Mysonex Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04280654 (England and Wales)

Unaudited Financial Statements

for the Year Ended 2 March 2021

for

Mysonex Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M J Henry

REGISTERED OFFICE:

33 The Crescent

Northwich

Cheshire

CW9 8AD

REGISTERED NUMBER:

04280654 (England and Wales)

ACCOUNTANTS:

Buxton Accounting LLP

Chartered Accountants

98 Middlewich Road

Northwich

Cheshire

CW9 7DA

FIXED ASSETS

Tangible assets

4

685,906

686,208

CURRENT ASSETS

Debtors

5

1,025

5,993

Cash at bank

59,137

20,962

60,162

26,955

CREDITORS

Amounts falling due within one year

6

221,250

201,563

NET CURRENT LIABILITIES

(161,088

)

(174,608

)

TOTAL ASSETS LESS CURRENT LIABILITIES

524,818

511,600

CAPITAL AND RESERVES

Called up share capital

7

3

3

Revaluation reserve

8

265,793

265,793

Retained earnings

8

259,022

245,804

SHAREHOLDERS' FUNDS

524,818

511,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 2 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 2 March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 5 August 2021 and were signed by:

Mr M J Henry - Director

1.	STATUTORY INFORMATION

Mysonex Ltd 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 3 March 2020

and 2 March 2021

685,000

8,052

1,027

DEPRECIATION

At 3 March 2020

-

8,052

890

Charge for year

-

-

34

At 2 March 2021

-

8,052

924

NET BOOK VALUE

At 2 March 2021

685,000

-

103

At 2 March 2020

685,000

-

137

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 3 March 2020

and 2 March 2021

8,026

6,245

708,350

DEPRECIATION

At 3 March 2020

6,955

6,245

22,142

Charge for year

268

-

302

At 2 March 2021

7,223

6,245

22,444

NET BOOK VALUE

At 2 March 2021

803

-

685,906

At 2 March 2020

1,071

-

686,208

Cost or valuation at 2 March 2021 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Valuation in 2020

265,793

-

-

Cost

419,207

8,052

1,027

685,000

8,052

1,027

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2020

-

-

265,793

Cost

8,026

6,245

442,557

8,026

6,245

708,350

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2021

2020

£

£

Cost

419,207

419,207

Value of land in freehold land and buildings

200,000

200,000

Freehold land and buildings were valued on an open market basis basis on 21 July 2020 by Wright Marshall Chartered Surveyors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,025

5,993

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Corporation tax

3,233

-

Social security and other taxes

204

421

VAT

4,421

4,348

Other creditors

5,000

5,000

Directors' current accounts

207,317

190,744

Accrued expenses

1,075

1,050

221,250

201,563

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary "A"

£1

2

2

1

Ordinary "B"

£1

1

1

3

3

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 3 March 2020

245,804

265,793

511,597

Profit for the year

14,023

14,023

Dividends

(805

)

(805

)

At 2 March 2021

259,022

265,793

524,815

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date of 2 March 2021, the company owed £207,317 to Mr M J Henry (2020: £190,744).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr M J Henry.

The ultimate controlling party is Mr M J Henry.