For the financial year ended 31 October 2025 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

Megaflatables Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Grange, Lordship Road, Writtle, Chelmsford, Essex, England, CM1 3WT.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

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.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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 bases:

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 profit or loss.

Stock comprises inflatable hire equipment held for rental to customers in the ordinary course of the company's business. The company maintains a detailed inventory of these assets and undertakes an annual review to identify additions, disposals and any items that are damaged, obsolete or no longer expected to generate future economic benefit. Stock is stated at cost less any appropriate provision for impairment. Where the recoverable amount of an item is considered to be lower than its carrying value, a write-down is recognised to reflect its estimated recoverable amount. The annual review is used to ensure that the value of stock reported in the financial statements remains appropriate.

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including debtors, creditors and bank balances. Basic short term financial assets are measured at the transaction price, less any impairment and basic short term financial liabilities are measured at the transaction price.

Other financial liabilities including loans, are also measured at transaction price since the difference between this basis and the amortised cost is not material.

The tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals are payable under operating leases and charged to the profit or loss on a straight line basis over the term of the relevant lease.

The average monthly number of persons (including directors) employed by the company during the year was:

At the balance sheet date £47,711 (2024: £5,272) was due to the company from the director. This amount has been included within other debtors. Interest is charged on this balance at the official rate of interest.

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 2024

Within one year             £64,162    £64,162

Between one and five years     £279,327    £343,489

Total                 £343,489    £407,651

The annual operating lease commitments shown above relate to company vehicles and rental of commercial units.

At the balance sheet date, the following amounts were owed by related parties, and included in debtors.

2025     2024

Megaflatables Projects Limited £20,500 £20,500     

Inflatables Limited     £16,000     £16,000

Total             £36,500     £36,500