Registered number
11204936
MEGGA SERVICE LTD
Financial Statements for the
Year Ended
31 March 2024
MEGGA SERVICE LTD
Company Information
Director
P.Milligan
Accountants
RJT Accountancy Limited
4 Woodridge Avenue
Allesley Green
Coventry
CV5 7PN
Bankers
Lloyds Bank plc
Stratford
London
E15 1NG
Registered office
Union House
111 New Union street
Coventry
CV1 2NT
Registered number
11204936
MEGGA SERVICE LTD
Registered number: 11204936
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,560 3,840
Tangible assets 4 9 135
2,569 3,975
Current assets
Stocks 748 389
Debtors 5 11,781 10,383
Cash at bank and in hand 41,195 45,635
53,724 56,407
Creditors: amounts falling due within one year 6 (24,924) (27,080)
Net current assets 28,800 29,327
Total assets less current liabilities 31,369 33,302
Creditors: amounts falling due after more than one year 7 (8,642) (12,635)
Net assets 22,727 20,667
Capital and reserves
Called up share capital 100 100
Profit and loss account 22,627 20,567
Shareholder's funds 22,727 20,667
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The director's report and profit and loss account have not been delivered to the Registrar of Companies.
P.Milligan
Director
Approved by the board on 24 June 2024
MEGGA SERVICE LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102-Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 2 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Website
Cost
At 1 April 2023 6,400
At 31 March 2024 6,400
Amortisation
At 1 April 2023 2,560
Provided during the year 1,280
At 31 March 2024 3,840
Net book value
At 31 March 2024 2,560
At 31 March 2023 3,840
Website development is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Office Equipment
£
Cost
At 1 April 2023 1,443
At 31 March 2024 1,443
Depreciation
At 1 April 2023 1,308
Charge for the year 126
At 31 March 2024 1,434
Net book value
At 31 March 2024 9
At 31 March 2023 135
5 Debtors 2024 2023
£ £
Trade debtors 83 5,584
Other debtors 11,698 4,799
11,781 10,383
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,333 3,333
Trade creditors 9,608 17,171
Taxation and social security costs 1,054 3,143
Other creditors 10,929 3,433
24,924 27,080
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,642 12,635
8 Controlling party
The company is under the control of P.Milligan.
9 Other information
MEGGA SERVICE LTD is a private company limited by shares and incorporated in England. Its registered office is:
The Apex
111 New Union Street
Coventry
CV1 2NT
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