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REGISTERED NUMBER: 08725676 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MAGIC WORDS THERAPY LIMITED

MAGIC WORDS THERAPY LIMITED (REGISTERED NUMBER: 08725676)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAGIC WORDS THERAPY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: E Harris
F Paterson





REGISTERED OFFICE: 1 Bassett Court
Newport Pagnell
Buckinghamshire
MK16 0JN





REGISTERED NUMBER: 08725676 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

MAGIC WORDS THERAPY LIMITED (REGISTERED NUMBER: 08725676)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 53,210 19,297

CURRENT ASSETS
Debtors 5 137,253 95,823
Cash at bank and in hand 74,851 47,506
212,104 143,329
CREDITORS
Amounts falling due within one year 6 109,256 77,356
NET CURRENT ASSETS 102,848 65,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

156,058

85,270

CREDITORS
Amounts falling due after more than one
year

7

(24,746

)

(29,000

)

PROVISIONS FOR LIABILITIES (10,110 ) -
NET ASSETS 121,202 56,270

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 121,002 56,070
SHAREHOLDERS' FUNDS 121,202 56,270

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

The members have not required the company to obtain an audit of its financial statements for the year 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.

MAGIC WORDS THERAPY LIMITED (REGISTERED NUMBER: 08725676)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:




F Paterson - Director



E Harris - Director


MAGIC WORDS THERAPY LIMITED (REGISTERED NUMBER: 08725676)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Magic Words Therapy 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 presentation currency of the financial statements is the Pound Sterling (£).


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 each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

TAXATION
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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 year 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MAGIC WORDS THERAPY LIMITED (REGISTERED NUMBER: 08725676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 January 2023 5,699 27,082 32,781
Additions 13,564 29,279 42,843
At 31 December 2023 19,263 56,361 75,624
DEPRECIATION
At 1 January 2023 2,905 10,579 13,484
Charge for year 2,856 6,074 8,930
At 31 December 2023 5,761 16,653 22,414
NET BOOK VALUE
At 31 December 2023 13,502 39,708 53,210
At 31 December 2022 2,794 16,503 19,297

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 60,986 36,985
Other debtors 76,267 58,838
137,253 95,823

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 12,000 13,940
Hire purchase contracts 2,163 -
Trade creditors 21,939 17,331
Taxation and social security 61,773 37,862
Other creditors 11,381 8,223
109,256 77,356

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 17,000 29,000
Hire purchase contracts 7,746 -
24,746 29,000

MAGIC WORDS THERAPY LIMITED (REGISTERED NUMBER: 08725676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
200 Ordinary 1 200 200