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REGISTERED NUMBER: 07715940 (England and Wales)















Mytogen Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Mytogen Limited (Registered number: 07715940)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mytogen Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Dr B J Page





SECRETARY: Mrs A N I Page





REGISTERED OFFICE: Atlantic House
8 Bell Lane
Uckfield
East Sussex
TN22 1QL





REGISTERED NUMBER: 07715940 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Mytogen Limited (Registered number: 07715940)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 568,833 541,452
Investments 6 304,324 406,279
873,157 947,731

CURRENT ASSETS
Debtors 7 1,142,768 891,833
Cash at bank 1,497,128 523,475
2,639,896 1,415,308
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

6,917

175,207
NET CURRENT ASSETS 2,632,979 1,240,101
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,506,136

2,187,832

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

9

(1,482,185

)

(1,382,839

)

PROVISIONS FOR LIABILITIES (15,784 ) (17,499 )
NET ASSETS 2,008,167 787,494

Mytogen Limited (Registered number: 07715940)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 2,008,166 787,493
SHAREHOLDERS' FUNDS 2,008,167 787,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 & Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 August 2024 and were signed by:





Dr B J Page - Director


Mytogen Limited (Registered number: 07715940)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mytogen Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Mytogen Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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.

Website costs are amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 33% on cost
Computer equipment - 50% on cost and 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any impairments.


Mytogen Limited (Registered number: 07715940)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss, 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 tax
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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 34,470
AMORTISATION
At 1 April 2023
and 31 March 2024 34,470
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Mytogen Limited (Registered number: 07715940)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 597,507 - 37,403
Additions - 20,804 905
Disposals - - -
At 31 March 2024 597,507 20,804 38,308
DEPRECIATION
At 1 April 2023 57,440 - 36,440
Charge for year 9,983 4,161 536
Eliminated on disposal - - -
At 31 March 2024 67,423 4,161 36,976
NET BOOK VALUE
At 31 March 2024 530,084 16,643 1,332
At 31 March 2023 540,067 - 963

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 - 1,457 636,367
Additions 25,190 934 47,833
Disposals - (208 ) (208 )
At 31 March 2024 25,190 2,183 683,992
DEPRECIATION
At 1 April 2023 - 1,035 94,915
Charge for year 5,038 693 20,411
Eliminated on disposal - (167 ) (167 )
At 31 March 2024 5,038 1,561 115,159
NET BOOK VALUE
At 31 March 2024 20,152 622 568,833
At 31 March 2023 - 422 541,452

Mytogen Limited (Registered number: 07715940)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 406,279
Additions 109,495
Disposals (211,450 )
At 31 March 2024 304,324
NET BOOK VALUE
At 31 March 2024 304,324
At 31 March 2023 406,279

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 17,994 -
Other debtors 199,641 178,740
217,635 178,740

Amounts falling due after more than one year:
Other debtors 925,133 713,093

Aggregate amounts 1,142,768 891,833

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 630 12,852
Taxation and social security 2,009 -
Other creditors 4,278 162,355
6,917 175,207

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,482,185 1,382,839

Mytogen Limited (Registered number: 07715940)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company made advances to the director totalling £10,801 (2023 - £nil) and was repaid £nil (2023 - £nil). In addition, the company charged interest during the year at the beneficial rate of interest amounting to £79 (2023 - £nil). At the balance sheet date the director owed the company £10,801 (2023 - £nil). The loan is unsecured and repayable on demand.

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed amounts totalling £nil (2023 - £158,995) to a previously held subsidiary company, Labtech International Ltd. The subsidiary company was sold during the year.

At the balance sheet date the company was owed amounts totalling £155,973 (2023 - £142,750) from other subsidiary companies. This balance is unsecured and interest free and repayable on demand.

Also at the balance sheet date the company was owed £925,133 (2022 - £713,093) from Labtec Limited, a company which is also controlled by the director. This balance is unsecured. Interest is charged at 0% (2023 - 2.5% above the Bank of England base rate) and amounted to £nil (2023 - £31,646) repayable on demand.

During the year the company charged management fees totalling £14,750 (2023 - £nil) to a company which has similar directors.

At the balance sheet date the company was owed amounts totalling £17,700 (2023 - £nil) to a company which has similar directors. This balance is unsecured, interest free and repayable on demand.