Registered number
08490639
Magic Me There Limited
Filleted Accounts
31 March 2024
Magic Me There Limited
Registered number: 08490639
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,649 11,980
Current assets
Debtors 4 12,030 13,122
Cash at bank and in hand 13,831 17,177
25,861 30,299
Creditors: amounts falling due within one year 5 (14,952) (10,003)
Net current assets 10,909 20,296
Total assets less current liabilities 21,558 32,276
Creditors: amounts falling due after more than one year 6 (21,062) (30,752)
Net assets 496 1,524
Capital and reserves
Called up share capital 200 200
Profit and loss account 296 1,324
Shareholder's funds 496 1,524
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Muncey
Director
Approved by the board on 16 September 2024
Magic Me There Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office building over 10 years
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as it is not material
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 13,309 4,025 17,334
At 31 March 2024 13,309 4,025 17,334
Depreciation
At 1 April 2023 1,331 4,023 5,354
Charge for the year 1,331 - 1,331
At 31 March 2024 2,662 4,023 6,685
Net book value
At 31 March 2024 10,647 2 10,649
At 31 March 2023 11,978 2 11,980
4 Debtors 2024 2023
£ £
Other debtors 12,030 13,122
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Taxation and social security costs 8,952 4,003
Other creditors 1,000 1,000
14,952 10,003
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,062 30,752
7 Other information
Magic Me There Limited is a private company limited by shares and incorporated in England. Its registered office is:
Central House
124 High Street
Hampton Hill
Middlesex
TW12 1 NS
Central House
124 High Street
Hampton Hill
Middlesex
TW12 1NS
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