Company registration number 14486604 (England and Wales)
THE MAGUIRE 4 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE MAGUIRE 4 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE MAGUIRE 4 LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
Notes
£
£
Current assets
Debtors
3
3,285
Cash at bank and in hand
28,284
31,569
Creditors: amounts falling due within one year
4
(13,426)
Net current assets
18,143
Capital and reserves
Called up share capital
5
20
Profit and loss reserves
18,123
Total equity
18,143
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on
22 April 2024
22 April 2024
and are signed on its behalf by:
Dr A Maguire
Director
Company registration number 14486604 (England and Wales)
THE MAGUIRE 4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information
The Maguire 4 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Baronswood, Gosforth, Newcastle upon Tyne, NE3 3UB.
1.1
Reporting period
The company was incorporated on 15 November 2022 and have prepared a 54 week set of accounts running to 30 November 2023.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover represents amounts receivable for services. Turnover is attributable to the continuing principal activity of the company and arose wholly within the United Kingdom.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
THE MAGUIRE 4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Total
2
3
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
3,285
4
Creditors: amounts falling due within one year
2023
£
Corporation tax
10,815
Other creditors
451
Accruals and deferred income
2,160
13,426
THE MAGUIRE 4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 4 -
5
Called up share capital
2023
Ordinary share capital
£
Issued and fully paid
10 Ordinary A shares of £1 each
10
10 Ordinary B shares of £1 each
10
20
6
Related party transactions
The following amounts were outstanding at the reporting end date:
2023
Amounts due to related parties
£
Directors
451
There are no set terms as to repayment of this balance and no interest accruing thereon.