2023-08-312024-08-302024-08-30false12164996MYK INVESTMENTS 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MYK INVESTMENTS LTD

Registered Number
12164996
(England and Wales)

Unaudited Financial Statements for the Year ended
30 August 2024

MYK INVESTMENTS LTD
Company Information
for the year from 31 August 2023 to 30 August 2024

Directors

HURST, Michael Stephen John
JACKSON, Isobel Mary

Company Secretary

HURST, Michael

Registered Address

4 Glasshouse Studios Fryern Court Road
Burgate
Fordingbridge
SP6 1QX

Registered Number

12164996 (England and Wales)
MYK INVESTMENTS LTD
Balance Sheet as at
30 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,625-
5,625-
Current assets
Debtors46,024,7176,534,279
Cash at bank and on hand23,98738,580
6,048,7046,572,859
Creditors amounts falling due within one year5(88,762)(374,684)
Net current assets (liabilities)5,959,9426,198,175
Total assets less current liabilities5,965,5676,198,175
Creditors amounts falling due after one year6(5,744,222)(5,998,694)
Accruals and deferred income(1,440)(2,880)
Net assets219,905196,601
Capital and reserves
Called up share capital10,00010,000
Profit and loss account209,905186,601
Shareholders' funds219,905196,601
The financial statements were approved and authorised for issue by the Board of Directors on 29 May 2025, and are signed on its behalf by:
HURST, Michael Stephen John
Director
JACKSON, Isobel Mary
Director

Registered Company No. 12164996
MYK INVESTMENTS LTD
Notes to the Financial Statements
for the year ended 30 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of consideration received or receivable, excluding value added tax. Turnover comprises income generated from the company's principal activities, which include interest income and fees arising from the provision of credit and other financial services. Revenue is recognised in the period in which it is earned and when it is probable that the economic benefits will be received.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings20
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 31 August 23--3,8953,895
Additions-6,750-6,750
At 30 August 24-6,7503,89510,645
Depreciation and impairment
At 31 August 23--3,8953,895
Charge for year1,125--1,125
At 30 August 241,125-3,8955,020
Net book value
At 30 August 24(1,125)6,750-5,625
At 30 August 23----
4.Debtors: amounts due within one year

2024

2023

££
Other debtors337,409455,356
Total337,409455,356
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3421,550
Taxation and social security16,262-
Other creditors72,466353,134
Total88,762374,684
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors5,744,2225,998,694
Total5,744,2225,998,694