Registered number
12581087
MEGA BUILDING & CONSTRUCTION LTD
Filleted Accounts
30 April 2024
MEGA BUILDING & CONSTRUCTION LTD
Registered number: 12581087
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,902 9,398
Current assets
Stocks 186,925 205,250
Debtors 4 94,357 49,400
Cash at bank and in hand 3,157 8,001
284,439 262,651
Creditors: amounts falling due within one year 5 (292,486) (263,635)
Net current liabilities (8,047) (984)
Net assets 6,855 8,414
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,755 8,314
Shareholder's funds 6,855 8,414
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MEHMET ULUSOY
Director
Approved by the board on 16 July 2024
MEGA BUILDING & CONSTRUCTION LTD
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Vehicle over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 11,200 730 11,930
Additions 10,044 - 10,044
At 30 April 2024 21,244 730 21,974
Depreciation
At 1 May 2023 2,240 292 2,532
Charge for the year 4,248 292 4,540
At 30 April 2024 6,488 584 7,072
Net book value
At 30 April 2024 14,756 146 14,902
At 30 April 2023 8,960 438 9,398
4 Debtors 2024 2023
£ £
Trade debtors 65,359 43,400
Other debtors 28,998 6,000
94,357 49,400
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 124,309 48,708
Taxation and social security costs 117,920 41,168
Other creditors 50,257 173,759
292,486 263,635
6 Controlling party
Ultimate controlling party is Mr M Ulusoy as director and sole shareholder of the company throughout the current year and previous year.
7 Other information
MEGA BUILDING & CONSTRUCTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
389C HIGH ROAD
WOOD GREEN
LONDON
N22 8JA
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