Myphizz Limited 13160342 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of educational support development. Digita Accounts Production Advanced 6.30.9574.0 true 13160342 2023-02-01 2024-01-31 13160342 2024-01-31 13160342 core:RetainedEarningsAccumulatedLosses 2024-01-31 13160342 core:ShareCapital 2024-01-31 13160342 core:CurrentFinancialInstruments 2024-01-31 13160342 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13160342 core:FurnitureFittingsToolsEquipment 2024-01-31 13160342 bus:SmallEntities 2023-02-01 2024-01-31 13160342 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13160342 bus:FilletedAccounts 2023-02-01 2024-01-31 13160342 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13160342 bus:RegisteredOffice 2023-02-01 2024-01-31 13160342 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 13160342 bus:Director2 2023-02-01 2024-01-31 13160342 bus:Director3 2023-02-01 2024-01-31 13160342 bus:Director4 2023-02-01 2024-01-31 13160342 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13160342 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 13160342 countries:EnglandWales 2023-02-01 2024-01-31 13160342 2023-01-31 13160342 core:FurnitureFittingsToolsEquipment 2023-01-31 13160342 2022-02-01 2023-01-31 13160342 2023-01-31 13160342 core:RetainedEarningsAccumulatedLosses 2023-01-31 13160342 core:ShareCapital 2023-01-31 13160342 core:CurrentFinancialInstruments 2023-01-31 13160342 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13160342 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-01-31 13160342 core:FurnitureFittingsToolsEquipment 2023-01-31 13160342 core:PreviouslyStatedAmount 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13160342

Myphizz Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Myphizz Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Myphizz Limited

(Registration number: 13160342)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

627

837

Current assets

 

Debtors

5

16,489

965

Cash at bank and in hand

 

61,826

42,138

 

78,315

43,103

Creditors: Amounts falling due within one year

6

(30,264)

(56,577)

Net current assets/(liabilities)

 

48,051

(13,474)

Net assets/(liabilities)

 

48,678

(12,637)

Capital and reserves

 

Called up share capital

40

40

Retained earnings

48,638

(12,677)

Shareholders' funds/(deficit)

 

48,678

(12,637)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

 

Myphizz Limited

(Registration number: 13160342)
Balance Sheet as at 31 January 2024

.........................................
Mr M J Brennan
Company secretary and director

.........................................
Mr A McBride
Director

.........................................
Mr B M McBride
Director

.........................................
Mr S R Howse
Director

     
 

Myphizz Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
27 Bennetthorpe
Doncaster
South Yorkshire
DN2 6AA

These financial statements were authorised for issue by the Board on 1 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Myphizz Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Myphizz Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,115

1,115

At 31 January 2024

1,115

1,115

Depreciation

At 1 February 2023

278

278

Charge for the year

210

210

At 31 January 2024

488

488

Carrying amount

At 31 January 2024

627

627

At 31 January 2023

837

837

5

Debtors

2024
£

2023
£

Trade debtors

16,449

925

Other debtors

40

40

16,489

965

 

Myphizz Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

8,034

Taxation and social security

 

11,807

11,653

Corporation tax

 

16,302

14,679

Other creditors

 

361

20,515

Accrued expenses

 

1,794

1,696

 

30,264

56,577