Company Registration No. SC559209 (Scotland)
Reid Magic Ltd
Unaudited accounts
for the year ended 31 March 2024
Reid Magic Ltd
Unaudited accounts
Contents
Reid Magic Ltd
Company Information
for the year ended 31 March 2024
Company Number
SC559209 (Scotland)
Registered Office
72 Cromarty Avenue
Glasgow
G43 2HQ
Accountants
Assenti & Noble Ltd
18 Mosshead Road
Bearsden
Glasgow
G61 3HN
Reid Magic Ltd
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
5,199
4,689
Creditors: amounts falling due within one year
(4,729)
(3,908)
Net current assets
470
781
Called up share capital
100
100
Profit and loss account
1,172
681
Shareholders' funds
1,272
781
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 April 2024 and were signed on its behalf by
W Reid
Director
Company Registration No. SC559209
Reid Magic Ltd
Notes to the Accounts
for the year ended 31 March 2024
Reid Magic Ltd is a private company, limited by shares, registered in Scotland, registration number SC559209. The registered office is 72 Cromarty Avenue, Glasgow, G43 2HQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents invoiced fees to external customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
4
Tangible fixed assets
Fixtures & fittings
Reid Magic Ltd
Notes to the Accounts
for the year ended 31 March 2024
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,219
2,704
Loans from directors
2,810
504
6
Average number of employees
During the year the average number of employees was 1 (2023: 1).