Registered number
04769978
Myriad Consulting Limited
Unaudited Filleted Accounts
31 May 2024
Myriad Consulting Limited
Registered number: 04769978
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 84,777 39,250
Investments 4 50 50
84,827 39,300
Current assets
Debtors 5 94,858 67,984
Investments held as current assets 6 282,103 282,103
Cash at bank and in hand 1,640,032 1,807,344
2,016,993 2,157,431
Creditors: amounts falling due within one year 7 (29,489) (81,605)
Net current assets 1,987,504 2,075,826
Total assets less current liabilities 2,072,331 2,115,126
Provisions for liabilities (14,700) (4,600)
Net assets 2,057,631 2,110,526
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,057,629 2,110,524
Shareholder's funds 2,057,631 2,110,526
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.
H S Mattu
Director
Approved by the board on 10 January 2025
Myriad Consulting Limited
Notes to the Accounts
for the year ended 31 May 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance basis
Land and buildings 20% straight line basis
Computer equipment 33% straight line basis
Fixtures, fittings, tools and equipment 25% straight line basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price)
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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 37,068 13,780 106,988 157,836
Additions - - 97,742 97,742
Disposals - - (106,988) (106,988)
At 31 May 2024 37,068 13,780 97,742 148,590
Depreciation
At 1 June 2023 22,238 10,330 86,018 118,586
Charge for the year 7,430 3,450 20,365 31,245
On disposals - - (86,018) (86,018)
At 31 May 2024 29,668 13,780 20,365 63,813
Net book value
At 31 May 2024 7,400 - 77,377 84,777
At 31 May 2023 14,830 3,450 20,970 39,250
4 Investments
Other
investments
£
Cost
At 1 June 2023 50
At 31 May 2024 50
Historical cost
At 1 June 2023 50
At 31 May 2024 50
5 Debtors 2024 2023
£ £
Trade debtors 10,233 23,587
Other debtors 84,625 44,397
94,858 67,984
6 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 282,103 282,103
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 21,085
Taxation and social security costs 16,215 58,590
Other creditors 13,274 1,930
29,489 81,605
8 Other information
Myriad Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
51 Pinfold Street
Birmingham
B2 4AY
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