MY8 LIMITED - Accounts

MY8 LIMITED - Accounts

MY8 LIMITED - Company Information

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Registered Number: 07635327
England and Wales

 

 

 

MY8 LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2019

End date: 30 June 2020

MY8 LIMITED
Contents Page
For the year ended 30 June 2020
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 26,753    33,542 
26,753    33,542 
Current assets      
Debtors 161,408    33,508 
Cash at bank and in hand 176    1,468 
161,584    34,976 
Creditors: amount falling due within one year (196,240)   (238,868)
Net current liabilities (34,656)   (203,892)
 
Total assets less current liabilities (7,903)   (170,350)
Creditors: amount falling due after more than one year (4,068)   0 
Net liabilities (11,971)   (170,350)
 

Capital and reserves 		     
Called up share capital 3 45    45 
Profit and loss account (12,016)   (170,395)
Shareholders funds (11,971)   (170,350)
 


For the year ended 30 June 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

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 by the director on 30 June 2021 and were signed by:


--------------------------------
Jason Kingsley Drummond
Director
1
General Information
MY8 LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07635327, registration address 12th Floor, 6 New Street Square, London, EC4A 3BF

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 33% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2019 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 July 2019 65,766    11,056    3,268    80,090 
Additions -    -    -    - 
Disposals -    -    -    - 
At 30 June 2020 65,766    11,056    3,268    80,090 
Depreciation
At 01 July 2019 37,369    6,528    2,653    46,550 
Charge for year 5,679    905    203    6,787 
On disposals -    -    -    - 
At 30 June 2020 43,048    7,433    2,856    53,337 
Net book values
Closing balance as at 30 June 2020 22,718    3,623    412    26,753 
Opening balance as at 01 July 2019 28,398    4,529    615    33,542 


4.

Share Capital

Authorised
45 Class A shares of £1.00 each
Allotted, called up and fully paid
2020
£		   2019
£
45 Class A shares of £1.00 each 45    45 
45    45 

2