2
01/08/2023
31/07/2024
2024-07-31
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
No description of principal activities is disclosed
2023-08-01
Sage Accounts Production 24.0 - FRS102_2024
xbrli:pure
xbrli:shares
iso4217:GBP
08128580
2023-08-01
2024-07-31
08128580
2024-07-31
08128580
2023-07-31
08128580
2022-08-01
2023-07-31
08128580
2023-07-31
08128580
2022-07-31
08128580
core:FurnitureFittingsToolsEquipment
2023-08-01
2024-07-31
08128580
core:MotorVehicles
2023-08-01
2024-07-31
08128580
bus:RegisteredOffice
2023-08-01
2024-07-31
08128580
bus:LeadAgentIfApplicable
2023-08-01
2024-07-31
08128580
bus:Director1
2023-08-01
2024-07-31
08128580
bus:Director2
2023-08-01
2024-07-31
08128580
core:FurnitureFittingsToolsEquipment
2023-07-31
08128580
core:MotorVehicles
2023-07-31
08128580
core:FurnitureFittingsToolsEquipment
2024-07-31
08128580
core:MotorVehicles
2024-07-31
08128580
core:WithinOneYear
2024-07-31
08128580
core:WithinOneYear
2023-07-31
08128580
core:ShareCapital
2024-07-31
08128580
core:ShareCapital
2023-07-31
08128580
core:RetainedEarningsAccumulatedLosses
2024-07-31
08128580
core:RetainedEarningsAccumulatedLosses
2023-07-31
08128580
core:FurnitureFittingsToolsEquipment
2023-07-31
08128580
core:MotorVehicles
2023-07-31
08128580
bus:Director1
2023-07-31
08128580
bus:Director1
2024-07-31
08128580
bus:Director2
2023-07-31
08128580
bus:Director2
2024-07-31
08128580
bus:Director1
2022-07-31
08128580
bus:Director1
2023-07-31
08128580
bus:Director2
2022-07-31
08128580
bus:Director2
2023-07-31
08128580
bus:Director1
2022-08-01
2023-07-31
08128580
bus:Director2
2022-08-01
2023-07-31
08128580
bus:SmallEntities
2023-08-01
2024-07-31
08128580
bus:AuditExemptWithAccountantsReport
2023-08-01
2024-07-31
08128580
bus:SmallCompaniesRegimeForAccounts
2023-08-01
2024-07-31
08128580
bus:PrivateLimitedCompanyLtd
2023-08-01
2024-07-31
08128580
bus:FullAccounts
2023-08-01
2024-07-31
Company registration number:
08128580
England & Wales
My City Refurb Ltd
Unaudited filleted financial statements
Year ended
31 July 2024
My City Refurb Ltd
Contents
Directors and other information
Accountants' report
Statement of financial position
Notes to the financial statements
My City Refurb Ltd
Directors and other information
|
|
|
|
Directors |
Mr R Kosteris |
|
|
Mr D Rybski |
|
|
|
|
|
|
|
Company number |
08128580 |
|
|
|
|
|
|
|
Registered office |
Flat 8 Walbrook Court |
|
|
2 Hemsworth Street |
|
|
London |
|
|
N1 5LF |
|
|
|
|
|
|
|
Accountants |
Rogove & Company |
|
|
Chartered Accountants |
|
|
70 White Lion Street |
|
|
London |
|
|
N1 9PP |
|
|
|
My City Refurb Ltd
Chartered accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of My City Refurb Ltd
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of My City Refurb Ltd for the year ended 31 July 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of My City Refurb Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of My City Refurb Ltd and state those matters that we have agreed to state to the board of directors of My City Refurb Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than My City Refurb Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that My City Refurb 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 My City Refurb Ltd. You consider that My City Refurb 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 My City Refurb 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.
Rogove & Company
Chartered Accountants
70 White Lion Street
London
N1 9PP
28 May 2025
My City Refurb Ltd
Statement of financial position
31 July 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
4,363 |
|
|
|
4,773 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
4,363 |
|
|
|
4,773 |
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
53,876 |
|
|
|
26,580 |
|
|
|
Cash at bank and in hand |
|
|
12,315 |
|
|
|
5,190 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
66,191 |
|
|
|
31,770 |
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
77,659) |
|
|
|
(
36,312) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
Net current liabilities |
|
|
|
|
(
11,468) |
|
|
|
(
4,542) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Total assets less current liabilities |
|
|
|
|
(
7,105) |
|
|
|
231 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Net (liabilities)/assets |
|
|
|
|
(
7,105) |
|
|
|
231 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
|
Profit and loss account |
|
|
|
|
(
7,205) |
|
|
|
131 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Shareholders (deficit)/funds |
|
|
|
|
(
7,105) |
|
|
|
231 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
28 May 2025
, and are signed on behalf of the board by:
Mr R Kosteris
Director
Company registration number:
08128580
My City Refurb Ltd
Notes to the financial statements
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The company registration number is:
08128580
. The address of the registered office is Flat 8 Walbrook Court, 2 Hemsworth Street, London, N1 5LF.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The company's functional and presentational currency is Sterling.
Going concern
The directors believe that the company is experiencing good levels of sales growth and profitability and that it is well-placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for discounts, customer rebates and other similar allowances. Revenue excludes Value Added Tax.
Taxation
Taxation represents the sum of tax currently payable and deferred tax.The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Tangible assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:
|
|
|
|
|
|
Fittings fixtures and equipment |
- |
25 % |
straight line |
|
Motor vehicles |
- |
33.33 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Financial instruments
Loans are recognised at the transaction value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Tangible assets
|
|
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 August 2023 |
307 |
15,150 |
15,457 |
|
|
|
|
|
Additions |
1,166 |
- |
1,166 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2024 |
1,473 |
15,150 |
16,623 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 August 2023 |
31 |
10,653 |
10,684 |
|
|
|
|
|
Charge for the year |
77 |
1,499 |
1,576 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2024 |
108 |
12,152 |
12,260 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 July 2024 |
1,365 |
2,998 |
4,363 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2023 |
276 |
4,497 |
4,773 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
- |
7,418 |
|
Other debtors |
|
53,876 |
19,162 |
|
|
|
_______ |
_______ |
|
|
|
53,876 |
26,580 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
4,221 |
5,230 |
|
Corporation tax |
|
45,308 |
20,181 |
|
Social security and other taxes |
|
21,130 |
10,137 |
|
Other creditors |
|
7,000 |
764 |
|
|
|
_______ |
_______ |
|
|
|
77,659 |
36,312 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Directors advances, credits and guarantees
|
During the year the loans by the company to the following directors subsisted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr R Kosteris |
7,152 |
43,983 |
(
34,710) |
16,425 |
|
|
|
Mr D Rybski |
12,010 |
50,277 |
(
35,270) |
27,017 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
19,162 |
94,260 |
(
69,980) |
43,442 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr R Kosteris |
4,649 |
69,327 |
(
66,824) |
7,152 |
|
|
|
Mr D Rybski |
4,649 |
174,592 |
(
167,231) |
12,010 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
9,298 |
243,919 |
(
234,055) |
19,162 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
The above-stated loans are unsecured, interest free and repayable on demand.