MYL Realty Ltd - Accounts to registrar (filleted) - small 17.3

MYL Realty Ltd - Accounts to registrar (filleted) - small 17.3

MYL REALTY LTD - Company Information

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REGISTERED NUMBER: 09055533 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

MYL REALTY LTD
MYL REALTY LTD (REGISTERED NUMBER: 09055533)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


MYL REALTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2017







DIRECTOR: S Kritzler





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 09055533 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
MYL REALTY LTD (REGISTERED NUMBER: 09055533)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 MAY 2017

31.5.17 31.5.16
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 700,000 495,832

CURRENT ASSETS
Cash at bank 376 9,721

CREDITORS
Amounts falling due within one year 90,535 87,690
NET CURRENT LIABILITIES (90,159 ) (77,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
609,841
417,863

CREDITORS
Amounts falling due after more than one
year
6
403,404
416,560
NET ASSETS 206,437 1,303

CAPITAL AND RESERVES
Called up share capital 7 1 1
Fair value reserve 8 204,168 -
Retained earnings 8 2,268 1,302
SHAREHOLDERS' FUNDS 206,437 1,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 notes form part of these financial statements

Page 2 continued...
MYL REALTY LTD (REGISTERED NUMBER: 09055533)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 26 February 2018 and were signed by:





S Kritzler - Director


The notes form part of these financial statements

Page 3
MYL REALTY LTD (REGISTERED NUMBER: 09055533)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

1. STATUTORY INFORMATION

MYL Realty 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Changes in accounting policies
The company has adopted FRS 102 for the first time in the preparation of these accounts. Accordingly the date
of transition to FRS 102 was 1 June 2015 (beginning of the accounting period of comparative year).

There are no material differences in determining the company's profit and loss under FRS 102 and the previous
framework the company adopted (the Financial Reporting Standard for Smaller Entities (effective January
2015)).

Turnover
Turnover represents net rent receivable, excluding value added tax.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2016 495,832
Revaluations 204,168
At 31 May 2017 700,000
NET BOOK VALUE
At 31 May 2017 700,000
At 31 May 2016 495,832

Page 4 continued...
MYL REALTY LTD (REGISTERED NUMBER: 09055533)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2017

5. INVESTMENT PROPERTY - continued

Fair value at 31 May 2017 is represented by:

£   
Valuation in 2017 204,168
Cost 495,832
700,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.5.17 31.5.16
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 403,404 416,560

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.5.17 31.5.16
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2016 1,302 - 1,302
Profit for the year 205,134 205,134
Fair value gain (204,168 ) 204,168 -
At 31 May 2017 2,268 204,168 206,436

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Kritzler.

Page 5