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REGISTERED NUMBER: 05151290 (England and Wales)












UNAUDITED CESSATION FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023

FOR

MAGNA 34 BUSINESS PARK LIMITED

MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAGNA 34 BUSINESS PARK LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023







DIRECTORS: R G Wadsworth
A O McGee
P R Herbert



SECRETARY: Mrs M Wadsworth



REGISTERED OFFICE: 201 High Street
Ecclesfield
Sheffield
South Yorkshire
S35 9XB



REGISTERED NUMBER: 05151290 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: HSBC Bank PLC
17 Church Street
Sheffield
South Yorkshire
S1 1HH

MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 800,000

CURRENT ASSETS
Stocks 10,001 214,868
Debtors 5 1,567,090 343,151
Cash at bank 3,078,361 3,597,046
4,655,452 4,155,065
CREDITORS
Amounts falling due within one year 6 17,788 420,060
NET CURRENT ASSETS 4,637,664 3,735,005
TOTAL ASSETS LESS CURRENT LIABILITIES 4,637,664 4,535,005

CREDITORS
Amounts falling due after more than
one year

7

-

(108,000

)

PROVISIONS FOR LIABILITIES - (38,000 )
NET ASSETS 4,637,664 4,389,005

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 - 100,000
Retained earnings 4,637,564 4,288,905
SHAREHOLDERS' FUNDS 4,637,664 4,389,005

MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290)

BALANCE SHEET - continued
31 DECEMBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

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 12 February 2024 and were signed on its behalf by:





P R Herbert - Director


MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

Magna 34 Business Park 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

When the outcome of a transaction can be estimated reliably, turnover from property rental income is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to rental period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 800,000
Transfer from stock 693,115
Disposals (1,493,115 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 30 June 2022 800,000

MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 30.6.22
£    £   
Trade debtors 1,502,580 47,578
Other debtors 59,500 129,983
VAT 5,010 -
Prepayments and accrued income - 165,590
1,567,090 343,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 30.6.22
£    £   
Trade creditors 10,744 31,573
Accruals and deferred income 7,044 60,897
Corporation tax - 319,824
VAT - 7,766
17,788 420,060

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 30.6.22
£    £   
Other creditors - 108,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 30.6.22
value: £    £   
100 Ordinary shares £1 100 100

MAGNA 34 BUSINESS PARK LIMITED (REGISTERED NUMBER: 05151290)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 31 DECEMBER 2023

9. RESERVES
Revaluatio
reserve
£   
At 1 July 2022 100,000
Investment property
revaluation (100,000 )

At 31 December 2023 -