Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-03-18falseNo description of principal activity10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13986267 2022-03-17 13986267 2022-03-18 2023-03-31 13986267 2021-03-18 2022-03-17 13986267 2023-03-31 13986267 c:Director1 2022-03-18 2023-03-31 13986267 d:Buildings 2022-03-18 2023-03-31 13986267 d:Buildings 2023-03-31 13986267 d:Buildings d:OwnedOrFreeholdAssets 2022-03-18 2023-03-31 13986267 d:FurnitureFittings 2022-03-18 2023-03-31 13986267 d:FurnitureFittings 2023-03-31 13986267 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-18 2023-03-31 13986267 d:OfficeEquipment 2022-03-18 2023-03-31 13986267 d:OfficeEquipment 2023-03-31 13986267 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-18 2023-03-31 13986267 d:OwnedOrFreeholdAssets 2022-03-18 2023-03-31 13986267 d:CurrentFinancialInstruments 2023-03-31 13986267 d:Non-currentFinancialInstruments 2023-03-31 13986267 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13986267 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13986267 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 13986267 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 13986267 d:ShareCapital 2023-03-31 13986267 d:RetainedEarningsAccumulatedLosses 2023-03-31 13986267 c:OrdinaryShareClass1 2022-03-18 2023-03-31 13986267 c:OrdinaryShareClass1 2023-03-31 13986267 c:OrdinaryShareClass2 2022-03-18 2023-03-31 13986267 c:OrdinaryShareClass2 2023-03-31 13986267 c:FRS102 2022-03-18 2023-03-31 13986267 c:AuditExempt-NoAccountantsReport 2022-03-18 2023-03-31 13986267 c:FullAccounts 2022-03-18 2023-03-31 13986267 c:PrivateLimitedCompanyLtd 2022-03-18 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 13986267







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2023


THE MAGIC OF CHRISTMAS LIMITED






































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THE MAGIC OF CHRISTMAS LIMITED
REGISTERED NUMBER:13986267



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Tangible assets
 3 
29,389

  
29,389

Current assets
  

Stocks
  
45,000

Debtors: amounts falling due within one year
 4 
630

Cash at bank and in hand
  
5,797

  
51,427

Creditors: amounts falling due within one year
 5 
(54,470)

Net current (liabilities)/assets
  
 
 
(3,043)

Total assets less current liabilities
  
26,346

Creditors: amounts falling due after more than one year
 6 
(24,167)

  

Net assets
  
2,179


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
2,079

  
2,179


Page 1

 


THE MAGIC OF CHRISTMAS LIMITED
REGISTERED NUMBER:13986267


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Jeremy Charles Edward Dyson
Director
Date: 23 January 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


THE MAGIC OF CHRISTMAS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
1.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


THE MAGIC OF CHRISTMAS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.Accounting policies (continued)

 
1.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
10%
Fixtures and fittings
-
20%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.11

Financial instruments

Page 4

 


THE MAGIC OF CHRISTMAS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.Accounting policies (continued)


1.11
Financial instruments (continued)

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

 
1.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


Employees

The average monthly number of employees, including directors, during the period was 10.


3.


Tangible fixed assets





Freehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


Additions
36,234
1,810
702
38,746



At 31 March 2023

36,234
1,810
702
38,746



Depreciation


Charge for the period on owned assets
8,187
936
234
9,357



At 31 March 2023

8,187
936
234
9,357



Net book value



At 31 March 2023
28,047
874
468
29,389


4.


Debtors

2023
£


Other debtors
630

630


Page 5

 


THE MAGIC OF CHRISTMAS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

5.


Creditors: Amounts falling due within one year

2023
£

Bank overdrafts
26,306

Bank loans
10,000

Amounts owed to associated undertakings
8,188

Corporation tax
5,488

Other taxation and social security
24

Other creditors
3,464

Accruals and deferred income
1,000

54,470



6.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
24,167

24,167



7.


Loans


Analysis of the maturity of loans is given below:


2023
£

Amounts falling due within one year

Bank loans
10,000


10,000

Amounts falling due 1-2 years

Bank loans
10,000


10,000

Amounts falling due 2-5 years

Bank loans
14,166


14,166


34,166


Page 6

 


THE MAGIC OF CHRISTMAS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

8.


Share capital

2023
£
Allotted, called up and fully paid


85 Ordinary A shares of £1.00 each
85
15 Ordinary B shares of £1.00 each
15

100




 
Page 7