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Registered number: SC411577
Mycos Consulting Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC411577
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,277 1,974
2,277 1,974
CURRENT ASSETS
Debtors 5 15,989 9,460
Cash at bank and in hand 173 337
16,162 9,797
Creditors: Amounts Falling Due Within One Year 6 (5,867 ) (3,849 )
NET CURRENT ASSETS (LIABILITIES) 10,295 5,948
TOTAL ASSETS LESS CURRENT LIABILITIES 12,572 7,922
Creditors: Amounts Falling Due After More Than One Year 7 (5,200 ) (7,875 )
NET ASSETS 7,372 47
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 7,371 46
SHAREHOLDERS' FUNDS 7,372 47
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Wilkinson
Director
26 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mycos Consulting Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC411577 . The registered office is 39 Currievale Park, Edinburgh, EH14 5TL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Tangible Assets
Land & Property
Leasehold Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 3,428 2,929 6,357
Additions - 849 849
As at 30 November 2023 3,428 3,778 7,206
Depreciation
As at 1 December 2022 2,165 2,218 4,383
Provided during the period 252 294 546
As at 30 November 2023 2,417 2,512 4,929
Net Book Value
As at 30 November 2023 1,011 1,266 2,277
As at 1 December 2022 1,263 711 1,974
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,724 1,256
Other taxes and social security 36 36
Director's loan account 8,229 8,168
15,989 9,460
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 2,400 2,281
Corporation tax 3,467 1,568
5,867 3,849
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 5,200 7,875
5,200 7,875
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr John Wilkinson 8,168 15,551 (15,490 ) - 8,229
The above loan is unsecured, interest free and repayable on demand.
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