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REGISTERED NUMBER: 03996083 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CONFETTI MAGIC LIMITED

CONFETTI MAGIC LIMITED (REGISTERED NUMBER: 03996083)






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


CONFETTI MAGIC LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: I D Woodroof





REGISTERED OFFICE: Unit 5
Executive Park
Hatfield Road
St. Albans
Hertfordshire
AL1 4TA





REGISTERED NUMBER: 03996083 (England and Wales)





ACCOUNTANTS: Lovetts Accountants Limited
Bridge House
25 Fiddlebridge Lane
Hatfield
Hertfordshire
AL10 0SP

CONFETTI MAGIC LIMITED (REGISTERED NUMBER: 03996083)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,252 29,332

CURRENT ASSETS
Stocks 58,207 47,431
Debtors 5 54,107 27,900
Cash at bank and in hand 192,749 158,255
305,063 233,586
CREDITORS
Amounts falling due within one year 6 77,849 70,215
NET CURRENT ASSETS 227,214 163,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,466

192,703

PROVISIONS FOR LIABILITIES 7,930 5,405
NET ASSETS 257,536 187,298

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 257,433 187,195
SHAREHOLDERS' FUNDS 257,536 187,298

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 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.

CONFETTI MAGIC LIMITED (REGISTERED NUMBER: 03996083)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2024 and were signed by:





I D Woodroof - Director


CONFETTI MAGIC LIMITED (REGISTERED NUMBER: 03996083)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Confetti Magic 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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Taxation
Taxation for the year 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 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.

CONFETTI MAGIC LIMITED (REGISTERED NUMBER: 03996083)

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 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 January 2023 - - 48,321
Additions 1,850 7,333 10,866
Disposals - - (7,770 )
At 31 December 2023 1,850 7,333 51,417
DEPRECIATION
At 1 January 2023 - - 20,909
Charge for year 248 860 8,117
Eliminated on disposal - - (5,013 )
At 31 December 2023 248 860 24,013
NET BOOK VALUE
At 31 December 2023 1,602 6,473 27,404
At 31 December 2022 - - 27,412

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 11,955 4,832 65,108
Additions - 1,450 21,499
Disposals - - (7,770 )
At 31 December 2023 11,955 6,282 78,837
DEPRECIATION
At 1 January 2023 11,482 3,385 35,776
Charge for year 118 479 9,822
Eliminated on disposal - - (5,013 )
At 31 December 2023 11,600 3,864 40,585
NET BOOK VALUE
At 31 December 2023 355 2,418 38,252
At 31 December 2022 473 1,447 29,332

CONFETTI MAGIC LIMITED (REGISTERED NUMBER: 03996083)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 31,156 25,524
Other debtors 22,951 2,376
54,107 27,900

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 10,290 12,819
Taxation and social security 52,904 36,548
Other creditors 14,655 20,848
77,849 70,215