REGISTERED NUMBER: |
UNAUDITED CESSATION FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
FOR |
MAGNA 34 BUSINESS PARK LIMITED |
REGISTERED NUMBER: |
UNAUDITED CESSATION FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
FOR |
MAGNA 34 BUSINESS PARK LIMITED |
MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MAGNA 34 BUSINESS PARK LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
BANKERS: |
17 Church Street |
Sheffield |
South Yorkshire |
S1 1HH |
MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290) |
BALANCE SHEET |
31 DECEMBER 2023 |
31.12.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Magna 34 Business Park Limited is a |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements. |
There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
When the outcome of a transaction can be estimated reliably, turnover from property rental income is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to rental period. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
Transfer from stock |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 30 June 2022 |
MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 30.6.22 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 30.6.22 |
£ | £ |
Trade creditors | 10,744 | 31,573 |
Accruals and deferred income | 7,044 | 60,897 |
Corporation tax |
VAT | - | 7,766 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 30.6.22 |
£ | £ |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 30.6.22 |
value: | £ | £ |
Ordinary shares | £1 | 100 | 100 |
MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023 |
9. | RESERVES |
Revaluatio |
reserve |
£ |
At 1 July 2022 |
Investment property |
revaluation | (100,000 | ) |
At 31 December 2023 |