Company registration number: 02746220
Unaudited financial statements
for the year ended 31 December 2023
for
Myriad Technologies Limited
Pages for filing with the Registrar
Company registration number: 02746220
Myriad Technologies Limited
Balance sheet
as at 31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 16,447 32,893
16,447 32,893
Current assets
Stocks 66,193 56,497
Debtors 3,925 9,557
Cash at bank and in hand 274,884 163,629
345,002 229,683
Creditors: amounts falling due within
one year
(26,119) (12,714)
Net current assets 318,883 216,969
Total assets less current liabilities 335,330 249,862
NET ASSETS 335,330 249,862
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 325,330 239,862
TOTAL EQUITY 335,330 249,862
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 02746220
Myriad Technologies Limited
Balance sheet - continued
as at 31 December 2023
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 and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 2 September 2024 and signed on its behalf by:
Mr P Dalton, Director Mr H Mathew, Director
2 September 2024 2 September 2024
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Myriad Technologies Limited
Notes to the financial statements
for the year ended 31 December 2023
1 Company information
The company is registered in England and Wales. Its registered number is 02746220. The company is limited by shares. Its registered office is Unit 14 Apollo Office Park, Ironstone Lane, Wroxton, OX15 6AY.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Fixtures & fittings - 20% on cost
Motor vehicles - 33% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Myriad Technologies Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 2 (2022 - 2).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 January 2023 73,857
At 31 December 2023 73,857
Depreciation
At 1 January 2023 40,964
Charge for year 16,446
At 31 December 2023 57,410
Net book value
At 31 December 2023 16,447
At 31 December 2022 32,893
5 Related party transactions
During the year the company received £57,500 (2022: £Nil) in management charge
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Myriad Technologies Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
6 Dividends
Dividends of £12,500 (2022: £Nil) were declared and paid during the year.
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