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Registered number: 08116627
Meggaclean Limited
Unaudited Financial Statements
For The Year Ended 30 June 2023
C&H Associates T/AS Mobile Accountants
Chartered Management Accountants & Tax Practitioners
206 Turners Hill
Cheshunt
Waltham Cross
Hertfordshire
EN8 9DE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08116627
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,534 3,926
Tangible Assets 5 45,750 25,200
49,284 29,126
CURRENT ASSETS
Stocks 6 77,000 98,500
Debtors 7 365,651 266,159
Cash at bank and in hand 4,791 9,085
447,442 373,744
Creditors: Amounts Falling Due Within One Year 8 (338,123 ) (286,863 )
NET CURRENT ASSETS (LIABILITIES) 109,319 86,881
TOTAL ASSETS LESS CURRENT LIABILITIES 158,603 116,007
Creditors: Amounts Falling Due After More Than One Year 9 (77,535 ) (46,400 )
NET ASSETS 81,068 69,607
CAPITAL AND RESERVES
Called up share capital 11 35,100 35,100
Profit and Loss Account 45,968 34,507
SHAREHOLDERS' FUNDS 81,068 69,607
Page 1
Page 2
For the year ending 30 June 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.
On behalf of the board
Mr Henry Appiah
Director
29/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Meggaclean Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08116627 . The registered office is 206 Turners Hill, Cheshunt, Hertfordshire, EN8 9DE.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20
Motor Vehicles 20
Fixtures & Fittings 20
Computer Equipment 20
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 6)
10 6
Page 3
Page 4
4. Intangible Assets
Other
£
Cost
As at 1 July 2022 4,914
As at 30 June 2023 4,914
Amortisation
As at 1 July 2022 988
Provided during the period 392
As at 30 June 2023 1,380
Net Book Value
As at 30 June 2023 3,534
As at 1 July 2022 3,926
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2022 49,209 1,183 50,392
Additions 27,431 1,750 29,181
As at 30 June 2023 76,640 2,933 79,573
Depreciation
As at 1 July 2022 24,766 426 25,192
Provided during the period 8,130 501 8,631
As at 30 June 2023 32,896 927 33,823
Net Book Value
As at 30 June 2023 43,744 2,006 45,750
As at 1 July 2022 24,443 757 25,200
6. Stocks
2023 2022
£ £
Work in progress 77,000 98,500
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 151,514 52,771
Prepayments and accrued income 7,993 -
Other debtors 206,144 213,388
365,651 266,159
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 16,541 3,013
Bank loans and overdrafts 54,843 23,975
Other taxes and social security 73,172 66,112
VAT 47,628 44,704
Other creditors 40,983 44,667
Accruals and deferred income 3,147 1,224
Director's loan account 101,809 103,168
338,123 286,863
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 41,091 -
Bank loans 36,499 46,455
Corporation tax (55 ) (55 )
77,535 46,400
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 41,091 -
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 35,100 35,100
Page 5