1 December 2023 false No description of principal activity Taxfiler 2024.6 10480408business:PrivateLimitedCompanyLtd2023-12-012024-11-30 104804082023-11-30 104804082023-12-012024-11-30 10480408business:AuditExempt-NoAccountantsReport2023-12-012024-11-30 10480408business:FilletedAccounts2023-12-012024-11-30 104804082024-11-30 10480408business:Director12023-12-012024-11-30 10480408business:RegisteredOffice2023-12-012024-11-30 104804082023-11-30 10480408core:WithinOneYear2024-11-30 10480408core:WithinOneYear2023-11-30 10480408core:AfterOneYear2024-11-30 10480408core:AfterOneYear2023-11-30 10480408core:ShareCapitalcore:PreviouslyStatedAmount2024-11-30 10480408core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 10480408core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-11-30 10480408core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 10480408core:PreviouslyStatedAmount2024-11-30 10480408core:PreviouslyStatedAmount2023-11-30 10480408business:SmallEntities2023-12-012024-11-30 10480408countries:EnglandWales2023-12-012024-11-30 10480408core:FurnitureFittings2023-12-012024-11-30 10480408core:FurnitureFittings2023-11-30 10480408core:FurnitureFittings2024-11-30 104804082022-12-012023-11-30 iso4217:GBP xbrli:pure
Company Registration No. 10480408 (England and Wales)
MEGA PROPERTY LIMITED Unaudited accounts for the year ended 30 November 2024
MEGA PROPERTY LIMITED Unaudited accounts Contents
Page
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MEGA PROPERTY LIMITED Company Information for the year ended 30 November 2024
Director
Martin Mwaka
Company Number
10480408 (England and Wales)
Registered Office
17 LADYWELL HEIGHTS CROFTON PARK ROAD LONDON SE4 1AU UNITED KINGDOM
Accountants
Taxez 5 South Charlotte Street Edinburgh EH2 4AN
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MEGA PROPERTY LIMITED Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
635 
845 
Investment property
358,019 
358,019 
358,654 
358,864 
Current assets
Debtors
35,936 
35,936 
Cash at bank and in hand
10,892 
3,519 
46,828 
39,455 
Creditors: amounts falling due within one year
(118,406)
(160,697)
Net current liabilities
(71,578)
(121,242)
Total assets less current liabilities
287,076 
237,622 
Creditors: amounts falling due after more than one year
(316,831)
(256,837)
Net liabilities
(29,755)
(19,215)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(29,756)
(19,216)
Shareholders' funds
(29,755)
(19,215)
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 February 2025 and were signed on its behalf by
Martin Mwaka Director Company Registration No. 10480408
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MEGA PROPERTY LIMITED Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
MEGA PROPERTY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10480408. The registered office is 17 LADYWELL HEIGHTS, CROFTON PARK ROAD, LONDON, SE4 1AU, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 includes revenue earned from property rental and is recognised when receivable from the tenant.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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MEGA PROPERTY LIMITED Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 December 2023
3,054 
At 30 November 2024
3,054 
Depreciation
At 1 December 2023
2,209 
Charge for the year
210 
At 30 November 2024
2,419 
Net book value
At 30 November 2024
635 
At 30 November 2023
845 
5
Investment property
2024 
£ 
Fair value at 1 December 2023
358,019 
At 30 November 2024
358,019 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
35,936 
35,936 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
118,047 
160,338 
Accruals
359 
359 
118,406 
160,697 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
316,831 
256,837 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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