2023-04-012024-03-312024-03-31false08504704INKY MAGPIE CO 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INKY MAGPIE CO LTD

Registered Number
08504704
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

INKY MAGPIE CO LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

ROHAN, Jason

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

08504704 (England and Wales)
INKY MAGPIE CO LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33451
3451
Current assets
Cash at bank and on hand26,67636,103
26,67636,103
Creditors amounts falling due within one year4(7,734)(16,198)
Net current assets (liabilities)18,94219,905
Total assets less current liabilities18,97619,956
Net assets18,97619,956
Capital and reserves
Called up share capital100100
Profit and loss account18,87619,856
Shareholders' funds18,97619,956
The financial statements were approved and authorised for issue by the Director on 14 October 2024, and are signed on its behalf by:
ROHAN, Jason
Director
Registered Company No. 08504704
INKY MAGPIE CO LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment33
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 23684684
At 31 March 24684684
Depreciation and impairment
At 01 April 23633633
Charge for year1717
At 31 March 24650650
Net book value
At 31 March 243434
At 31 March 235151
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security-272
Other creditors7,01415,026
Accrued liabilities and deferred income720900
Total7,73416,198
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Directors advances, credits and guarantees
Included in other creditors is an amount of £7,014(2023: £15,026) relates to the directors' loan account Mr. J Rohan.