MYK RETAIL LIMITED


Director	YAQUB, Omar Khokhar


Registered Address	Community House
	Badger Street
	Bury
	BL9 6AD


Registered Number	12007277 (England and Wales)

Statement of Financial Position
31 May 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		11,011		12,970
			11,011		12,970
Current assets
Debtors	4	253,105		191,500
Cash at bank and on hand		915		1,353
		254,020		192,853
Creditors amounts falling due within one year	5	(65,108)		(40,060)
Net current assets (liabilities)			188,912		152,793
Total assets less current liabilities			199,923		165,763
Creditors amounts falling due after one year	6		(319,918)		(242,666)
Net assets			(119,995)		(76,903)
Capital and reserves
Called up share capital			1		1
Profit and loss account			(119,996)		(76,904)
Shareholders' funds			(119,995)		(76,903)

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 27 May 2026, and are signed on its behalf by:

YAQUB, Omar Khokhar
Director
Registered Company No. 12007277

MYK RETAIL LIMITED

Notes to the Financial Statements
for the year ended 31 May 2025

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	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 (%)
	Plant and machinery	15
	Fixtures and fittings	20
	Vehicles	15

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		4

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 June 24	19,814
	At 31 May 25	19,814
	Depreciation and impairment
	At 01 June 24	6,844
	Charge for year	1,959
	At 31 May 25	8,803
	Net book value
	At 31 May 25	11,011
	At 31 May 24	12,970

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	62,256	53,600
Other debtors	36,598	31,614
Total	98,854	85,214


	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.

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

	2025	2024
	£	£
Trade creditors / trade payables	56,208	29,026
Bank borrowings and overdrafts	-	34
Other creditors	8,900	11,000
Total	65,108	40,060


	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

	2025	2024
	£	£
Bank borrowings and overdrafts	29,680	59,467
Amounts owed to related parties	54,032	24,127
Other creditors	236,206	159,072
Total	319,918	242,666