Silverfin false false 30/09/2024 01/10/2023 30/09/2024 C N Leonard 14/08/2003 A Milburn 01/06/2023 V L Rapson 20/01/2020 28 February 2025 The principal activity of the company during the year was that of the provision of permanent and temporary staff. 04867377 2024-09-30 04867377 bus:Director1 2024-09-30 04867377 bus:Director2 2024-09-30 04867377 bus:Director3 2024-09-30 04867377 2023-09-30 04867377 core:CurrentFinancialInstruments 2024-09-30 04867377 core:CurrentFinancialInstruments 2023-09-30 04867377 core:Non-currentFinancialInstruments 2024-09-30 04867377 core:Non-currentFinancialInstruments 2023-09-30 04867377 core:ShareCapital 2024-09-30 04867377 core:ShareCapital 2023-09-30 04867377 core:RetainedEarningsAccumulatedLosses 2024-09-30 04867377 core:RetainedEarningsAccumulatedLosses 2023-09-30 04867377 core:LeaseholdImprovements 2023-09-30 04867377 core:Vehicles 2023-09-30 04867377 core:OfficeEquipment 2023-09-30 04867377 core:ComputerEquipment 2023-09-30 04867377 core:LeaseholdImprovements 2024-09-30 04867377 core:Vehicles 2024-09-30 04867377 core:OfficeEquipment 2024-09-30 04867377 core:ComputerEquipment 2024-09-30 04867377 bus:OrdinaryShareClass1 2024-09-30 04867377 bus:OrdinaryShareClass2 2024-09-30 04867377 2023-10-01 2024-09-30 04867377 bus:FilletedAccounts 2023-10-01 2024-09-30 04867377 bus:SmallEntities 2023-10-01 2024-09-30 04867377 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 04867377 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04867377 bus:Director1 2023-10-01 2024-09-30 04867377 bus:Director2 2023-10-01 2024-09-30 04867377 bus:Director3 2023-10-01 2024-09-30 04867377 core:LeaseholdImprovements core:BottomRangeValue 2023-10-01 2024-09-30 04867377 core:LeaseholdImprovements core:TopRangeValue 2023-10-01 2024-09-30 04867377 core:Vehicles core:BottomRangeValue 2023-10-01 2024-09-30 04867377 core:Vehicles core:TopRangeValue 2023-10-01 2024-09-30 04867377 core:OfficeEquipment core:BottomRangeValue 2023-10-01 2024-09-30 04867377 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 04867377 core:ComputerEquipment core:BottomRangeValue 2023-10-01 2024-09-30 04867377 core:ComputerEquipment core:TopRangeValue 2023-10-01 2024-09-30 04867377 2022-10-01 2023-09-30 04867377 core:LeaseholdImprovements 2023-10-01 2024-09-30 04867377 core:Vehicles 2023-10-01 2024-09-30 04867377 core:OfficeEquipment 2023-10-01 2024-09-30 04867377 core:ComputerEquipment 2023-10-01 2024-09-30 04867377 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 04867377 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 04867377 bus:OrdinaryShareClass2 2023-10-01 2024-09-30 04867377 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04867377 (England and Wales)

MEGO EMPLOYMENT LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

MEGO EMPLOYMENT LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

MEGO EMPLOYMENT LIMITED

BALANCE SHEET

As at 30 September 2024
MEGO EMPLOYMENT LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 158,590 172,172
158,590 172,172
Current assets
Debtors 4 1,826,958 1,834,403
Cash at bank and in hand 47,359 44,632
1,874,317 1,879,035
Creditors: amounts falling due within one year 5 ( 1,702,998) ( 1,750,423)
Net current assets 171,319 128,612
Total assets less current liabilities 329,909 300,784
Creditors: amounts falling due after more than one year 6 ( 115,585) ( 147,029)
Provision for liabilities ( 7,345) ( 9,724)
Net assets 206,979 144,031
Capital and reserves
Called-up share capital 7 82 82
Profit and loss account 206,897 143,949
Total shareholder's funds 206,979 144,031

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Mego Employment Limited (registered number: 04867377) were approved and authorised for issue by the Board of Directors on 28 February 2025. They were signed on its behalf by:

C N Leonard
Director
MEGO EMPLOYMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
MEGO EMPLOYMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mego Employment Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is Discovery House, Steamer Quay Road, Totnes, TQ9 5AL.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 5 - 10 years straight line
Vehicles 3 - 4 years straight line
Office equipment 4 - 10 years straight line
Computer equipment 3 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

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 that 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 10

3. Tangible assets

Leasehold improve-
ments
Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 October 2023 8,417 178,176 60,520 137,447 384,560
Additions 0 44,949 3,255 8,336 56,540
Disposals 0 ( 35,470) 0 0 ( 35,470)
At 30 September 2024 8,417 187,655 63,775 145,783 405,630
Accumulated depreciation
At 01 October 2023 5,956 31,297 53,480 121,655 212,388
Charge for the financial year 259 32,103 3,231 7,163 42,756
Disposals 0 ( 8,104) 0 0 ( 8,104)
At 30 September 2024 6,215 55,296 56,711 128,818 247,040
Net book value
At 30 September 2024 2,202 132,359 7,064 16,965 158,590
At 30 September 2023 2,461 146,879 7,040 15,792 172,172

4. Debtors

2024 2023
£ £
Trade debtors 1,190,464 1,152,224
Amounts owed by Group undertakings 341,377 298,047
Other debtors 295,117 384,132
1,826,958 1,834,403

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 15,000 69,445
Trade creditors 27,401 32,759
Taxation and social security 466,650 420,483
Obligations under finance leases and hire purchase contracts 38,552 26,304
Other creditors 1,155,395 1,201,432
1,702,998 1,750,423

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 28,333 38,333
Obligations under finance leases and hire purchase contracts 87,252 108,696
115,585 147,029

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
41 A Ordinary shares of £ 1.00 each 41 41
41 B Ordinary shares of £ 1.00 each 41 41
82 82

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
At 1 October 2023 181,390 24,407
Advances to director 32,975 185,233
Repayments by director (181,500) (28,250)
At 30 September 2024 32,865 181,390