MUSLYT LTD

Company Registration Number:
09945271 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

MUSLYT LTD

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

MUSLYT LTD

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Called up share capital not paid: 1 1
Fixed assets
Tangible assets: 3 5,301 7,923
Total fixed assets: 5,301 7,923
Current assets
Debtors:   220,738 265,287
Cash at bank and in hand: 25,781 23,330
Total current assets: 246,519 288,617
Creditors: amounts falling due within one year: 4 (429,602) (260,898)
Net current assets (liabilities): (183,083) 27,719
Total assets less current liabilities: (177,781) 35,643
Creditors: amounts falling due after more than one year: 5 (27,853) (10,072)
Total net assets (liabilities): (205,634) 25,571
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (205,635) 25,570
Shareholders funds: (205,634) 25,571

The notes form part of these financial statements

MUSLYT LTD

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 February 2025
and signed on behalf of the board by:

Name: M. Masitoko
Status: Director

The notes form part of these financial statements

MUSLYT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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

Tangible fixed assets and depreciation policy

Depreciation is provided over the useful life of the asset. Assets are depreciated using the straight line method.

Other accounting policies

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in the profit and loss account in sundry costs.

MUSLYT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 25 27

MUSLYT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible Assets

Total
Cost £
At 01 June 2023 23,911
Additions 2,558
At 31 May 2024 26,469
Depreciation
At 01 June 2023 15,988
Charge for year 5,180
At 31 May 2024 21,168
Net book value
At 31 May 2024 5,301
At 31 May 2023 7,923

MUSLYT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Creditors: amounts falling due within one year note

Taxation and National Insurance £311,382 and Other creditors £118,221.

MUSLYT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due after more than one year note

Borrowings £27,853.

MUSLYT LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Loans to directors

Name of director receiving advance or credit: Mrs M Masitoko
Description of the loan: Loans were obtained in prior years for personal use.
£
Balance at 01 June 2023 205,412
Advances or credits repaid: 45,831
Balance at 31 May 2024 159,581