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

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

MEGATRACK LTD - Company Information

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REGISTERED NUMBER: 05792437 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

MEGATRACK LTD
MEGATRACK LTD (REGISTERED NUMBER: 05792437)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MEGATRACK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017







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
Page 1
MEGATRACK LTD (REGISTERED NUMBER: 05792437)

ABRIDGED BALANCE SHEET
31 DECEMBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 - -
Investment property 4 775,021 775,021
775,021 775,021

CURRENT ASSETS
Debtors 3,380 6,656
Cash at bank 4,300 1,354
7,680 8,010
CREDITORS
Amounts falling due within one year 189,305 198,351
NET CURRENT LIABILITIES (181,625 ) (190,341 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
593,396
584,680

CREDITORS
Amounts falling due after more than one
year
5
479,871
485,425
NET ASSETS 113,525 99,255

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 113,524 99,254
SHAREHOLDERS' FUNDS 113,525 99,255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 notes form part of these financial statements

Page 2 continued...
MEGATRACK LTD (REGISTERED NUMBER: 05792437)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 September 2018 and were signed by:





K A Smith - Director


The notes form part of these financial statements

Page 3
MEGATRACK LTD (REGISTERED NUMBER: 05792437)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 stated at cost which the director believes reflects the market value of the property.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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 2017
and 31 December 2017 17,081
DEPRECIATION
At 1 January 2017
and 31 December 2017 17,081
NET BOOK VALUE
At 31 December 2017 -
At 31 December 2016 -

Page 4 continued...
MEGATRACK LTD (REGISTERED NUMBER: 05792437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2017
and 31 December 2017 775,021
NET BOOK VALUE
At 31 December 2017 775,021
At 31 December 2016 775,021

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2017 2016
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 458,004 462,516

6. RELATED PARTY DISCLOSURES

Mr K A Smith is a director of Smith Meehan Limited. Included within other creditors at the year end is a balance
of £130,836 due to Smith Meehan Limited.

Page 5