MYSA Property Limited - Period Ending 2019-12-31

MYSA Property Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 4

MYSA Property Limited

Company Information

Directors

Mr Robin Silander Mrs Caroline Silander

Registered office

5 Bonaly Road Edinburgh EH13 0EB

Accountants

Sense Accounting & Bookkeeping Limited 36 Bruntsfield Place Edinburgh EH10 4HJ

MYSA Property Limited

(Registration number: SC553369)
Balance Sheet as at 31 December 2019

	Note	2019 £	2018 £
Current assets
Cash at bank and in hand		6,457	6,835
Creditors: Amounts falling due within one year	4	(18,640)	(18,760)
Net liabilities		(12,183)	(11,925)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(12,185)	(11,927)
Total equity		(12,183)	(11,925)

For the financial year ending 31 December 2019 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 December 2020 and signed on its behalf by:

.........................................

Mr Robin Silander

Director

MYSA Property Limited

Notes to the Financial Statements for the Year Ended 31 December 2019

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom .

The address of its registered office is:
5 Bonaly Road
Edinburgh
EH13 0EB
United Kingdom

These financial statements were authorised for issue by the Board on 22 December 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the yearend the company is in a net liability position as such the directors have indicated they will continue to support the company for the next 12 months where required to ensure that liabilities are paid as they fall due. On this basis the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Turnover for the sale of services is recognised when the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will be received by the company and the stage of completion at the balance sheet date can be measured reliably.

Turnover from the sale of goods is recognised when the risks and rewards of ownership have been transferred to the buyer. Revenue is stated after sales discounts and other sales taxes, and is net of VAT.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company’s cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.

MYSA Property Limited

Notes to the Financial Statements for the Year Ended 31 December 2019

Trade creditors

Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2018 - 0).

4

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Other creditors		18,640	18,760