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REGISTERED NUMBER: SC221582 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Magna Design Ltd

Magna Design Ltd (Registered number: SC221582)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Magna Design Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: S Bose





SECRETARY: R P Burns





REGISTERED OFFICE: Pearson Hall
172 Yorkhill Street
Glasgow
G3 8PH





REGISTERED NUMBER: SC221582 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Magna Design Ltd (Registered number: SC221582)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,423 1,897

CURRENT ASSETS
Debtors 5 372 372
Cash at bank 10,731 17,287
11,103 17,659
CREDITORS
Amounts falling due within one year 6 (2,691 ) (3,996 )
NET CURRENT ASSETS 8,412 13,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,835

15,560

PROVISIONS FOR LIABILITIES - (341 )
NET ASSETS 9,835 15,219

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 9,834 15,218
SHAREHOLDERS' FUNDS 9,835 15,219

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 April 2024 and were signed by:



S Bose - Director


Magna Design Ltd (Registered number: SC221582)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Magna Design Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 12,912
DEPRECIATION
At 1 August 2022 11,015
Charge for year 474
At 31 July 2023 11,489
NET BOOK VALUE
At 31 July 2023 1,423
At 31 July 2022 1,897

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 372 372

Magna Design Ltd (Registered number: SC221582)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 1 1
Other creditors 2,690 3,995
2,691 3,996