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The Magic Lantern Limited
Registered Number:10162848
For the year ended 31 March 2023
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 March 2023
The Magic Lantern Limited
Contents Page
Company Information
1
2
Directors' Report
3
Independent Accountant's Report
4
Income Statement
5 to 6
Statement of Financial Position and Notes to the Accounts
7
Trading and Profit and Loss Account
3
For the year ended 31 March 2023
The Magic Lantern Limited
Company Information
Geoffrey Hill
Directors
Ann Grundy
Sara Hulls
10162848
Registered Number
Tywyn Cinema
Registered Office
Corbett Square
Tywyn
Gwynedd
LL36 9DF
Ashley Jones Accountants Ltd
Accountant
31 Church Street
Bishops Castle
Shopshire
SY9 5AD
1 of 7
4
For the year ended 31 March 2023
The Magic Lantern Limited
Directors' Report
The directors present their report and financial statements for the year ended 31 March 2023.
Principal activities
The principal activity of the company is that of a Cinema and Bar.
Directors
The directors who served the company throughout the year were as follows:
Geoffrey Hill
Ann Grundy
Sara Hulls
Sara Hulls
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
25 October 2023
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5
For the year ended 31 March 2023
The Magic Lantern Limited
Independent Accountant's Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements
for the year ended 31 March 2023 and you consider that the company is exempt from an audit under the Companies
Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to
assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations
supplied to us.
Ashley Jones Accountants Ltd
31 Church Street
Bishops Castle
Shopshire
SY9 5AD
Date:
25 October 2023
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6
For the year ended 31 March 2023
The Magic Lantern Limited
Income Statement
2022
2023
£
£
Turnover
278,733
241,618
Other income
61,833
99,579
Cost of raw materials and consumables
(122,028)
(102,049)
Staff costs
(135,040)
(159,630)
Depreciation and other amounts written off assets
(24,932)
(10,104)
Other charges
(60,292)
(49,573)
-
2,215
Tax
(1,726)
22,056
Loss for the financial year
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7
10162848
Registered Number :
As at 31 March 2023
The Magic Lantern Limited
Statement of Financial Position and Notes to the Accounts
£
£
2022
2023
£
£
78,425
65,651
Fixed assets
38,003
38,193
Current assets
Prepayments and accrued income
1,986
3,401
Creditors: amounts falling due
within one year
(30,336)
(23,254)
11,258
16,735
Net current assets
Total assets less current liabilities
95,160
76,909
Accruals and deferred income
(60,344)
(40,367)
34,816
Net assets
36,542
34,816
36,542
Capital and reserves
Notes to the Accounts
Statutory Information
The Magic Lantern Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 10162848.
Registered address:
Tywyn Cinema
Corbett Square
Tywyn
Gwynedd
LL36 9DF
The presentation currency is £ sterling.
1. Average number of persons employed
During the year the average number of employees was 21 (2022 : 12)
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8
10162848
Registered Number :
For the year ended 31 March 2023
The Magic Lantern Limited
Statement of Financial Position and Notes to the Accounts Continued
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
These financial statements have been prepared in accordance with the micro-entities provisions.
Sara Hulls
These financial statements were approved and authorised for issue by the Board on 25 October 2023 and were signed by:
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9
For the year ended 31 March 2023
The Magic Lantern Limited
Trading and Profit and Loss Account
£
£
2022
2023
Turnover
241,492
278,462
Sales
126
271
Other Income
278,733
241,618
Cost of Sales
6,905
2,587
Opening Stock
53,149
44,523
Film Rental & Associated Costs
71,209
61,844
Purchases of Stock & Events
(9,235)
(6,905)
Closing Stock
(122,028)
(102,049)
156,705
Gross Profit
139,569
Administrative Expenses
97,888
129,580
Wages & Salaries
933
-
Staff Training
36,219
30,050
Directors Salaries
1,944
1,395
Accountancy Fees
2,903
1,061
Professional fees
1,468
1,269
Rates & Water
4,310
2,500
Rent
17,311
8,524
Light, Heat & Power
3,770
3,801
Equipment Service Contracts
1,522
687
General Travel Expenses
5,872
6,542
Bank Charges
1,750
1,750
Amortisation: Lease
23,182
8,354
Depreciation Charge
1,967
1,650
General Insurance
7,425
12,774
Repairs & Maintenance
7,489
3,394
Stationery, Computing & Advertising
1,148
1,088
Telephone, Fax & Internet
1,430
3,137
Sundry Expenses
1,733
1,751
Operating Lease Charges - Equipment
(220,264)
(219,307)
Operating Loss
(63,559)
(79,738)
Other Operating Income
56,444
94,251
Grants Received
5,310
5,326
Donations
61,754
99,577
Investment Income
79
2
Interest Received
79
2
19,841
(1,726)
Loss before Taxation
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