Company registration number 12467402 (England and Wales)
MYDATA-T LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MYDATA-T LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MYDATA-T LTD
COMPANY INFORMATION
Directors
G. SOBCZAK
X .C GOBERT
D. Mair
Company number
12467402
Registered office
Belmont Building
Belmont Road
Uxbridge
UB8 1HE
Accountants
01 Accounting Services Ltd
23 Copenhagen Street
London
UK
N1 0JB
MYDATA-T LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,071
6,646
Current assets
Debtors
5
377,548
358,409
Cash at bank and in hand
51,360
158,909
428,908
517,318
Creditors: amounts falling due within one year
6
(418,073)
(515,248)
Net current assets
10,835
2,070
Net assets
14,906
8,716
Capital and reserves
Called up share capital
7
100,000
100,000
Profit and loss reserves
(85,094)
(91,284)
Total equity
14,906
8,716
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 September 2024 and are signed on its behalf by:
G. SOBCZAK
Director
Company registration number 12467402 (England and Wales)
MYDATA-T LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
MYDATA-T LTD is a private company limited by shares incorporated in England and Wales. The registered office is Belmont Building, Belmont Road, Uxbridge, England, UB8 1HE
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Leases
MYDATA-T LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
5
MYDATA-T LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
9,377
Additions
1,455
At 31 December 2023
10,832
Depreciation and impairment
At 1 January 2023
2,731
Depreciation charged in the year
4,030
At 31 December 2023
6,761
Carrying amount
At 31 December 2023
4,071
At 31 December 2022
6,646
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
150,685
261,217
Other debtors
226,863
97,192
377,548
358,409
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
241,645
352,594
Amounts owed to group undertakings
2,743
Taxation and social security
56,549
38,233
Other creditors
117,136
124,421
418,073
515,248
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £100 each
1,000
1,000
100,000
100,000
MYDATA-T LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
19,602
45,738
9
Parent company
The parent undertaking of the smallest group of undertakings for which group accounts are drawn up of which the company is a member is MYDATA SAS, incorporated in Belgium which is the company's immediate parent company . MYDATA-SAS prepared group financial statements and copies can be obtained from Boulevard Initialis 7 - Boite N°3 - 7000 Mons - Belgium
The company has taken advantage of the exemption not to disclose transactions entered into by two or members of a group where a subsidiary that is party to a transaction is wholly owned by such a member.
The company is a wholly owned subsidiary of MYDATA SAS, a company incorporated in Belgium