Registered number
13274126
Myfam Limited
Filleted Accounts
31 March 2024
Myfam Limited
Registered number: 13274126
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 294,794 294,794
Current assets
Cash at bank 9,220 8,509
Creditors: amounts falling due within one year 3 (116,858) (115,968)
Net current liabilities (107,638) (107,459)
Total assets less current liabilities 187,156 187,335
Creditors: amounts falling due after more than one year 4 (184,620) (184,620)
Shareholder's funds 2,536 2,715
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,535 2,714
Shareholder's funds 2,536 2,715
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P A Myers
Director
Approved by the board on 7 January 2025
Myfam Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rents and fees receivable net of VAT
Tangible fixed assets
Tangible fixed assets represent leasehold investment property, which is included in the Balance
Sheet at its cost. No is provided.depreciation
Although this accounting policy is in accordance with the applicable accounting standard
SSAP 19 "Accounting for investment properties", it is a departure from the general requirement of
the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors,
compliance with the standard is necessary for the financial statements to give a true and fair view.
Depreciation or amortisation is only one of many factors reflected in the annual valuation, and the
amount of this which might otherwise have been charged cannot be separately identified or quantified
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax - 400
Accruals 500 1,985
Tenant's deposit 6,000 5,000
Rent received in advance - 1,667
Vat 915 555
Director's Loan 109,443 106,361
116,858 115,968
4 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 184,620 184,620
5 Other information
Myfam Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Alconbury Road
London
E5 8RH
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