Abbreviated Company Accounts - MEGA ASSOCIATES LIMITED

MEGA ASSOCIATES LIMITED - Company Information

02778172 MEGA ASSOCIATES LIMITED 2015-09-30 false 2014-10-01 2015-09-30 true 02778172 2014-10-01 2015-09-30 02778172 2015-09-30 02778172 2014-09-30 02778172 uk-gaap-cd-bus:Director1 2014-10-01 2015-09-30 02778172 uk-gaap-cd-bus:Director2 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-01 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-09-30 iso4217:GBP shares

Registered Number 02778172

MEGA ASSOCIATES LIMITED

Abbreviated Accounts

30 September 2015

MEGA ASSOCIATES LIMITED Registered Number 02778172

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	17,962	19,876
		17,962	19,876
Current assets
Debtors		16,706	5,380
Cash at bank and in hand		29,270	23,551
		45,976	28,931
Creditors: amounts falling due within one year		(24,855)	(18,479)
Net current assets (liabilities)		21,121	10,452
Total assets less current liabilities		39,083	30,328
Provisions for liabilities		(615)	(778)
Total net assets (liabilities)		38,468	29,550
Capital and reserves
Called up share capital	3	50	50
Profit and loss account		38,418	29,500
Shareholders' funds		38,468	29,550

For the year ending 30 September 2015 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 18 January 2016

And signed on their behalf by:
M Flash, Director

MEGA ASSOCIATES LIMITED Registered Number 02778172

Notes to the Abbreviated Accounts for the period ended 30 September 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to
customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their
estimated useful lives.
Plant and machinery: 20% on reducing balance
Leasehold Improvements: Over life of lease

Other accounting policies
Stocks
Stock and work in progress are valued at the lower of cost, with the addition of appropriate

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the
recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred
taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the
periods when the timing differences will reverse.

Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the rate of
exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 October 2014	76,170
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	76,170
Depreciation
At 1 October 2014	56,294
Charge for the year	1,914
On disposals	-
At 30 September 2015	58,208
Net book values
At 30 September 2015	17,962
At 30 September 2014	19,876

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
50 Ordinary shares of £1 each	50	50