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Registered number: 11002537










MYLILY HOLDINGS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
MYLILY HOLDINGS LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFMYLILY HOLDINGS LTD
FOR THE YEAR ENDED 30 JUNE 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mylily Holdings Ltd for the year ended 30 June 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Mylily Holdings Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Mylily Holdings Ltd and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mylily Holdings Ltd and its  director for our work or for this report.
 
 
It is your duty to ensure that Mylily Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Mylily Holdings Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Mylily Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.





Shipleys Tax Planning

30 January 2025
Page 1

 
MYLILY HOLDINGS LTD
REGISTERED NUMBER: 11002537

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
100
100

  
100
100

Current assets
  

Debtors: amounts falling due within one year
 5 
679,966
413,642

Cash at bank and in hand
 6 
102,043
226,363

  
782,009
640,005

Creditors: amounts falling due within one year
 7 
(655,333)
(509,930)

Net current assets
  
 
 
126,676
 
 
130,075

Total assets less current liabilities
  
126,776
130,175

Creditors: amounts falling due after more than one year
 8 
(25,114)
(33,318)

  

Net assets
  
101,662
96,857


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
101,562
96,757

  
101,662
96,857


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 January 2025.




Page 2

 
MYLILY HOLDINGS LTD
REGISTERED NUMBER: 11002537

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

Simon Myers
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
MYLILY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Mylily Holdings Ltd is a company domiciled in England & Wales, registration number 11002537. The registered office is Suite 313, 7 Park Row, Leeds, LS1 5HD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
MYLILY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
100



At 30 June 2023
100




Page 5

 
MYLILY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Debtors

2023
2022
£
£


Other debtors
679,966
413,642

679,966
413,642



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
102,043
226,363

102,043
226,363



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
145,399
98,539

Corporation tax
221,781
123,598

Other creditors
281,673
281,673

Accruals and deferred income
6,480
6,120

655,333
509,930



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
25,114
33,318

25,114
33,318


In 2020 the company received Government Bounce Back Loans from NatWest totalling £42,000. The loans were interest free for 12 months, after which interest is charged at 2.5% per annum. The loans are repayable to NatWest after a period of 3 years (2022: 4 years).

Page 6

 
MYLILY HOLDINGS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
25,114
33,318

25,114
33,318

25,114
33,318



10.


Related party transactions

During the year the company loaned the director £222,122 (2022: £130,795). Interest has been charged on the full loan outstanding and an additional tax charge has been applied on the current year loan increase. At the balance sheet date other debtors included £675,670 (2022: £409,345) as amounts owed by the director.
There was no movement in the year in the loan balance owed to MYDR Properties Ltd (a company which is controlled by the director Simon Myers) loaned the company £42,665. At the balance sheet date other creditors included £42,665 
(2022: £42,665) as amounts owed to MYDR Properties Ltd.
There was no movement in the year in the loan balance owed to MYDR Capital Ltd  (a company which is controlled by the director Simon Myers). At the balance sheet date other creditors included £173,196 
(2022: £173,196) as amounts owed to MYDR Capital Ltd.
There was no movement in the year in the loan balance owed to Alliance DM Ltd (a company which is controlled by the director Simon Myers). At the balance sheet date other creditors included £10,812 
(2022: £10,812) as amounts owed to Alliance DM Ltd.
There was no movement in the year in the loan balance owed to Jemex Mobile Media Ltd (a company which is controlled by the director Simon Myers). At the balance sheet date other creditors included £55,000 
(2022: £55,000) as amounts owed to Jemex Mobile Media Ltd.
During the year the company's subsidiary Mylily Capital Ltd loaned the company £46,860 
(2022: £98,539). At the balance sheet date other creditors included £145,399 (2022: £98,539) as amounts owed to Mylily Capital Ltd.


11.


Controlling party

The company is controlled by the director Simon Myers.


Page 7