MYL Realty Ltd - Accounts to registrar (filleted) - small 18.2
MYL Realty Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2020 |
| FOR |
| MYL REALTY LTD |
| MYL REALTY LTD (REGISTERED NUMBER: 09055533) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| MYL REALTY LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 115 Craven Park Road |
| South Tottenham |
| London |
| N15 6BL |
| MYL REALTY LTD (REGISTERED NUMBER: 09055533) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MAY 2020 |
| 31.5.20 | 31.5.19 |
| (Revised) |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve | 11 |
| Retained earnings | 11 | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| MYL REALTY LTD (REGISTERED NUMBER: 09055533) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 MAY 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| MYL REALTY LTD (REGISTERED NUMBER: 09055533) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2020 |
| 1. | STATUTORY INFORMATION |
| MYL Realty Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net rent receivable, excluding value added tax. |
| Government grants |
| Government grant is recognised using accrual basis of accounting. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MYL REALTY LTD (REGISTERED NUMBER: 09055533) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2019 |
| and 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| Fair value at 31 May 2020 is represented by: |
| £ |
| Valuation in 2017 | 204,168 |
| Cost | 495,832 |
| 700,000 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.20 | 31.5.19 |
| (Revised) |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.20 | 31.5.19 |
| (Revised) |
| £ | £ |
| Bank loans (see note 8) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 359,297 | 374,846 |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.5.20 | 31.5.19 |
| (Revised) |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| MYL REALTY LTD (REGISTERED NUMBER: 09055533) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2020 |
| 8. | LOANS - continued |
| 31.5.20 | 31.5.19 |
| (Revised) |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 359,297 | 374,846 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.20 | 31.5.19 |
| (Revised) |
| £ | £ |
| Bank loans |
| 1. Long term bank loan is secured by first charge over the company's investment property. |
| 2. Short term bank loan is unsecured and received under Bounceback Loan Scheme (BBL) which is guaranteed by UK government. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.20 | 31.5.19 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 11. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 June 2019 | 198,627 |
| Deficit for the year | ( |
) | ( |
) |
| Fair value gain | 3,231 | (3,231 | ) | - |
| At 31 May 2020 | ( |
) | 170,342 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |