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REGISTERED NUMBER: 14166685 (England and Wales)















Unaudited Financial Statements

for the Period 12 June 2022 to 30 June 2023

for

Stay Magic Ltd

Stay Magic Ltd (Registered number: 14166685)

Contents of the Financial Statements
for the Period 12 June 2022 to 30 June 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Stay Magic Ltd

Company Information
for the Period 12 June 2022 to 30 June 2023







DIRECTORS: P D Halsted
Mrs K S Halsted



REGISTERED OFFICE: 41 Brookfield Lane
Churchdown
Gloucester
GL3 2PR



REGISTERED NUMBER: 14166685 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Revolut
7 Westferry Circus
Canary Wharf
London
E14 4HD

Stay Magic Ltd (Registered number: 14166685)

Statement of Financial Position
30 June 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 6,750

CURRENT ASSETS
Debtors 5 2,554
Cash at bank 5
2,559
CREDITORS
Amounts falling due within one year 6 30,318
NET CURRENT LIABILITIES (27,759 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,009

)

CAPITAL AND RESERVES
Called up share capital 8 1
Retained earnings (21,010 )
SHAREHOLDERS' FUNDS (21,009 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:





P D Halsted - Director


Stay Magic Ltd (Registered number: 14166685)

Notes to the Financial Statements
for the Period 12 June 2022 to 30 June 2023


1. STATUTORY INFORMATION

Stay Magic 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 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. 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.
Fixtures and fittings - 25% on cost

Taxation
Taxation for the period 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 statement of financial position date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
Despite net liabilities of £27,759, the accounts have been prepared on a going concern basis.

The directors have expressed their willingness to financially support the business for the foreseeable future. On the basis of this, the directors considers it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

Stay Magic Ltd (Registered number: 14166685)

Notes to the Financial Statements - continued
for the Period 12 June 2022 to 30 June 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
Cost
Additions 9,000
At 30 June 2023 9,000
Depreciation
Charge for period 2,250
At 30 June 2023 2,250
Net book value
At 30 June 2023 6,750

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 704
Other debtors 1,850
2,554

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 151
Amounts owed to group undertakings 2,649
Other creditors 27,518
30,318

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 5,550

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 Ordinary £1 1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the period.

Stay Magic Ltd (Registered number: 14166685)

Notes to the Financial Statements - continued
for the Period 12 June 2022 to 30 June 2023


9. RELATED PARTY DISCLOSURES

P D and Mrs K S Halsted
Directors

The directors have loaned funds to the company. At 30 June 2023, the company owed the directors £26,845. The unsecured loan, included within other creditors, is interest free with no fixed repayment terms.

The Property Wizards Group Ltd
Parent Company

The parent company has loaned funds to the company. At 30 June 2023, the company owed the parent company £2,649. The unsecured loan, included within other creditors, is interest free with no fixed repayment terms.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by The Property Wizards Group Ltd, a company controlled by the directors P D Halsted and Mrs K S Halsted. The Property Wizards Group Ltd, which shares the same registered office as Stay Magic Ltd, has taken the option under Section 399 (2A) of Companies Act 2006 not to prepare consolidated financial statements.