Megatrack Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05792437 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018

FOR

MEGATRACK LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K A Smith

REGISTERED OFFICE:

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

REGISTERED NUMBER:

05792437 (England and Wales)

ACCOUNTANTS:

Wyatt, Morris, Golland Ltd

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

FIXED ASSETS

Tangible assets

3

-

Investment property

4

775,021

CURRENT ASSETS

Debtors

5,307

3,380

Cash at bank

2,176

4,300

7,483

7,680

CREDITORS

Amounts falling due within one year

190,180

189,305

NET CURRENT LIABILITIES

(182,697

)

(181,625

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

592,324

593,396

CREDITORS

Amounts falling due after more than one
year

5

474,424

479,871

NET ASSETS

117,900

113,525

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

117,899

113,524

SHAREHOLDERS' FUNDS

117,900

113,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2018 in accordance with Section 476 of the Companies Act 2006.

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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the period ended 30 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 director on 26 November 2019 and were signed by:

K A Smith - Director

1.	STATUTORY INFORMATION

Megatrack 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 etc

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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 period 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.

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

and 30 December 2018

17,081

DEPRECIATION

At 1 January 2018

and 30 December 2018

17,081

NET BOOK VALUE

At 30 December 2018

-

At 31 December 2017

-

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

and 30 December 2018

775,021

NET BOOK VALUE

At 30 December 2018

775,021

At 31 December 2017

775,021

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

2018

2017

£

Repayable by instalments

Bank loans more 5 yr by instal

452,557

458,004

6.	RELATED PARTY DISCLOSURES

During the period, total dividends of £4,500 were paid to the director .

Mr K A Smith is a director of Smith Meehan Limited. Included within other creditors at the year end is a balance

of £131,816 due to Smith Meehan Limited.

Included in debtors is £3,055 due from Slackcote Hall Management Company Limited, a company in which the

director has an interest and £923 due from Enviroil Limited, a company controlled by the director.

Megatrack Ltd - Accounts to registrar (filleted) - small 18.2

Megatrack Ltd - Accounts to registrar (filleted) - small 18.2