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REGISTERED NUMBER: SC644164 (Scotland)















Megan Spears Ltd

Unaudited Financial Statements for the Year Ended 31 October 2023






Megan Spears Ltd (Registered number: SC644164)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Megan Spears Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Ms M Spears





REGISTERED OFFICE: Broomfield House
Daviot
Inverness
IV2 5ER





REGISTERED NUMBER: SC644164 (Scotland)





ACCOUNTANTS: Marshall Accountancy Ltd
St Mary's House
Crewe Road
Alsager
Stoke-On-Trent
ST7 2EW

Megan Spears Ltd (Registered number: SC644164)

Abridged Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,000 6,000
Tangible assets 5 600 706
2,600 6,706

CURRENT ASSETS
Debtors 1,440 6,712
Cash at bank 173 7,717
1,613 14,429
CREDITORS
Amounts falling due within one year (3,859 ) (6,259 )
NET CURRENT (LIABILITIES)/ASSETS (2,246 ) 8,170
TOTAL ASSETS LESS CURRENT
LIABILITIES

354

14,876

PROVISIONS FOR LIABILITIES (326 ) (383 )
NET ASSETS 28 14,493

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (72 ) 14,393
SHAREHOLDERS' FUNDS 28 14,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Megan Spears Ltd (Registered number: SC644164)

Abridged Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Profit and Loss and an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 July 2024 and were signed by:





Ms M Spears - Director


Megan Spears Ltd (Registered number: SC644164)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Megan Spears Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Megan Spears Ltd (Registered number: SC644164)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022
and 31 October 2023 10,000
AMORTISATION
At 1 November 2022 4,000
Amortisation for year 4,000
At 31 October 2023 8,000
NET BOOK VALUE

At 31 October 2023 2,000
At 31 October 2022 6,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022
and 31 October 2023 2,980
DEPRECIATION
At 1 November 2022 2,274
Charge for year 106
At 31 October 2023 2,380
NET BOOK VALUE
At 31 October 2023 600
At 31 October 2022 706

6. RELATED PARTY DISCLOSURES

2023 2022
£ £

Directors' loan account
Balance brought forward 5,872 22,103
(Capital Introduced)/Drawings (8,292 ) (12,231 )
Dividends - (4,000 )
Balance carried forward (2,420 ) 5,872