Caseware UK (AP4) 2022.0.179 2022.0.179 2022-07-312022-07-3142021-08-01falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09136212 2021-08-01 2022-07-31 09136212 2020-08-01 2021-07-31 09136212 2022-07-31 09136212 2021-07-31 09136212 c:Director2 2021-08-01 2022-07-31 09136212 d:PlantMachinery 2021-08-01 2022-07-31 09136212 d:PlantMachinery 2022-07-31 09136212 d:PlantMachinery 2021-07-31 09136212 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 09136212 d:FurnitureFittings 2021-08-01 2022-07-31 09136212 d:FurnitureFittings 2022-07-31 09136212 d:FurnitureFittings 2021-07-31 09136212 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 09136212 d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 09136212 d:CurrentFinancialInstruments 2022-07-31 09136212 d:CurrentFinancialInstruments 2021-07-31 09136212 d:Non-currentFinancialInstruments 2022-07-31 09136212 d:Non-currentFinancialInstruments 2021-07-31 09136212 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 09136212 d:CurrentFinancialInstruments d:WithinOneYear 2021-07-31 09136212 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 09136212 d:Non-currentFinancialInstruments d:AfterOneYear 2021-07-31 09136212 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 09136212 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-07-31 09136212 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 09136212 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-07-31 09136212 d:ShareCapital 2022-07-31 09136212 d:ShareCapital 2021-07-31 09136212 d:RetainedEarningsAccumulatedLosses 2022-07-31 09136212 d:RetainedEarningsAccumulatedLosses 2021-07-31 09136212 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-07-31 09136212 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2021-07-31 09136212 c:OrdinaryShareClass1 2021-08-01 2022-07-31 09136212 c:OrdinaryShareClass1 2022-07-31 09136212 c:OrdinaryShareClass1 2021-07-31 09136212 c:FRS102 2021-08-01 2022-07-31 09136212 c:AuditExempt-NoAccountantsReport 2021-08-01 2022-07-31 09136212 c:FullAccounts 2021-08-01 2022-07-31 09136212 c:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 09136212 2 2021-08-01 2022-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09136212










MAGNOLIA PARK WYCOMBE LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2022

 
MAGNOLIA PARK WYCOMBE LTD
REGISTERED NUMBER: 09136212

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,696
3,017

  
4,696
3,017

Current assets
  

Debtors: amounts falling due within one year
 5 
446
23,667

Cash at bank and in hand
 6 
4,479
11,044

  
4,925
34,711

Creditors: amounts falling due within one year
 7 
(100,045)
(122,099)

Net current liabilities
  
 
 
(95,120)
 
 
(87,388)

Total assets less current liabilities
  
(90,424)
(84,371)

Creditors: amounts falling due after more than one year
 8 
(28,368)
(31,231)

Provisions for liabilities
  

Other provisions
 10 
(27,500)
(27,500)

  
 
 
(27,500)
 
 
(27,500)

Net liabilities
  
(146,292)
(143,102)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(146,392)
(143,202)

  
(146,292)
(143,102)


Page 1

 
MAGNOLIA PARK WYCOMBE LTD
REGISTERED NUMBER: 09136212
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 October 2023.




Mr P Price
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MAGNOLIA PARK WYCOMBE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

1.


General information

Magnolia Park Wycombe Limited is a company domiciled in England and Wales, the registration number is 09136212. The registered office is Magnolia Park, Valley Road, High Wycombe, Bucks, HP14 4LA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
MAGNOLIA PARK WYCOMBE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
MAGNOLIA PARK WYCOMBE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 4).

Page 5

 
MAGNOLIA PARK WYCOMBE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 August 2021
4,271
7,532
11,803


Additions
2,850
-
2,850



At 31 July 2022

7,121
7,532
14,653



Depreciation


At 1 August 2021
3,608
5,178
8,786


Charge for the year on owned assets
700
471
1,171



At 31 July 2022

4,308
5,649
9,957



Net book value



At 31 July 2022
2,813
1,883
4,696



At 31 July 2021
663
2,354
3,017


5.


Debtors

2022
2021
£
£


Amounts owed by participating interests
-
23,667

Other debtors
446
-

446
23,667



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
4,479
11,044

4,479
11,044


Page 6

 
MAGNOLIA PARK WYCOMBE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
8,000
8,000

Amounts owed to participating interests
4,883
-

Corporation tax
13,744
13,744

Other taxation and social security
35,182
42,421

Other creditors
34,444
54,142

Accruals and deferred income
3,792
3,792

100,045
122,099



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
28,368
31,231

28,368
31,231


Page 7

 
MAGNOLIA PARK WYCOMBE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
8,000
8,000


8,000
8,000

Amounts falling due 1-2 years

Bank loans
8,000
8,000


8,000
8,000

Amounts falling due 2-5 years

Bank loans
20,368
23,231


20,368
23,231


36,368
39,231



10.


Provisions





VAT Provision

£





At 1 August 2021
27,500



At 31 July 2022
27,500


11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100


 
Page 8