REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st July 2024 |
for |
Megaweb Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st July 2024 |
for |
Megaweb Ltd |
Megaweb Ltd (Registered number: 04483939) |
Contents of the Financial Statements |
for the Year Ended 31st July 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Megaweb Ltd (Registered number: 04483939) |
Balance Sheet |
31st July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
The financial statements were approved by the director and authorised for issue on |
Megaweb Ltd (Registered number: 04483939) |
Notes to the Financial Statements |
for the Year Ended 31st July 2024 |
1. | COMPANY INFORMATION |
Megaweb Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: |
Fixtures and Fittings - 25% on cost |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss. |
Going concern |
Despite the fact that the company reports negative reserves at the balance sheet date, at the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Megaweb Ltd (Registered number: 04483939) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1st August 2023 |
and 31st July 2024 |
DEPRECIATION |
At 1st August 2023 |
and 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Directors' current accounts | 11,928 | 10,394 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st July 2024 and 31st July 2023: |
31.7.24 | 31.7.23 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The loan is repayable on demand and no interest was charged during the year. |
8. | CONTROL |
The ultimate controlling party is Dr S George by virtue of holding 70% of the shares. |