Mega 2000 Limited 01371730 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is letting of own property. Digita Accounts Production Advanced 6.30.9574.0 true 01371730 2022-04-01 2023-03-31 01371730 2023-03-31 01371730 core:CurrentFinancialInstruments 2023-03-31 01371730 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01371730 core:FurnitureFittingsToolsEquipment 2023-03-31 01371730 bus:SmallEntities 2022-04-01 2023-03-31 01371730 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 01371730 bus:FullAccounts 2022-04-01 2023-03-31 01371730 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01371730 bus:RegisteredOffice 2022-04-01 2023-03-31 01371730 bus:Director1 2022-04-01 2023-03-31 01371730 bus:Director5 2022-04-01 2023-03-31 01371730 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01371730 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 01371730 countries:EnglandWales 2022-04-01 2023-03-31 01371730 2022-03-31 01371730 core:FurnitureFittingsToolsEquipment 2022-03-31 01371730 2021-04-01 2022-03-31 01371730 2022-03-31 01371730 core:CurrentFinancialInstruments 2022-03-31 01371730 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 01371730 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 01371730

Mega 2000 Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Mega 2000 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Mega 2000 Limited

Company Information

Directors

Miss S A Cawkwell

Mr M P Cawkwell

Registered office

7 Northfield Close
South Cave
East Yorkshire
HU15 2EW

 

Mega 2000 Limited

(Registration number: 01371730)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,544

1,817

Investment property

6

154,455

154,455

 

155,999

156,272

Current assets

 

Debtors

7

42,965

43,912

Cash at bank and in hand

 

8,183

3,109

 

51,148

47,021

Creditors: Amounts falling due within one year

8

(85,190)

(83,221)

Net current liabilities

 

(34,042)

(36,200)

Net assets

 

121,957

120,072

Capital and reserves

 

Called up share capital

40,000

40,000

Retained earnings

81,957

80,072

Shareholders' funds

 

121,957

120,072

For the financial year ending 31 March 2023 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.

Approved and authorised by the Board on 14 November 2023 and signed on its behalf by:
 

.........................................
Mr M P Cawkwell
Director

 

Mega 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Northfield Close
South Cave
East Yorkshire
HU15 2EW

These financial statements were authorised for issue by the Board on 14 November 2023.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% written down value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Mega 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

273

321

 

Mega 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

2,163

2,163

At 31 March 2023

2,163

2,163

Depreciation

At 1 April 2022

346

346

Charge for the year

273

273

At 31 March 2023

619

619

Carrying amount

At 31 March 2023

1,544

1,544

At 31 March 2022

1,817

1,817

6

Investment properties

2023
£

At 1 April

154,455

At 31 March

154,455

There has been no valuation of investment property by an independent valuer.

7

Debtors

2023
£

2022
£

Prepayments

50

50

Other debtors

42,915

43,862

42,965

43,912

 

Mega 2000 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,887

1,917

Other creditors

83,303

81,304

85,190

83,221