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Company Registration No. SC559209 (Scotland)
Reid Magic Ltd Unaudited accounts for the year ended 31 March 2024
Reid Magic Ltd Unaudited accounts Contents
Page
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Reid Magic Ltd Company Information for the year ended 31 March 2024
Director
W Reid
Company Number
SC559209 (Scotland)
Registered Office
72 Cromarty Avenue Glasgow G43 2HQ
Accountants
Assenti & Noble Ltd 18 Mosshead Road Bearsden Glasgow G61 3HN
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Reid Magic Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
802 
- 
Current assets
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 
Net assets
1,272 
781 
Capital and reserves
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
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Reid Magic Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 
£ 
Cost or valuation
At cost 
At 1 April 2023
- 
Additions
1,002 
At 31 March 2024
1,002 
Depreciation
Charge for the year
200 
At 31 March 2024
200 
Net book value
At 31 March 2024
802 
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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 
Accruals
700 
700 
4,729 
3,908 
6
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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