Company Registration No. 10788930 (England and Wales)
MEGANOVA INVESTMENTS LIMITED
Unaudited accounts
for the year ended 31 May 2024
MEGANOVA INVESTMENTS LIMITED
Unaudited accounts
Contents
MEGANOVA INVESTMENTS LIMITED
Company Information
for the year ended 31 May 2024
Directors
Frank Cibej
Mirella Wendy Vivas Blossiers
Company Number
10788930 (England and Wales)
Registered Office
18 MARTINI DRIVE
ENFIELD
EN3 6GW
UNITED KINGDOM
Accountants
ML Accounting Services
39 The Chase
Chatham
Kent
ME4 6UP
MEGANOVA INVESTMENTS LIMITED
Statement of financial position
as at 31 May 2024
Tangible assets
1,222,045
751,867
Cash at bank and in hand
1,618
-
Creditors: amounts falling due within one year
(13,434)
(5,499)
Net current liabilities
(10,431)
(5,499)
Total assets less current liabilities
1,211,614
746,368
Creditors: amounts falling due after more than one year
(732,944)
(505,712)
Provisions for liabilities
Deferred tax
(115,000)
(43,813)
Net assets
363,670
196,843
Called up share capital
10
10
Revaluation reserve
528,604
280,123
Profit and loss account
(164,944)
(83,290)
Shareholders' funds
363,670
196,843
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by
Frank Cibej
Director
Company Registration No. 10788930
MEGANOVA INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 31 May 2024
MEGANOVA INVESTMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10788930. The registered office is 18 MARTINI DRIVE, ENFIELD, EN3 6GW, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Revaluation of land and buildings has not been not done by independent professional.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
10% straight line
Computer equipment
10% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
MEGANOVA INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At 1 June 2023
799,527
-
2,232
801,759
Additions
231,507
10,548
1,009
243,064
Revaluations
248,481
-
-
248,481
At 31 May 2024
1,279,515
10,548
3,241
1,293,304
At 1 June 2023
49,527
-
365
49,892
Charge for the year
15,018
1,055
324
16,397
Surplus on revaluation
4,970
-
-
4,970
At 31 May 2024
69,515
1,055
689
71,259
At 31 May 2024
1,210,000
9,493
2,552
1,222,045
At 31 May 2023
750,000
-
1,867
751,867
Amounts falling due within one year
Accrued income and prepayments
1,385
-
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
11,271
4,846
Obligations under finance leases and hire purchase contracts
1,510
-
Taxes and social security
53
53
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
386,322
225,862
Obligations under finance leases and hire purchase contracts
5,661
-
Loans from directors
340,961
279,850
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).