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Company Registration No. 10336866 (England and Wales)
MYLA OF LONDON LTD Unaudited accounts for the year ended 31 August 2023
MYLA OF LONDON LTD Unaudited accounts Contents
Page
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MYLA OF LONDON LTD Company Information for the year ended 31 August 2023
Director
Yuksel Kanmaz
Company Number
10336866 (England and Wales)
Registered Office
4 Baird Road Enfield EN1 1SJ ENGLAND
Accountants
Stoke Newington Accountants & Tax Consultants Ltd 4 Baird Road Enfield Middlesex EN1 1SJ
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MYLA OF LONDON LTD Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
16,594 
17,388 
Current assets
Inventories
76,300 
75,950 
Debtors
4,752 
24,752 
Cash at bank and in hand
15,994 
14,753 
97,046 
115,455 
Creditors: amounts falling due within one year
(109,212)
(100,499)
Net current (liabilities)/assets
(12,166)
14,956 
Total assets less current liabilities
4,428 
32,344 
Creditors: amounts falling due after more than one year
(28,055)
(37,917)
Net liabilities
(23,627)
(5,573)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(23,727)
(5,673)
Shareholders' funds
(23,627)
(5,573)
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 July 2024 and were signed on its behalf by
Yuksel Kanmaz Director Company Registration No. 10336866
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MYLA OF LONDON LTD Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
MYLA OF LONDON LTD is a private company, limited by shares, registered in England and Wales, registration number 10336866. The registered office is 4 Baird Road, Enfield, EN1 1SJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Bal Method
Motor vehicles
20% Reducing Bal Method
Going concern
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
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MYLA OF LONDON LTD Notes to the Accounts for the year ended 31 August 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 September 2022
5,190 
12,190 
19,541 
36,921 
Additions
2,298 
- 
- 
2,298 
At 31 August 2023
7,488 
12,190 
19,541 
39,219 
Depreciation
At 1 September 2022
1,199 
9,381 
8,953 
19,533 
Charge for the year
943 
561 
1,588 
3,092 
At 31 August 2023
2,142 
9,942 
10,541 
22,625 
Net book value
At 31 August 2023
5,346 
2,248 
9,000 
16,594 
At 31 August 2022
3,991 
2,809 
10,588 
17,388 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
4,752 
24,752 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
18,757 
15,057 
Taxes and social security
9,792 
9,899 
Loans from directors
67,618 
64,968 
Accruals
13,045 
10,575 
109,212 
100,499 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
28,055 
37,917 
8
Transactions with related parties
At the balance sheet date, where the director held controlling interest, the company owed the director £67,618.
9
Average number of employees
During the year the average number of employees was 1 (2022: 3).
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