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REGISTERED NUMBER: 05359534 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MAGIC MEDIA LIMITED

MAGIC MEDIA LIMITED (REGISTERED NUMBER: 05359534)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAGIC MEDIA LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: D I Rose





REGISTERED OFFICE: 20 Ivinghoe Road
Bushey Heath
Hertfordshire
WD23 4SW





REGISTERED NUMBER: 05359534 (England and Wales)





ACCOUNTANTS: KNIGHT WHEELER LIMITED
Chartered Accountants
54 Sun Street
Waltham Abbey
Essex
EN9 1EJ

MAGIC MEDIA LIMITED (REGISTERED NUMBER: 05359534)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 29,370 8,860

CURRENT ASSETS
Debtors 5 53,946 54,984
Cash at bank 118,085 122,849
172,031 177,833
CREDITORS
Amounts falling due within one year 6 (27,103 ) (16,504 )
NET CURRENT ASSETS 144,928 161,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,298

170,189

CREDITORS
Amounts falling due after more than one
year

7

(6,350

)

(9,063

)
NET ASSETS 167,948 161,126

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 167,947 161,125
167,948 161,126

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 director acknowledges his 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 MEDIA LIMITED (REGISTERED NUMBER: 05359534)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





D I Rose - Director


MAGIC MEDIA LIMITED (REGISTERED NUMBER: 05359534)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Magic Media Limited 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 statement is the Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.
Home office - 10% on cost
Office equipment - 25% on reducing balance

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and any short term deposits.

MAGIC MEDIA LIMITED (REGISTERED NUMBER: 05359534)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Home Office
office equipment Totals
£    £    £   
COST
At 1 April 2022 20,000 40,740 60,740
Additions 24,500 1,567 26,067
At 31 March 2023 44,500 42,307 86,807
DEPRECIATION
At 1 April 2022 14,000 37,880 51,880
Charge for year 4,450 1,107 5,557
At 31 March 2023 18,450 38,987 57,437
NET BOOK VALUE
At 31 March 2023 26,050 3,320 29,370
At 31 March 2022 6,000 2,860 8,860

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,622 8,580
Directors' current accounts 51,324 46,404
53,946 54,984

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,165 3,454
Trade creditors 8,838 -
Tax 8,325 8,617
VAT 3,950 2,284
Other creditors - 57
Credit card 1,175 517
Accrued expenses 1,650 1,575
27,103 16,504

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,165 3,454
Bank loans - 2-5 years 3,185 5,609
6,350 9,063

MAGIC MEDIA LIMITED (REGISTERED NUMBER: 05359534)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
D I Rose
Balance outstanding at start of year 46,404 31,934
Amounts advanced 51,324 46,404
Amounts repaid (46,404 ) (31,934 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51,324 46,404

The loan was unsecured and repaid after the year end.