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REGISTERED NUMBER: 07568216 (England and Wales)



















Unaudited Financial Statements

for the Period 1 April 2024 to 28 February 2025

for

Megisy Consulting Limited

Megisy Consulting Limited (Registered number: 07568216)

Contents of the Financial Statements
for the Period 1 April 2024 to 28 February 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Megisy Consulting Limited

Company Information
for the Period 1 April 2024 to 28 February 2025







DIRECTORS: J Butler
Mrs J A Butler





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





REGISTERED NUMBER: 07568216 (England and Wales)





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

Megisy Consulting Limited (Registered number: 07568216)

Balance Sheet
28 February 2025

28.2.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 28,068

CURRENT ASSETS
Debtors 5 429 69
Cash at bank - 519
429 588
CREDITORS
Amounts falling due within one year 6 25,561 26,525
NET CURRENT LIABILITIES (25,132 ) (25,937 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,132

)

2,131

CREDITORS
Amounts falling due after more than one
year

7

-

11,032
NET LIABILITIES (25,132 ) (8,901 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (25,134 ) (8,903 )
SHAREHOLDERS' FUNDS (25,132 ) (8,901 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2025 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.

Megisy Consulting Limited (Registered number: 07568216)

Balance Sheet - continued
28 February 2025


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 Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:





J Butler - Director


Megisy Consulting Limited (Registered number: 07568216)

Notes to the Financial Statements
for the Period 1 April 2024 to 28 February 2025


1. STATUTORY INFORMATION

Megisy Consulting 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.

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
The company has ceased trading and is no longer a going concern.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed. Where amounts are received in advance the recognition is deferred until such a time that the above conditions have been met.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Grant income is recognised when the right to receive payment is established.

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 cost and 25% on reducing balance

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Megisy Consulting Limited (Registered number: 07568216)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 28 February 2025


2. ACCOUNTING POLICIES - continued

Impairment of assets
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately 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.

Taxation
Taxation for the period 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Megisy Consulting Limited (Registered number: 07568216)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 28 February 2025


2. ACCOUNTING POLICIES - continued

Provision for liabilities
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the group 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.

Dividends
Dividends are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 37,544
Additions 790
Disposals (38,334 )
At 28 February 2025 -
DEPRECIATION
At 1 April 2024 9,476
Charge for period 6,515
Eliminated on disposal (15,991 )
At 28 February 2025 -
NET BOOK VALUE
At 28 February 2025 -
At 31 March 2024 28,068

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 31.3.24
£    £   
Other debtors 429 69

Megisy Consulting Limited (Registered number: 07568216)

Notes to the Financial Statements - continued
for the Period 1 April 2024 to 28 February 2025


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 31.3.24
£    £   
Bank loans and overdrafts - 1,976
Trade creditors - 115
Other creditors 25,561 24,434
25,561 26,525

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.25 31.3.24
£    £   
Bank loans - 11,032

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,617

8. RELATED PARTY DISCLOSURES

As at the balance sheet date £25,145 (2024: £21,882) was owing to key management personnel and included in creditors falling due within one year. The loans were interest free and repayable on demand.