Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07703525 Mr R Hall true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07703525 2022-12-31 07703525 2023-12-31 07703525 2023-01-01 2023-12-31 07703525 frs-core:CurrentFinancialInstruments 2023-12-31 07703525 frs-core:Non-currentFinancialInstruments 2023-12-31 07703525 frs-core:ShareCapital 2023-12-31 07703525 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07703525 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07703525 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07703525 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07703525 frs-bus:SmallEntities 2023-01-01 2023-12-31 07703525 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07703525 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07703525 1 2023-01-01 2023-12-31 07703525 frs-bus:Director1 2023-01-01 2023-12-31 07703525 frs-countries:EnglandWales 2023-01-01 2023-12-31 07703525 2021-12-31 07703525 2022-12-31 07703525 2022-01-01 2022-12-31 07703525 frs-core:CurrentFinancialInstruments 2022-12-31 07703525 frs-core:Non-currentFinancialInstruments 2022-12-31 07703525 frs-core:ShareCapital 2021-12-31 07703525 frs-core:ShareCapital 2022-12-31 07703525 frs-core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 07703525 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-12-31 07703525 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07703525
MY GO Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 07703525
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 262,260 292,391
Debtors 5 54,832 56,641
Cash at bank and in hand 16,060 9,328
333,152 358,360
Creditors: Amounts Falling Due Within One Year 6 (153,855 ) (187,083 )
NET CURRENT ASSETS (LIABILITIES) 179,297 171,277
TOTAL ASSETS LESS CURRENT LIABILITIES 179,297 171,277
Creditors: Amounts Falling Due After More Than One Year 7 (29,123 ) (34,501 )
NET ASSETS 150,174 136,776
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 150,074 136,676
SHAREHOLDERS' FUNDS 150,174 136,776
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Hall
Director
31st October 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2022 100 136,504 136,604
Profit for the year and total comprehensive income - 25,172 25,172
Dividends paid - (25,000) (25,000)
As at 31 December 2022 and 1 January 2023 100 136,676 136,776
Profit for the year and total comprehensive income - 13,398 13,398
As at 31 December 2023 100 150,074 150,174
Page 3
Page 4
Notes to the Financial Statements
1. General Information
MY GO Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07703525 . The registered office is Unit 8 Wheatcroft Business Park Landmere Lane, Edwalton, Nottingham, NG12 4DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Stocks
2023 2022
£ £
Stock 262,260 292,391
Page 4
Page 5
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 6,778 38,771
Other debtors 48,054 17,870
54,832 56,641
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,020 2,232
Bank loans and overdrafts 6,913 6,728
Corporation tax - 5,803
Other taxes and social security 113,403 111,616
Other creditors 31,519 60,704
153,855 187,083
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 29,123 34,501
29,123 34,501
8. Related Party Transactions
The loan balance owed from the related party at the year end was £48,054 (2022: £19,270).
9. Ultimate Controlling Party
The company's ultimate controlling party is R Hall by virtue of his ownership of 100% of the issued share capital in the company.
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