Company Registration No. 04583714 (England and Wales)
MY-COM TECHNOLOGY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MY-COM TECHNOLOGY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
MY-COM TECHNOLOGY LIMITED
COMPANY INFORMATION
Directors
Mr W R Jones
Mr S D Jones
Secretary
Mrs K A Jones
Company number
04583714
Registered office
1 Knights Court, Archers Way
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3GA
Accountants
James Holyoak & Parker Limited
1 Knights Court
Archers Way
Battlefield Enterprise Park
Shrewsbury
SY1 3GA
MY-COM TECHNOLOGY LIMITED
BALANCE SHEET
AS AT
30 MARCH 2024
30 March 2024
- 1 -
30 March 2024
31 March 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,731
6,145
Investment property
4
428,507
428,507
Investments
5
1,561,349
1,392,287
1,995,587
1,826,939
Current assets
Debtors
6
111,139
59,095
Cash at bank and in hand
111,447
192,753
222,586
251,848
Creditors: amounts falling due within one year
7
(159,858)
(148,831)
Net current assets
62,728
103,017
Total assets less current liabilities
2,058,315
1,929,956
Provisions for liabilities
(1,089)
(1,167)
Net assets
2,057,226
1,928,789
Capital and reserves
Called up share capital
8
750
750
Profit and loss reserves
2,056,476
1,928,039
Total equity
2,057,226
1,928,789
MY-COM TECHNOLOGY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2024
30 March 2024
- 2 -

For the financial Period ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr W R Jones
Director
Company registration number 04583714 (England and Wales)
MY-COM TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
- 3 -
1
Accounting policies
Company information

My-Com Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Knights Court, Archers Way, Battlefield Enterprise Park, Shrewsbury, Shropshire, SY1 3GA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The following financial statements represent the period to 30 March 2024.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Fixtures and fittings
25% reducing balance
Computers
33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Fixed asset investments represent holdings of listed investments with a readily available market value. Such investments are held on the balance sheet at market value with movements in market value taken to profit and loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

MY-COM TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2023
Number
Number
Total
3
3
MY-COM TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2023
16,613
2,964
3,463
23,040
Additions
-
0
-
0
1,299
1,299
At 30 March 2024
16,613
2,964
4,762
24,339
Depreciation and impairment
At 1 April 2023
11,369
2,182
3,344
16,895
Depreciation charged in the Period
1,049
196
468
1,713
At 30 March 2024
12,418
2,378
3,812
18,608
Carrying amount
At 30 March 2024
4,195
586
950
5,731
At 31 March 2023
5,244
782
119
6,145
4
Investment property
2024
£
Fair value
At 1 April 2023 and 30 March 2024
428,507

Investment property solely relates to an asset which was completed and brought into use during the year ended 31 March 2018. It is the opinion of the directors that there was no material difference between the cost of the asset and its fair value at that date.

5
Fixed asset investments
2024
2023
£
£
Investments
1,561,349
1,392,287

Fixed asset investments relate solely to publically listed investments, and are stated at stock market valuation.

MY-COM TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2023
1,392,287
Additions
448,212
Valuation changes
150,580
Disposals
(429,730)
At 30 March 2024
1,561,349
Carrying amount
At 30 March 2024
1,561,349
At 31 March 2023
1,392,287
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
111,139
59,095
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
1,549
1,549
Other creditors
156,545
145,972
Accruals and deferred income
1,764
1,310
159,858
148,831
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
740
740
740
740
Ordinary A shares of £1 each
5
5
5
5
Ordinary B shares of £1 each
5
5
5
5
750
750
750
750
MY-COM TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 7 -
9
Directors' transactions

Dividends totalling £0 (2023 - £29,500) were paid in the Period in respect of shares held by the company's directors.

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