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REGISTERED NUMBER: 01414091 (England and Wales)















Megadale Limited

Unaudited Financial Statements for the Year Ended 30 November 2023






Megadale Limited (Registered number: 01414091)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Megadale Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mrs J Pavitt



REGISTERED OFFICE: 1 High Street
Sheerness
Kent
ME12 1NY



BUSINESS ADDRESS: 26 High Street
Sheerness
Kent
ME12 1NL



REGISTERED NUMBER: 01414091 (England and Wales)



ACCOUNTANTS: Foreman Waller
Chartered Accountants
1 High Street
Sheerness
Kent
ME12 1NY



BANKERS: NatWest Bank
29 High Sreeet
Sheerness
Kent
ME12 1NY

Megadale Limited (Registered number: 01414091)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 974 1,302
974 1,302

CURRENT ASSETS
Debtors 6 13,138 11,549
Cash at bank and in hand 101,250 118,915
114,388 130,464
CREDITORS
Amounts falling due within one year 7 23,401 38,444
NET CURRENT ASSETS 90,987 92,020
TOTAL ASSETS LESS CURRENT LIABILITIES 91,961 93,322

CREDITORS
Amounts falling due after more than one
year

8

6,907

10,799
NET ASSETS 85,054 82,523

CAPITAL AND RESERVES
Called up share capital 9 5,503 5,503
Share premium 2,000 2,000
Retained earnings 77,551 75,020
SHAREHOLDERS' FUNDS 85,054 82,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Megadale Limited (Registered number: 01414091)

Statement of Financial Position - continued
30 November 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 July 2024 and were signed by:





Mrs J Pavitt - Director


Megadale Limited (Registered number: 01414091)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

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

The presentation 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.

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

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks and other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 by the statement of financial position date.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

Megadale Limited (Registered number: 01414091)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 41,248
AMORTISATION
At 1 December 2022
and 30 November 2023 41,248
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 9,851
DEPRECIATION
At 1 December 2022 8,549
Charge for year 328
At 30 November 2023 8,877
NET BOOK VALUE
At 30 November 2023 974
At 30 November 2022 1,302

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,169 11,139
Other debtors 969 410
13,138 11,549

Megadale Limited (Registered number: 01414091)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,960 3,960
Trade creditors 182 190
Taxation and social security 7,421 5,499
Other creditors 11,838 28,795
23,401 38,444

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 6,907 10,799

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,500 Ordinary A shares £1 5,500 5,500
1 Ordinary B share £1 1 1
1 Ordinary C share £1 1 1
1 Ordinary D share £1 1 1
5,503 5,503