For the year ended 30 September 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 08229050
Mega Electrical NW Ltd
For the year ended 30 September 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Mega Electrical NW Ltd
Accountants' Report
For the year ended 30 September 2016
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of Mega Electrical NW Ltd for the year ended
30
September
2016
which comprise the Profit and Loss
|
Account
,
the Balance Sheet and the related notes from the company
'
s accounting records and from information
|
and explanations you have given us
.
|
As a practising firm of the Association of Chartered Certified Accountants
,
we are subject to its ethical and other
|
professional requirements which are detailed at http
://
rulebook
.
accaglobal
.
com
.
|
This report is made solely to the Board of Directors of Mega Electrical NW Ltd
,
as a body
,
in accordance with the
|
terms of our engagement letter dated
27
September
2012
.
Our work has been undertaken solely to prepare for
|
your approval the accounts of Mega Electrical NW Ltd and state those matters that we have agreed to state to the
|
Board of Directors of Mega Electrical NW Ltd
,
as a body
,
in this report in accordance with the requirements of the
|
Association of Chartered Certified Accountants and as detailed at http
://
www
.
accaglobal
.
com
/
factsheet
163
.
To the
|
fullest extent permitted by law
,
we do not accept or assume responsibility to anyone other than Mega Electrical NW
|
Ltd and its Board of Directors as a body for our work or for this report
.
|
It is your duty to ensure that Mega Electrical NW Ltd has kept adequate accounting records and to prepare
|
statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of Mega
|
Electrical NW Ltd
.
You consider that Mega Electrical NW Ltd is exempt from the statutory audit requirement for the
|
year
.
|
The Archetype Accountants Ltd
Unit 1B The Old Chapel
Denbigh Road
Hendre
Mold
CH7 5QL
22 June 2017
1 of 4
Notes to the Abbreviated Financial Statements
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Mega Electrical NW Ltd
For the year ended 30 September 2016
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
|
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Computer Equipment
Motor Vehicles
Assets on finance lease and hire purchase
|
Assets held under finance lease or hire purchase contracts i
.
e
.
those contracts where substantially all the risks and
|
rewards of ownership have passed to the company
,
are included in the appropriate category of tangible fixed assets
|
and depreciated over the shorter of the lease term and their estimated expected useful lives
.
|
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods
.
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 4
Notes to the Abbreviated Financial Statements
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Mega Electrical NW Ltd
For the year ended 30 September 2016
96,271
14,250
(6,250)
104,271
35,322
(3,988)
14,587
Charge for year
45,921
58,350
60,949
4 of 4