Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseHolding company99falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10302369 2023-12-18 10302369 2023-04-01 2023-12-18 10302369 2022-04-01 2023-03-31 10302369 2023-03-31 10302369 c:Director9 2023-04-01 2023-12-18 10302369 d:FreeholdInvestmentProperty 2023-04-01 2023-12-18 10302369 d:FreeholdInvestmentProperty 2023-12-18 10302369 d:FreeholdInvestmentProperty 2023-03-31 10302369 d:CurrentFinancialInstruments 2023-12-18 10302369 d:CurrentFinancialInstruments 2023-03-31 10302369 d:Non-currentFinancialInstruments 2023-12-18 10302369 d:Non-currentFinancialInstruments 2023-03-31 10302369 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-18 10302369 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10302369 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-18 10302369 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10302369 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-18 10302369 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10302369 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-18 10302369 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10302369 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-18 10302369 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 10302369 d:ShareCapital 2023-12-18 10302369 d:ShareCapital 2023-03-31 10302369 d:SharePremium 2023-12-18 10302369 d:SharePremium 2023-03-31 10302369 d:CapitalRedemptionReserve 2023-12-18 10302369 d:CapitalRedemptionReserve 2023-03-31 10302369 d:RetainedEarningsAccumulatedLosses 2023-12-18 10302369 d:RetainedEarningsAccumulatedLosses 2023-03-31 10302369 c:FRS102 2023-04-01 2023-12-18 10302369 c:AuditExempt-NoAccountantsReport 2023-04-01 2023-12-18 10302369 c:FullAccounts 2023-04-01 2023-12-18 10302369 c:PrivateLimitedCompanyLtd 2023-04-01 2023-12-18 10302369 2 2023-04-01 2023-12-18 10302369 6 2023-04-01 2023-12-18 10302369 e:PoundSterling 2023-04-01 2023-12-18 iso4217:GBP xbrli:pure
Registered number: 10302369













          Magma Partners Holdings Limited
          Unaudited
          Financial statements
          For the 9 Month period Ended 18 December 2023















           img1f4c.png

 
Magma Partners Holdings Limited
Registered number:10302369

Balance Sheet
As at 18 December 2023

18 December
31 March
2023
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,455,095
1,559,095

Investment property
 5 
-
99,584

  
1,455,095
1,658,679

Current assets
  

Debtors: amounts falling due within one year
 6 
-
555,913

Cash at bank and in hand
 7 
960,400
100,656

  
960,400
656,569

Creditors: amounts falling due within one year
 8 
(486,195)
(23,500)

Net current assets
  
 
 
474,205
 
 
633,069

Total assets less current liabilities
  
1,929,300
2,291,748

Creditors: amounts falling due after more than one year
 9 
-
(305,584)

  

Net assets
  
1,929,300
1,986,164


Capital and reserves
  

Called up share capital 
  
8
84

Share premium account
  
407,999
407,999

Capital redemption reserve
  
92
16

Profit and loss account
  
1,521,201
1,578,065

  
1,929,300
1,986,164


Page 1

 
Magma Partners Holdings Limited
Registered number:10302369
    
Balance Sheet (continued)
As at 18 December 2023

The directors consider 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 9 Month period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 on 28 August 2024.




___________________________
M A Tuckwell
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
Magma Partners Holdings Limited
 
 
Notes to the Financial Statements
For the 9 Month period Ended 18 December 2023

1.


General information

Magma Partners Holdings Limited ('the company') is a private company limited by shares, incorporated in the United Kingdom in England and Wales under the Companies Act. The address of the registered office is given on the company information page. The nature of the company's operations and its principal activities is that of  a holding company.

2.Accounting policies

 
2.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the 9 Month period in which they are incurred.

Page 3

 
Magma Partners Holdings Limited
 
 
Notes to the Financial Statements
For the 9 Month period Ended 18 December 2023

2.Accounting policies (continued)

 
2.5

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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
Magma Partners Holdings Limited
 
 
Notes to the Financial Statements
For the 9 Month period Ended 18 December 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the 9 Month period was 9 (2023 - 9).


4.


Fixed asset investments








Investments in subsidiary companies

£



Cost


At 1 April 2023
1,559,095


Disposals
(104,000)



At 18 December 2023
1,455,095




Page 5

 
Magma Partners Holdings Limited
 
 
Notes to the Financial Statements
For the 9 Month period Ended 18 December 2023

5.


Investment property





Freehold investment property

£





At 1 April 2023
99,584


Disposals
(99,584)



At 18 December 2023
-

The 2023 valuations were made by the directors of the company, on an open market value for existing use basis.





6.


Debtors

18 December
31 March
2023
2023
£
£


Amounts owed by group undertakings
-
555,913

-
555,913


Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


7.


Cash and cash equivalents

18 December
31 March
2023
2023
£
£

Cash at bank and in hand
960,400
100,656

960,400
100,656


Page 6

 
Magma Partners Holdings Limited
 
 
Notes to the Financial Statements
For the 9 Month period Ended 18 December 2023

8.


Creditors: Amounts falling due within one year

18 December
31 March
2023
2023
£
£

Bank loans
-
23,500

Amounts owed to group undertakings
469,599
-

Corporation tax
4,508
-

Other taxation and social security
12,088
-

486,195
23,500


Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


9.


Creditors: Amounts falling due after more than one year

18 December
31 March
2023
2023
£
£

Bank loans
-
305,584

-
305,584


Page 7

 
Magma Partners Holdings Limited
 
 
Notes to the Financial Statements
For the 9 Month period Ended 18 December 2023

10.


Loans


Analysis of the maturity of loans is given below:


18 December
31 March
2023
2023
£
£

Amounts falling due within one year

Bank loans
-
23,500


-
23,500

Amounts falling due 1-2 years

Bank loans
-
23,500


-
23,500

Amounts falling due 2-5 years

Bank loans
-
70,500


-
70,500

Amounts falling due after more than 5 years

Bank loans
-
211,584

-
211,584

-
329,084


Page 8

 
Magma Partners Holdings Limited
 
 
Notes to the Financial Statements
For the 9 Month period Ended 18 December 2023

11.

Controlling Party

At 18 December 2023, the immediate parent undertaking is Magma Partners Group Limited, a company incorporated in United Kingdom and registered in England and Wales. Copies of the financial statements for Magma Partners Group Limited can be obtained from its registered office, 2 Chamberlain Square. Paradise Circus, Birmingham,
B3 3AX.
At 18 December 2023, the ultimate parent undertaking is Magma Partners Group Limited, a company incorporated in United Kingdom and registered in England and Wales.
At 18 December 2023, the Directors considered there to be no ultimate controlling party.


 
Page 9