Myburo Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06614538 (England and Wales)

Myburo Limited

Financial Statements

for the Year Ended 31 December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

NS Payne

SP Robinson

SECRETARY:

SP Robinson

REGISTERED OFFICE:

Mynshulls House

14 Cateaton Street

Manchester

M3 1SQ

REGISTERED NUMBER:

06614538 (England and Wales)

AUDITORS:

McMillan & Co LLP

Chartered Accountants and

Statutory Auditor

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

CURRENT ASSETS

Debtors

5

1

1

CREDITORS

Amounts falling due within one year

6

343,855

343,855

NET CURRENT LIABILITIES

(343,854

)

(343,854

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(343,854

)

(343,854

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(343,855

)

(343,855

)

SHAREHOLDERS' FUNDS

(343,854

)

(343,854

)

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 on 23 September 2019 and were signed on its behalf by:

SP Robinson - Director

1.	STATUTORY INFORMATION

Myburo Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

The amounts in the financial statements have been rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

At the balance sheet date the company had an excess of liabilities over assets. The financial

statements have been prepared on a going concern basis as the major shareholder of the ultimate

parent undertaking, Nikal (Jersey) Limited, has confirmed that the parent company will continue to

provide support to the company for the foreseeable future.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual

arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

1

1

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

343,855

343,855

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Share capital

£1

1

1

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil McMillan FCA (Senior Statutory Auditor)

for and on behalf of McMillan & Co LLP

9.	RELATED PARTY DISCLOSURES

During the year rental of £Nil (2017: £80,000) was paid to Nikal Limited, the parent company.

Included within creditors is £343,855 (2017: £343,855) due to Nikal Limited, the parent company.

10.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Nikal (Jersey) Limited, a company incorporated in Jersey. Nikal

(Jersey) Limited is exempt from the requirement to prepare group accounts. Nikal (Jersey) Limited is a

UK resident company for tax purposes.

The company is ultimately controlled by the directors of the ultimate parent company.