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REGISTERED NUMBER: 06456629 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Magic And Logic Ltd

Magic And Logic Ltd (Registered number: 06456629)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Magic And Logic Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs N O'Dwyer
Miss L Meakes





SECRETARY: Miss L Meakes





REGISTERED OFFICE: Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ





REGISTERED NUMBER: 06456629 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

Magic And Logic Ltd (Registered number: 06456629)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 390

CURRENT ASSETS
Debtors 6 312,227 9,791
Cash at bank 582,565 230,002
894,792 239,793
CREDITORS
Amounts falling due within one year 7 543,664 20,099
NET CURRENT ASSETS 351,128 219,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,128

220,084

CREDITORS
Amounts falling due after more than one year 8 22,346 32,048
NET ASSETS 328,782 188,036

CAPITAL AND RESERVES
Alloted, called up and fully
paid share capital 1,000 1,000
Retained earnings 327,782 187,036
SHAREHOLDERS' FUNDS 328,782 188,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Magic And Logic Ltd (Registered number: 06456629)

Statement of Financial Position - continued
31 March 2023


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

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 Board of Directors and authorised for issue on 14 August 2023 and were signed on its behalf by:




Mrs N O'Dwyer - Director



Miss L Meakes - Director


Magic And Logic Ltd (Registered number: 06456629)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Magic And Logic 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

Magic And Logic Ltd (Registered number: 06456629)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022
and 31 March 2023 7,069
DEPRECIATION
At 1 April 2022 6,679
Charge for year 390
At 31 March 2023 7,069
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 390

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 307,628 5,187
Other debtors 3,879 3,879
Prepayments 720 725
312,227 9,791

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 10,891 123
Tax 56,587 3,807
VAT 202,201 2,167
Other creditors 255,486 84
Directors' current accounts 6,272 1,539
Accrued expenses 2,227 2,379
543,664 20,099

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 12,346 22,048
22,346 32,048