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REGISTERED NUMBER: 07685325 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Magpie Creative Communications Limited

Magpie Creative Communications Limited (Registered number: 07685325)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Magpie Creative Communications Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs R Dam
G Savva





SECRETARY:





REGISTERED OFFICE: Third Floor
Munro House
Duke Street
Leeds
West Yorkshire
LS9 8AG





REGISTERED NUMBER: 07685325 (England and Wales)

Magpie Creative Communications Limited (Registered number: 07685325)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 15,874 24,734
15,874 24,734

CURRENT ASSETS
Stocks 19,411 7,400
Debtors 6 155,978 208,307
Cash at bank and in hand 646,535 578,686
821,924 794,393
CREDITORS
Amounts falling due within one year 7 444,312 482,423
NET CURRENT ASSETS 377,612 311,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

393,486

336,704

CREDITORS
Amounts falling due after more than one
year

8

23,333

33,333
NET ASSETS 370,153 303,371

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 370,053 303,271
SHAREHOLDERS' FUNDS 370,153 303,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Magpie Creative Communications Limited (Registered number: 07685325)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:




Mrs R Dam - Director



G Savva - Director


Magpie Creative Communications Limited (Registered number: 07685325)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Magpie Creative Communications 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.

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 represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance.
Computer equipment - 33% on cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Magpie Creative Communications Limited (Registered number: 07685325)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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 22 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1 July 2022
and 30 June 2023 46,350 37,000 83,350
AMORTISATION
At 1 July 2022
and 30 June 2023 46,350 37,000 83,350
NET BOOK VALUE
At 30 June 2023 - - -
At 30 June 2022 - - -

Magpie Creative Communications Limited (Registered number: 07685325)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 July 2022 - 76,841 56,291 133,132
Additions 675 4,128 629 5,432
At 30 June 2023 675 80,969 56,920 138,564
DEPRECIATION
At 1 July 2022 - 65,254 43,144 108,398
Charge for year 169 4,935 9,188 14,292
At 30 June 2023 169 70,189 52,332 122,690
NET BOOK VALUE
At 30 June 2023 506 10,780 4,588 15,874
At 30 June 2022 - 11,587 13,147 24,734

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£ £
Trade debtors 124,343 203,264
Other debtors 31,635 5,043
155,978 208,307

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 46,654 59,237
Taxation and social security 214,693 188,211
Other creditors 172,965 224,975
444,312 482,423

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£ £
Bank loans 23,333 33,333

9. RELATED PARTY DISCLOSURES

Controlling Party

The company is under the control of Mr G Savva & Miss R Edlin, who together own 100% of the shares.