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REGISTERED NUMBER: 06055128 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MEGOSH LIMITED

MEGOSH LIMITED (REGISTERED NUMBER: 06055128)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEGOSH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs C Hart
P J Hart





SECRETARY: P J Hart





REGISTERED OFFICE: Lothing House
Quay View Business Park
Barnards Way
Lowestoft
Suffolk
NR32 2HD





REGISTERED NUMBER: 06055128 (England and Wales)





ACCOUNTANTS: Juler Tooke
Lothing House
Quay View Business Park
Barnards Way
Lowestoft
Suffolk
NR32 2HD

MEGOSH LIMITED (REGISTERED NUMBER: 06055128)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 12,400 16,536
Tangible assets 5 10,101 11,774
22,501 28,310

CURRENT ASSETS
Stocks 43,174 44,372
Debtors 6 4,613 4,551
Cash at bank 9,806 5,724
57,593 54,647
CREDITORS
Amounts falling due within one year 7 (37,124 ) (32,095 )
NET CURRENT ASSETS 20,469 22,552
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,970

50,862

CREDITORS
Amounts falling due after more than one
year

8

(27,272

)

(35,785

)

PROVISIONS FOR LIABILITIES (1,323 ) (937 )
NET ASSETS 14,375 14,140

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 14,275 14,040
SHAREHOLDERS' FUNDS 14,375 14,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MEGOSH LIMITED (REGISTERED NUMBER: 06055128)

BALANCE SHEET - continued
30 APRIL 2024


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 Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





P J Hart - Director


MEGOSH LIMITED (REGISTERED NUMBER: 06055128)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Megosh 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.

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 2007, is being amortised evenly over its estimated useful life of twenty 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.
Land and buildings - at varying rates on cost
Plant and machinery etc - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MEGOSH LIMITED (REGISTERED NUMBER: 06055128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 82,712
AMORTISATION
At 1 May 2023 66,176
Charge for year 4,136
At 30 April 2024 70,312
NET BOOK VALUE
At 30 April 2024 12,400
At 30 April 2023 16,536

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 28,793 28,364 57,157
Additions - 648 648
At 30 April 2024 28,793 29,012 57,805
DEPRECIATION
At 1 May 2023 22,247 23,136 45,383
Charge for year 1,440 881 2,321
At 30 April 2024 23,687 24,017 47,704
NET BOOK VALUE
At 30 April 2024 5,106 4,995 10,101
At 30 April 2023 6,546 5,228 11,774

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 2,529 2,467
Other debtors 2,084 2,084
4,613 4,551

MEGOSH LIMITED (REGISTERED NUMBER: 06055128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 5,038 4,346
Taxation and social security 14,041 11,780
Other creditors 18,045 15,969
37,124 32,095

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Other creditors 27,272 35,785

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 27,272 35,785

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 May 2023 14,040
Profit for the year 40,235
Dividends (40,000 )
At 30 April 2024 14,275

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A loan of £113,921 was made to the company by it's directors on commencement of business and is being repaid over a period of twenty years with interest being charged at 6.25%pa.

12. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr P Hart and Mrs C Hart as holders of the share capital throughout the
current and previous year.
The company operates a Loan account with the Directors and the balance as at 30 April 2024 was £18,045 (30 April 2022 was £15,969).