MYNA Limited 31/12/2021 iXBRL

MYNA Limited 31/12/2021 iXBRL

MYNA LIMITED - Company Information

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Company registration number: 05085663
MYNA Limited
Unaudited filleted financial statements
31 December 2021
MYNA Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
MYNA Limited
Directors and other information
Directors Mr N Cannings
Mr B F Shellie
Mr W Cannings
Secretary Mr A Burns
Company number 05085663
Registered office St Clare House
30-33 Minories
London
EC3N 1DD
Business address St Clare House
30-33 Minories
London
EC3N 1DD
Accountants Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
MYNA Limited
Statement of financial position
31 December 2021
31/12/21 31/12/20
Note £ £ £ £
Current assets
Debtors 5 2,403 128,987
Cash at bank and in hand 45,190 9,029
_______ _______
47,593 138,016
Creditors: amounts falling due
within one year 6 ( 4,087) ( 128,835)
_______ _______
Net current assets 43,506 9,181
_______ _______
Total assets less current liabilities 43,506 9,181
Creditors: amounts falling due
after more than one year 7 ( 10,592) ( 13,790)
_______ _______
Net assets/(liabilities) 32,914 ( 4,609)
_______ _______
Capital and reserves
Called up share capital 9 952 952
Profit and loss account 31,962 ( 5,561)
_______ _______
Shareholders funds/(deficit) 32,914 ( 4,609)
_______ _______
For the year ending 31 December 2021 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 September 2022 , and are signed on behalf of the board by:
Mr N Cannings
Director
Company registration number: 05085663
MYNA Limited
Statement of changes in equity
Year ended 31 December 2021
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2019 2 537 539
Profit/(loss) for the year ( 6,098) ( 6,098)
_______ _______ _______
Total comprehensive income for the year - ( 6,098) ( 6,098)
Issue of shares 950 950
_______ _______ _______
Total investments by and distributions to owners 950 - 950
At 31 December 2020 (as previously reported) 951 (5,559) (4,608)
Prior period adjustments 1 (1) (-)
_______ _______ _______
At 31 December 2020 (restated) and 1 January 2021 952 ( 5,560) ( 4,608)
Profit/(loss) for the year 37,522 37,522
_______ _______ _______
Total comprehensive income for the year - 37,522 37,522
_______ _______ _______
At 31 December 2021 952 31,962 32,914
_______ _______ _______
MYNA Limited
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is St Clare House, 30-33 Minories, London, EC3N 1DD.
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 comparatives are for the period ended 31 December 2020 which is a 16 month period. This was extended for business reasons. Therefore the comparatives are not entirely comparable.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2020: 3 ).
5. Debtors
31/12/21 31/12/20
£ £
Other debtors 2,403 128,987
_______ _______
6. Creditors: amounts falling due within one year
31/12/21 31/12/20
£ £
Bank loans and overdrafts 3,100 1,710
Trade creditors - 120,000
Social security and other taxes 237 -
Other creditors 750 7,125
_______ _______
4,087 128,835
_______ _______
7. Creditors: amounts falling due after more than one year
31/12/21 31/12/20
£ £
Bank loans and overdrafts 10,592 13,790
_______ _______
Included within creditors: amounts falling due after more than one year is an amount of £ - (2020 £ 1,367 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8. Prior period errors
During the year it was identified that on incorporation 2 ordinary shares of £1 each were issued and fully paid. The financial statements submitted for the periods up to and including 31 December 2020 only disclosed 1 ordinary share of £1 as issued and fully paid. This has been adjusted for between issued share capital and retained profit and loss account.
9. Called up share capital
Issued, called up and fully paid
31/12/21 31/12/20
No £ No £
Ordinary shares shares of £ 1.00 each 2 2 2 2
Ordinary shares shares of £ 0.01 each 95,000 950 95,000 950
_______ _______ _______ _______
95,002 952 95,002 952
_______ _______ _______ _______
10. Related party transactions
At 31 December 2021 director W Cannings was owed £50 (2020 - £50) by the company. No interest is accruing on this loan.
11. Controlling party
The company is controlled by the directors.