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REGISTERED NUMBER: SC268055 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 May 2024

for

MYRA Properties Ltd

MYRA Properties Ltd (Registered number: SC268055)






Contents of the Financial Statements
For The Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

MYRA Properties Ltd

Company Information
For The Year Ended 31 May 2024







DIRECTORS: W Donnelly
Mrs C Donnelly





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC268055 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

MYRA Properties Ltd (Registered number: SC268055)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 644,050 610,501

CURRENT ASSETS
Debtors 5 10,994 11,320
Cash at bank 1,112,439 419,972
1,123,433 431,292
CREDITORS
Amounts falling due within one year 6 766,812 54,293
NET CURRENT ASSETS 356,621 376,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,000,671

987,500

CREDITORS
Amounts falling due after more than one
year

7

(35,053

)

-

PROVISIONS FOR LIABILITIES 8 (4,788 ) (121 )
NET ASSETS 960,830 987,379

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 960,730 987,279
SHAREHOLDERS' FUNDS 960,830 987,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MYRA Properties Ltd (Registered number: SC268055)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





W Donnelly - Director


MYRA Properties Ltd (Registered number: SC268055)

Notes to the Financial Statements
For The Year Ended 31 May 2024

1. STATUTORY INFORMATION

MYRA Properties Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Financial instruments
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.

Creditors
Short term trade 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.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

Stock
Stock is held at the lower of cost and net realisable value. Due to recent economic conditions the items included within stock have been rented out over a short term lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

MYRA Properties Ltd (Registered number: SC268055)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 634,390 9,053 - 643,443
Additions - - 56,125 56,125
Disposals - (894 ) - (894 )
At 31 May 2024 634,390 8,159 56,125 698,674
DEPRECIATION
At 1 June 2023 28,615 4,327 - 32,942
Charge for year 12,688 575 8,419 21,682
At 31 May 2024 41,303 4,902 8,419 54,624
NET BOOK VALUE
At 31 May 2024 593,087 3,257 47,706 644,050
At 31 May 2023 605,775 4,726 - 610,501

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 10,994 11,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 10,516 -
Taxation and social security 3,588 9,996
Other creditors 752,708 44,297
766,812 54,293

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 35,053 -

8. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 4,788 121

MYRA Properties Ltd (Registered number: SC268055)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2023 121
Charge to Income Statement during year 4,667
Balance at 31 May 2024 4,788

9. RELATED PARTY DISCLOSURES

At the year end the director of the company was due £746,325 (2023 - £35,964). The loan is interest free and has no fixed repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
MYRA Properties Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MYRA Properties Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of MYRA Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MYRA Properties Ltd and state those matters that we have agreed to state to the Board of Directors of MYRA Properties Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MYRA Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MYRA Properties Ltd. You consider that MYRA Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MYRA Properties 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.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


27 February 2025