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REGISTERED NUMBER: 11028377 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

MEG JAYANTH LTD

MEG JAYANTH LTD (REGISTERED NUMBER: 11028377)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEG JAYANTH LTD

Company Information
for the year ended 31 October 2023







DIRECTOR: M Jayanth





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 11028377 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

MEG JAYANTH LTD (REGISTERED NUMBER: 11028377)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,008 458

CURRENT ASSETS
Debtors 5 50,911 19,151
Cash at bank 39,363 30,931
90,274 50,082
CREDITORS
Amounts falling due within one year 6 (23,838 ) (14,714 )
NET CURRENT ASSETS 66,436 35,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,444

35,826

PROVISIONS FOR LIABILITIES 7 (1,102 ) (86 )
NET ASSETS 70,342 35,740

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 70,341 35,739
SHAREHOLDERS' FUNDS 70,342 35,740

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.

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

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 and authorised for issue on 12 August 2024 and were signed by:



M Jayanth - Director


MEG JAYANTH LTD (REGISTERED NUMBER: 11028377)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Meg Jayanth Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company Information page.

The presentational currency of the financial statements is the Pound Sterling (£).

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 represents the fair value of consideration received or receivable net of VAT and trade discounts.
Revenue from sales and royalties are recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment-33% on cost

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The director has a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

MEG JAYANTH LTD (REGISTERED NUMBER: 11028377)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 November 2022 4,693
Additions 5,446
At 31 October 2023 10,139
DEPRECIATION
At 1 November 2022 4,235
Charge for year 896
At 31 October 2023 5,131
NET BOOK VALUE
At 31 October 2023 5,008
At 31 October 2022 458

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 475
Directors' current accounts 44,911 18,326
Prepayments & accrued income 6,000 350
50,911 19,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 22,963 13,864
Other creditors 875 850
23,838 14,714

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,102 86

MEG JAYANTH LTD (REGISTERED NUMBER: 11028377)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2022 86
Provided during year 1,016
Balance at 31 October 2023 1,102

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1

9. RESERVES
Retained
earnings
£   

At 1 November 2022 35,739
Profit for the year 63,652
Dividends (29,050 )
At 31 October 2023 70,341

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
M Jayanth
Balance outstanding at start of year 18,326 3,537
Amounts advanced 58,881 21,298
Amounts repaid (32,296 ) (6,509 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,911 18,326

Director's loan is repayable on demand. Interest has been charged at 2% when the loan balance exceeds £10,000.