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REGISTERED NUMBER: 09272388 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st October 2023

for

MAGISTRA LIMITED

MAGISTRA LIMITED (REGISTERED NUMBER: 09272388)






Contents of the Financial Statements
for the Year Ended 31st October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAGISTRA LIMITED

Company Information
for the Year Ended 31st October 2023







DIRECTORS: Mrs M Adams
Mrs VA Farnworth





REGISTERED OFFICE: Copthurst Cottage
Copthurst Lane
Whittle le Woods
Chorley
Lancashire
PR6 8LP





REGISTERED NUMBER: 09272388 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

MAGISTRA LIMITED (REGISTERED NUMBER: 09272388)

Balance Sheet
31st October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,657 1,809

CURRENT ASSETS
Debtors 5 - 926
Cash at bank 25,619 19,335
25,619 20,261
CREDITORS
Amounts falling due within one year 6 20,679 21,543
NET CURRENT ASSETS/(LIABILITIES) 4,940 (1,282 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,597

527

PROVISIONS FOR LIABILITIES 315 344
NET ASSETS 6,282 183

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 6,182 83
SHAREHOLDERS' FUNDS 6,282 183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

MAGISTRA LIMITED (REGISTERED NUMBER: 09272388)

Balance Sheet - continued
31st October 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 25th March 2024 and were signed on its behalf by:




Mrs M Adams - Director



Mrs VA Farnworth - Director


MAGISTRA LIMITED (REGISTERED NUMBER: 09272388)

Notes to the Financial Statements
for the Year Ended 31st October 2023

1. STATUTORY INFORMATION

Magistra 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

MAGISTRA LIMITED (REGISTERED NUMBER: 09272388)

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

2. ACCOUNTING POLICIES - continued

Cash and cash
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st November 2022 3,523
Additions 262
At 31st October 2023 3,785
DEPRECIATION
At 1st November 2022 1,714
Charge for year 414
At 31st October 2023 2,128
NET BOOK VALUE
At 31st October 2023 1,657
At 31st October 2022 1,809

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors - 926

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 1,237 1,125
Tax 8,489 14,572
Social security and other taxes 9,247 4,764
Other creditors 66 10
Directors' current accounts 740 222
Accrued expenses 900 850
20,679 21,543

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1 Ordinary shares 1 100 100

MAGISTRA LIMITED (REGISTERED NUMBER: 09272388)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.10.23 31.10.22
£    £   
Mrs M Adams
Balance outstanding at start of year - 134
Amounts repaid - (134 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -