MY TELECOMMUNICATION LTD
MY TELECOMMUNICATION LTD
Registered number: 08054787
Financial Statements
For The Year Ended
31 May 2023
MY TELECOMMUNICATION LTD
Financial Statements
For The Year Ended
31 May 2023
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
Page 1
MY TELECOMMUNICATION LTD
Balance Sheet
As At
31 May 2023
Balance Sheet
Registered number:
08054787
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
( |
( |
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| NET LIABILITIES |
( |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
( |
( |
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| SHAREHOLDERS' FUNDS | (111,819) | (122,386) | |||
On behalf of the board
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Director
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
MY TELECOMMUNICATION LTD
Notes to the Financial Statements
For The Year Ended
31 May 2023
Notes to the Financial Statements
1.
General Information
MY TELECOMMUNICATION LTD
is a private company, limited by shares, incorporated in England & Wales, registered number
08054787
. The registered office is 93 Grangewood Street, London, England, E6 1HB.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
5.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Other taxes and social security | - |
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| Net wages | 4,400 | 1,309 | |
| Pension payable |
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| Accruals and deferred income |
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| Director's loan account |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| BBL |
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Page 2
Page 3
MY TELECOMMUNICATION LTD
Notes to the Financial Statements (continued)
For The Year Ended
31 May 2023
7.
Share Capital
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
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Md Mohiuddin hold shareholding 100%
Page 3