2023-03-012024-02-292024-02-29false11825054MYCENA SYSTEMS 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MYCENA SYSTEMS LTD

Registered Number
11825054
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MYCENA SYSTEMS LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

ROSE, Colin Dean

Registered Address

Mad About Bookkeeping Ltd Wolfe Mead
Farnham Road
Bordon
GU35 0NH

Registered Number

11825054 (England and Wales)
MYCENA SYSTEMS LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,1407,483
12,1407,483
Current assets
Debtors34,38424,233
Cash at bank and on hand2,55517,559
36,93941,792
Creditors amounts falling due within one year(52,708)(47,503)
Net current assets (liabilities)(15,769)(5,711)
Total assets less current liabilities(3,629)1,772
Provisions for liabilities(1,402)(1,402)
Net assets(5,031)370
Capital and reserves
Called up share capital11
Profit and loss account(5,032)369
Shareholders' funds(5,031)370
The financial statements were approved and authorised for issue by the Director on 26 November 2024, and are signed on its behalf by:
ROSE, Colin Dean
Director
Registered Company No. 11825054
MYCENA SYSTEMS LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Vehicles25
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 239,404
Additions8,703
At 29 February 2418,107
Depreciation and impairment
At 01 March 231,920
Charge for year4,047
At 29 February 245,967
Net book value
At 29 February 2412,140
At 28 February 237,483
4.Fixed asset investments