REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 12 June 2022 to 30 June 2023 |
for |
Stay Magic Ltd |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
48 Hucclecote Road |
Gloucester |
Gloucestershire |
GL3 3RS |
BANKERS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
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 |
At 30 June 2023 |
Depreciation |
Charge for period |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 1 |
1 Ordinary share of £1 was allotted and fully paid for |
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. |