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REGISTERED NUMBER: 01797622 (England and Wales)












Financial Statements

for the Year Ended 31 March 2024

for

Mythglade Properties Limited

Mythglade Properties Limited (Registered number: 01797622)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Mythglade Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: H P Lucas-Box





REGISTERED OFFICE: 1 Stanyards Courtyard
Stanyards Farm
Chertsey Road
Chobham
Surrey
GU24 8JE





REGISTERED NUMBER: 01797622 (England and Wales)





ACCOUNTANTS: Ahmad York Limited
Chartered Certified Accountants
1 Stanyards Courtyard
Stanyards Farm
Chertsey Road
Chobham
Surrey
GU24 8JE

Mythglade Properties Limited (Registered number: 01797622)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,025 867
Investment property 5 650,000 650,000
651,025 650,867

CURRENT ASSETS
Debtors 6 26,630 44,700
Cash at bank 78,110 57,323
104,740 102,023
CREDITORS
Amounts falling due within one year 4,167 9,247
NET CURRENT ASSETS 100,573 92,776
TOTAL ASSETS LESS CURRENT
LIABILITIES

751,598

743,643

PROVISIONS FOR LIABILITIES 5,633 5,603
NET ASSETS 745,965 738,040

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 507,814 507,814
Retained earnings 238,051 230,126
SHAREHOLDERS' FUNDS 745,965 738,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mythglade Properties Limited (Registered number: 01797622)

Abridged Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2024 and were signed by:





H P Lucas-Box - Director


Mythglade Properties Limited (Registered number: 01797622)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mythglade Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and Fittings - 25% on reducing balance
Computer Equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions in accordance with Section 11. Financial assets and liabilities are measured at cost and financial assets are assessed at the end of each reporting period for objective evidence of impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Mythglade Properties Limited (Registered number: 01797622)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 1,985
Additions 440
Disposals (266 )
At 31 March 2024 2,159
DEPRECIATION
At 1 April 2023 1,118
Charge for year 235
Eliminated on disposal (219 )
At 31 March 2024 1,134
NET BOOK VALUE
At 31 March 2024 1,025
At 31 March 2023 867

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 650,000
NET BOOK VALUE
At 31 March 2024 650,000
At 31 March 2023 650,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 570,000
Valuation in 2016 60,000
Valuation in 2017 20,000
650,000

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other debtors 25,800 44,019

Mythglade Properties Limited (Registered number: 01797622)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 507,814