REGISTERED NUMBER: 01072252 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MEGATECH LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

9

FIXED ASSETS

Intangible assets

4

287,541

260,988

Tangible assets

5

181,689

210,051

469,230

471,039

CURRENT ASSETS

Stocks

203,193

341,318

Debtors

6

1,910,630

1,603,818

Cash at bank and in hand

177,520

313,858

2,291,343

2,258,994

CREDITORS

Amounts falling due within one year

7

(1,055,763

)

(1,316,414

)

NET CURRENT ASSETS

1,235,580

942,580

TOTAL ASSETS LESS CURRENT LIABILITIES

1,704,810

1,413,619

PROVISIONS FOR LIABILITIES

(106,635

)

(86,602

)

NET ASSETS

1,598,175

1,327,017

CAPITAL AND RESERVES

Called up share capital

2

2

Capital redemption reserve

10,000

10,000

Retained earnings

1,588,173

1,317,015

1,598,175

1,327,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

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

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 10 December 2025 and were signed on its behalf by:

Q M Jones - Director

1.	STATUTORY INFORMATION

Megatech Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01072252

Registered office:

Littleton Drive

Huntington

Cannock

Staffordshire

WS12 4TS

The principal activity of the company during the year continued to be the marketing and servicing of high vacuum engineering products.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as described below.

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidence by disposals during current and prior accounting periods.

REVENUE RECOGNITION

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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% reducing balance

Fixtures and fittings

-

15% reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

33% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

RESEARCH AND DEVELOPMENT

Expenditure on research and development is written off in the year in which it is incurred.

FOREIGN CURRENCIES

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

DEFINED CONTRIBUTION PLANS

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

IMPAIRMENT OF FIXED ASSETS

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

EMPLOYEE BENEFITS

The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expense in the profit and loss account in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

294,447

Additions

104,190

At 31 March 2025

398,637

AMORTISATION

At 1 April 2024

33,459

Charge for year

77,637

At 31 March 2025

111,096

NET BOOK VALUE

At 31 March 2025

287,541

At 31 March 2024

260,988

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

73,055

55,550

216,354

164,976

509,935

Additions

1,848

6,945

31,999

-

40,792

Disposals

-

(2,537

)

(24,364

)

-

(26,901

)

At 31 March 2025

74,903

59,958

223,989

164,976

523,826

DEPRECIATION

At 1 April 2024

34,478

34,749

68,233

162,424

299,884

Charge for year

8,085

3,189

41,890

1,880

55,044

Eliminated on disposal

-

(1,846

)

(10,945

)

-

(12,791

)

At 31 March 2025

42,563

36,092

99,178

164,304

342,137

NET BOOK VALUE

At 31 March 2025

32,340

23,866

124,811

672

181,689

At 31 March 2024

38,577

20,801

148,121

2,552

210,051

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

627,033

718,057

Amounts owed by group undertakings

1,102,086

441,070

Other debtors

148,369

237,919

Directors' loan accounts

-

205,226

Prepayments

33,142

1,546

1,910,630

1,603,818

Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

69,549

479,417

Amounts owed to group undertakings

685,542

734,676

Tax

39,940

(70,362

)

Social security and other taxes

31,126

21,744

VAT

77,064

52,907

Other creditors

130,628

62,032

Accrued expenses

21,914

36,000

1,055,763

1,316,414

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

8.	CONTINGENT LIABILITIES

A guarantee of £10,000 (2024: £10,000) held with Lloyds TSB Bank Plc in relation to the VAT duty deferment guarantee under the SIVA scheme in favour of HM Customs and excise with the recourse to the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Q M Jones

Balance outstanding at start of year

102,452

87,408

Amounts advanced

151,127

102,544

Amounts repaid

(253,579

)

(87,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

102,452

A D Hasell

Balance outstanding at start of year

64,243

57,827

Amounts advanced

75,525

64,416

Amounts repaid

(139,768

)

(58,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

64,243

B T White

Balance outstanding at start of year

38,530

37,599

Amounts advanced

42,783

38,531

Amounts repaid

(81,313

)

(37,600

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

38,530

10.	POST BALANCE SHEET EVENTS

There are no significant events up to the date of approval of the financial statements by the board.

11.	ULTIMATE CONTROLLING PARTY

The parent company is Qatco Limited who owns all of the issued share capital of the company. Qatco Limited is incorporated in England and Wales.

The ultimate parent company is Semi-Sel Ltd, a company incorporated in England and Wales.

12.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The total future minimum lease payments under non-cancellable operating leases were £nil (2024: £601)