1 April 2022 false Taxfiler 2023.10 05952530business:PrivateLimitedCompanyLtd2022-04-012023-03-31 059525302022-03-31 059525302022-04-012023-03-31 05952530business:AuditExemptWithAccountantsReport2022-04-012023-03-31 05952530business:FilletedAccounts2022-04-012023-03-31 059525302023-03-31 05952530business:Director12022-04-012023-03-31 05952530business:Director22022-04-012023-03-31 05952530business:RegisteredOffice2022-04-012023-03-31 059525302022-03-31 05952530core:WithinOneYear2023-03-31 05952530core:WithinOneYear2022-03-31 05952530core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 05952530core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 05952530core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 05952530core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 05952530core:PreviouslyStatedAmount2023-03-31 05952530core:PreviouslyStatedAmount2022-03-31 05952530business:SmallEntities2022-04-012023-03-31 05952530countries:EnglandWales2022-04-012023-03-31 05952530core:PlantMachinery2022-04-012023-03-31 05952530core:LandBuildings2022-03-31 05952530core:PlantMachinery2022-03-31 05952530core:LandBuildings2023-03-31 05952530core:PlantMachinery2023-03-31 05952530core:LandBuildings2022-04-012023-03-31 05952530core:AdditionsToInvestments2023-03-31 05952530core:DisposalsRepaymentsInvestments2023-03-31 059525302021-04-012022-03-31 iso4217:GBP xbrli:pure
Company Registration No. 05952530 (England and Wales)
MAGIC TOYZ LTD Unaudited accounts for the year ended 31 March 2023
MAGIC TOYZ LTD Unaudited accounts Contents
Page
- 2 -
MAGIC TOYZ LTD Company Information for the year ended 31 March 2023
Directors
Natasha Shazia AMIN Mohammad Aslam BHATTI
Company Number
05952530 (England and Wales)
Registered Office
UNIT 17, ACCESS 4:20 NEW HYTHE BUSINESS BELLINGHAM WAY AYLESFORD KENT ME20 7HP UNITED KINGDOM
Accountants
Faruk Ahmed FCCA 9 Priory Close Churchfields London E18 2QT
- 3 -
MAGIC TOYZ LTD Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,906 
3,418 
Investments
433,022 
566,223 
435,928 
569,641 
Current assets
Inventories
615,000 
578,013 
Debtors
2,635,333 
2,569,781 
Cash at bank and in hand
323,741 
525,912 
3,574,074 
3,673,706 
Creditors: amounts falling due within one year
(792,295)
(1,134,244)
Net current assets
2,781,779 
2,539,462 
Total assets less current liabilities
3,217,707 
3,109,103 
Provisions for liabilities
Other provisions
- 
(50,000)
Net assets
3,217,707 
3,059,103 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
3,217,607 
3,059,003 
Shareholders' funds
3,217,707 
3,059,103 
For the year ending 31 March 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 22 December 2023 and were signed on its behalf by
Mohammad Aslam BHATTI Director Company Registration No. 05952530
- 4 -
MAGIC TOYZ LTD Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
MAGIC TOYZ LTD is a private company, limited by shares, registered in England and Wales, registration number 05952530. The registered office is UNIT 17, ACCESS 4:20 NEW HYTHE BUSINESS , BELLINGHAM WAY, AYLESFORD, KENT, ME20 7HP, UNITED KINGDOM.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Plant & machinery
15% Reducing Balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
87,512 
61,168 
148,680 
At 31 March 2023
87,512 
61,168 
148,680 
Depreciation
At 1 April 2022
87,512 
57,750 
145,262 
Charge for the year
- 
512 
512 
At 31 March 2023
87,512 
58,262 
145,774 
Net book value
At 31 March 2023
- 
2,906 
2,906 
At 31 March 2022
- 
3,418 
3,418 
- 5 -
MAGIC TOYZ LTD Notes to the Accounts for the year ended 31 March 2023
5
Investments
Other investments 
£ 
Valuation at 1 April 2022
566,223 
Additions
49,999 
Disposals
(183,200)
Valuation at 31 March 2023
433,022 
Company has made further investment of £49,999 in listed shares. It has a gain of £11,560 and loss of £194,761 from trading activities resulting a net loss of £183,200.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
703,156 
636,387 
Other debtors
1,932,177 
1,933,394 
2,635,333 
2,569,781 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,097 
- 
Trade creditors
278,559 
571,990 
Taxes and social security
110,197 
160,812 
Other creditors
401,442 
401,442 
792,295 
1,134,244 
8
Average number of employees
During the year the average number of employees was 9 (2022: 9).
- 6 -