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REGISTERED NUMBER: NI630207 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Magic Bullet Fuel Treatments Ltd

Magic Bullet Fuel Treatments Ltd (Registered number: NI630207)






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 Bullet Fuel Treatments Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S Watson





REGISTERED OFFICE: 15 Ferguson Drive
Knockmore Hill Ind Est
Lisburn
Antrim
BT28 2EX





REGISTERED NUMBER: NI630207 (Northern Ireland)





ACCOUNTANTS: ASC Wylie UBU Ltd
Qualified Accountants, Tax & Business Advisors
7 Lisburn Street
Royal Hillsborough
Co. Down
BT26 6AB

Magic Bullet Fuel Treatments Ltd (Registered number: NI630207)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,536 56,920

CURRENT ASSETS
Stocks 5,424 5,424
Debtors 5 39,969 58,876
Cash at bank 49 3,967
45,442 68,267
CREDITORS
Amounts falling due within one year 6 66,899 55,638
NET CURRENT (LIABILITIES)/ASSETS (21,457 ) 12,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,079

69,549

CREDITORS
Amounts falling due after more than one
year

7

(2,813

)

(6,563

)

PROVISIONS FOR LIABILITIES (8,652 ) (10,815 )
NET ASSETS 12,614 52,171

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 12,613 52,170
12,614 52,171

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 Bullet Fuel Treatments Ltd (Registered number: NI630207)

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 23 November 2023 and were signed by:





S Watson - Director


Magic Bullet Fuel Treatments Ltd (Registered number: NI630207)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Magic Bullet Fuel Treatments Ltd is a private company, limited by shares , registered in Northern Ireland. 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.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Magic Bullet Fuel Treatments Ltd (Registered number: NI630207)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 103,088
DEPRECIATION
At 1 April 2022 46,168
Charge for year 11,384
At 31 March 2023 57,552
NET BOOK VALUE
At 31 March 2023 45,536
At 31 March 2022 56,920

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 39,336 57,734
Other debtors 633 1,142
39,969 58,876

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 373 -
Hire purchase contracts 3,750 3,750
Trade creditors 10,127 13,248
Taxation and social security 2,916 8,891
Other creditors 49,733 29,749
66,899 55,638

Magic Bullet Fuel Treatments Ltd (Registered number: NI630207)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 2,813 6,563