REGISTERED NUMBER: |
Director's Report and |
Unaudited Financial Statements for the Year Ended 31st December 2023 |
for |
Magical Numbers UK Limited |
REGISTERED NUMBER: |
Director's Report and |
Unaudited Financial Statements for the Year Ended 31st December 2023 |
for |
Magical Numbers UK Limited |
Magical Numbers UK Limited (Registered number: 08507184) |
Contents of the Financial Statements |
for the year ended 31st December 2023 |
Page |
Company Information | 1 |
Director's Report | 2 |
Statement of Income and Retained Earnings | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 5 |
Magical Numbers UK Limited |
Company Information |
for the year ended 31st December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Magical Numbers UK Limited (Registered number: 08507184) |
Director's Report |
for the year ended 31st December 2023 |
The director presents his report with the financial statements of the company for the year ended 31st December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of investment holding. |
DIRECTOR |
GOING CONCERN |
The financial statements have been prepared on the going concern basis even though the company has net liabilities, as financial support has been provided by the ultimate parent company, Magical Numbers Limited, and they have confirmed that this support will be available for at least twelve months from the date of approval of the financial statements. |
Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
APPROVED AND SIGNED ON BEHALF OF THE BOARD: |
Magical Numbers UK Limited (Registered number: 08507184) |
Statement of Income and |
Retained Earnings |
for the year ended 31st December 2023 |
2023 | 2022 |
£ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
OPERATING LOSS | ( |
) | ( |
) |
Interest receivable and similar income |
(5,188 | ) | (9,497 | ) |
Interest payable and similar expenses | ( |
) | ( |
) |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
Retained earnings at beginning of year | ( |
) | ( |
) |
RETAINED EARNINGS AT END OF YEAR |
( |
) |
( |
) |
Magical Numbers UK Limited (Registered number: 08507184) |
Statement of Financial Position |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 were approved by the director and authorised for issue on |
Magical Numbers UK Limited (Registered number: 08507184) |
Notes to the Financial Statements |
for the year ended 31st December 2023 |
1. | STATUTORY INFORMATION |
Magical Numbers UK Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on the going concern basis even though the company has net liabilities, as financial support has been provided by the ultimate parent company, Magical Numbers Limited, and they have confirmed that this support will be available for at least twelve months from the date of approval of the financial statements. |
Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Magical Numbers UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Financial assets |
Financial assets including trade debtors, are initially recognised at transaction cost which is considered to be fair value and subsequently held at amortised cost. At each statement of financial position date, the company assesses whether there is objective evidence that a financial asset has become impaired. Impairment losses are recorded as charges in the income statement and the carrying amount of the financial asset is reduced by establishing an impairment loss provision. Impairment loss provisions are maintained at the level that management deems sufficient to absorb incurred losses. Financial assets are subsequently carried at transaction cost less provision for impairment. |
Financial liabilities |
Financial liabilities are presented as such in the statement of financial position. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Finance costs and gains or losses relating to financial liabilities are included in the income statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Dividends and distributions relating to equity instruments are debited directly to equity. |
Magical Numbers UK Limited (Registered number: 08507184) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | ULTIMATE CONTROLLING PARTY |
The controlling party is Ms L F Strawson. |
The company's immediate and ultimate parent company is |
Consolidated financial statements are not prepared as the group qualifies for the small group exemption from |
preparing group accounts. |
The registered office is located at: |
PO Box 141, |
La Tonnelle House, |
Les Banques, |
St Sampson, |
Guernsey, |
GY1 3HS |