Megahart Limited - Limited company - abbreviated

REGISTERED NUMBER: 01824319 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1 July 2013 to 30 September 2014

for

Megahart Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J W Balls

M Balls

REGISTERED OFFICE:

Buckingham House East

Buckingham Parade

Stanmore

Middlesex

HA7 4EB

REGISTERED NUMBER:

01824319 (England and Wales)

ACCOUNTANTS:

K Shah & Co

Chartered Certified Accountants

Buckingham House East

Buckingham Parade

Stanmore

Middlesex

HA7 4EB

FIXED ASSETS

Tangible assets

2

3

CURRENT ASSETS

Stocks

3,280,500

3,281,000

Debtors

89

2,294

Cash at bank

2,037,488

1,949,872

5,318,077

5,233,166

CREDITORS

Amounts falling due within one year

24,488

10,926

NET CURRENT ASSETS

5,293,589

5,222,240

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,293,592

5,222,243

CAPITAL AND RESERVES

Called up share capital

3

12,050

Profit and loss account

5,281,542

5,210,193

SHAREHOLDERS' FUNDS

5,293,592

5,222,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 July 2015 and were signed on its behalf by:

J W Balls - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - 25% of cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax is accounted for at expected tax rates on all differences arising from the inclusion of items of

income and expenditure in taxation computations in periods different from those in which they are included in

the financial statements. A deferred tax asset is only recognised when it is more likely than not that the asset will

be recoverable in the foreseeable future out of suitable taxable profits from which the underlying timing

differences can be deducted.

Joint ventures

Where the company is in a party in an unincorporated joint venture, the asset is included in stocks at its full cost,

attributed to the company. The company's share of income and expenditure are included in the profit and loss

account.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 September 2014

64,319

DEPRECIATION

At 1 July 2013

and 30 September 2014

64,316

NET BOOK VALUE

At 30 September 2014

3

At 30 June 2013

3

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.14

30.6.13

value:

£

12,000

'A' Ordinary Shares

£1

12,000

50

'B' Ordinary Shares

£1

50

12,050

Both classes of shares rank equally except that the 'A' shares do not confer any right to vote at General Meetings.

4.	POST BALANCE SHEET EVENTS

Subsequent to the year end, on 24 October 2014 a reorganisation of the company was carried out pursuant to

Section 110 Insolvency Act 1986.

Megahart Limited - Limited company - abbreviated - 11.6

Megahart Limited - Limited company - abbreviated - 11.6