: 06745938
Unaudited financial statements
for the year ended 31 December 2022
for
Myrings Estate Agents Ltd
Pages for filing with the Registrar
Company registration number: 06745938
Myrings Estate Agents Ltd
Balance sheet
as at 31 December 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 124,146 109,130
124,146 109,130
Current assets
Debtors 1,211,708 907,367
Cash at bank and in hand 139,312 364,050
1,351,020 1,271,417
Creditors: amounts falling due within
one year
(228,864) (490,347)
Net current assets 1,122,156 781,070
Total assets less current liabilities 1,246,302 890,200
Creditors: Amounts falling due after
more than one year
(53,112) -
Provisions for liabilities (9,062) (7,474)
NET ASSETS 1,184,128 882,726
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,184,028 882,626
TOTAL EQUITY 1,184,128 882,726
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2022.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 06745938
Myrings Estate Agents Ltd
Balance sheet - continued
as at 31 December 2022
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 30 April 2024 and signed on its behalf by:
Mr S Myring, Director
30 April 2024
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Myrings Estate Agents Ltd
Notes to the financial statements
for the year ended 31 December 2022
1 Company information
The company is registered in England and Wales. Its registered number is 06745938. The company is limited by shares. Its registered office is 7 St James Business Park, Grimbald Crag Court, Knaresborough, HG5 8QB.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Patents & licences - 5% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Fixtures & fittings - 10% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 33% straight line
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Myrings Estate Agents Ltd
Notes to the financial statements - continued
for the year ended 31 December 2022
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or lossover the relevant period. The capital element of the future payments is treated as a liability.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 15 (2021 - 13).
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Myrings Estate Agents Ltd
Notes to the financial statements - continued
for the year ended 31 December 2022
4 Intangible assets
Other
intangible
assets
£
Cost
At 1 January 2022 22,159
At 31 December 2022 22,159
Amortisation
At 1 January 2022 22,159
At 31 December 2022 22,159
Net book value
At 31 December 2022 -
At 31 December 2021 -
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 January 2022 186,912
Additions 88,744
Disposals (76,341)
At 31 December 2022 199,315
Depreciation
At 1 January 2022 77,782
Charge for year 27,492
Eliminated on disposal (30,105)
At 31 December 2022 75,169
Net book value
At 31 December 2022 124,146
At 31 December 2021 109,130
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