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REGISTERED NUMBER: 13631157 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Megisy Investments Limited

Megisy Investments Limited (Registered number: 13631157)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Megisy Investments Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: J Butler





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: 13631157 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Megisy Investments Limited (Registered number: 13631157)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,847 5,486
Investment property 5 1,180,000 650,000
1,191,847 655,486

CURRENT ASSETS
Debtors 6 2,928 1,950
Cash at bank 13,752 2,026
16,680 3,976
CREDITORS
Amounts falling due within one year 7 736,403 301,869
NET CURRENT LIABILITIES (719,723 ) (297,893 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

472,124

357,593

CREDITORS
Amounts falling due after more than one
year

8

413,076

413,079
NET ASSETS/(LIABILITIES) 59,048 (55,486 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 59,047 (55,487 )
59,048 (55,486 )

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

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

The director acknowledges his 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.

Megisy Investments Limited (Registered number: 13631157)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





J Butler - Director


Megisy Investments Limited (Registered number: 13631157)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Megisy Investments 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 as modified by the revaluation of certain assets.

The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
Current liabilities exceed current assets, however, after reviewing the company's forecasts and projections, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is rental income which is recognised on an accruals basis in accordance with the substance of the relevant agreement net of VAT.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Government grants are recognised on an accruals basis in accordance with the substance of the relevant agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


Megisy Investments Limited (Registered number: 13631157)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued
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 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.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

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

Megisy Investments Limited (Registered number: 13631157)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 8,480
Additions 10,311
At 30 September 2024 18,791
DEPRECIATION
At 1 October 2023 2,994
Charge for year 3,950
At 30 September 2024 6,944
NET BOOK VALUE
At 30 September 2024 11,847
At 30 September 2023 5,486

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 650,000
Additions 416,008
Revaluations 113,992
At 30 September 2024 1,180,000
NET BOOK VALUE
At 30 September 2024 1,180,000
At 30 September 2023 650,000

Investment property is disclosed at fair value as measured by the directors.

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2022 87,800
Valuation in 2023 (74,629 )
Valuation in 2024 113,992
Cost 1,052,837
1,180,000

Megisy Investments Limited (Registered number: 13631157)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 2,928 1,950

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 2,744 12,974
Taxation and social security 1,093 1,537
Other creditors 732,566 287,358
736,403 301,869

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 413,076 413,079

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 413,076 413,079

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Mortgages 413,076 413,079

The mortgages are secured by a first fixed charge over the assets acquired.

10. RELATED PARTY DISCLOSURES

At the balance sheet date £730,466 (2023: £285,458) was owed to key management personnel and included in creditors falling due within one year. The loan is interest free and repayable on demand.