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REGISTERED NUMBER: 05071397 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

M.E.G.A. BUILDING (UK) LTD

M.E.G.A. BUILDING (UK) LTD (REGISTERED NUMBER: 05071397)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M.E.G.A. BUILDING (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A G Margolis
E Margolis





SECRETARY: A G Margolis





REGISTERED OFFICE: 119A Clapton Common
London
E5 9AB





REGISTERED NUMBER: 05071397 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

M.E.G.A. BUILDING (UK) LTD (REGISTERED NUMBER: 05071397)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 37,740 47,159

CURRENT ASSETS
Stocks 6 121,000 155,000
Debtors 7 5,504 35,015
Cash at bank 33,596 8,722
160,100 198,737
CREDITORS
Amounts falling due within one year 8 (22,032 ) (62,817 )
NET CURRENT ASSETS 138,068 135,920
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,808

183,079

CREDITORS
Amounts falling due after more than one
year

9

(55,336

)

(67,795

)
NET ASSETS 120,472 115,284

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 120,470 115,282
SHAREHOLDERS' FUNDS 120,472 115,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

M.E.G.A. BUILDING (UK) LTD (REGISTERED NUMBER: 05071397)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved and authorized for issue by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:




A G Margolis - Director



E Margolis - Director


M.E.G.A. BUILDING (UK) LTD (REGISTERED NUMBER: 05071397)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

M.E.G.A. Building (UK) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

M.E.G.A. BUILDING (UK) LTD (REGISTERED NUMBER: 05071397)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 78,550 4,913 5,266 88,729
DEPRECIATION
At 1 April 2023 31,757 4,583 5,230 41,570
Charge for year 9,358 50 11 9,419
At 31 March 2024 41,115 4,633 5,241 50,989
NET BOOK VALUE
At 31 March 2024 37,435 280 25 37,740
At 31 March 2023 46,793 330 36 47,159

6. STOCKS
31.3.24 31.3.23
£    £   
Work-in-progress 121,000 155,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 5,504 35,015

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 376 4,724
Taxation and social security 8,956 43,748
Other creditors 12,700 14,345
22,032 62,817

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 20,618 27,518
Other creditors 34,718 40,277
55,336 67,795

Other creditors includes Bounceback loan of £34,718 [2023 - £40,277]. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

M.E.G.A. BUILDING (UK) LTD (REGISTERED NUMBER: 05071397)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Retained
earnings
£   

At 1 April 2023 115,282
Profit for the year 5,188
At 31 March 2024 120,470