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
MYLA OF LONDON LTD
Company Information
for the year ended 31 August 2023
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
MYLA OF LONDON LTD
Statement of financial position
as at 31 August 2023
Tangible assets
16,594
17,388
Cash at bank and in hand
15,994
14,753
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)
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
MYLA OF LONDON LTD
Notes to the Accounts
for the year ended 31 August 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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 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
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.
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
At 31 August 2023
7,488
12,190
19,541
39,219
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
At 31 August 2023
5,346
2,248
9,000
16,594
At 31 August 2022
3,991
2,809
10,588
17,388
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
7
Creditors: amounts falling due after more than one year
2023
2022
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).