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REGISTERED NUMBER: 12811758 (England and Wales)





















MAGAZINE HEAVEN DIRECT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MAGAZINE HEAVEN DIRECT LIMITED (REGISTERED NUMBER: 12811758)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


MAGAZINE HEAVEN DIRECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S R Hobbs
Mrs H C Hobbs
W R Palmer
Mrs T M Palmer





SECRETARY: S R Hobbs





REGISTERED OFFICE: 22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ





REGISTERED NUMBER: 12811758 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

MAGAZINE HEAVEN DIRECT LIMITED (REGISTERED NUMBER: 12811758)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,000 8,000
Tangible assets 5 1,121 1,496
9,121 9,496

CURRENT ASSETS
Debtors 6 86,918 91,061
Cash at bank 206,006 241,999
292,924 333,060
CREDITORS
Amounts falling due within one year 7 290,340 294,157
NET CURRENT ASSETS 2,584 38,903
TOTAL ASSETS LESS CURRENT LIABILITIES 11,705 48,399

PROVISIONS FOR LIABILITIES 280 284
NET ASSETS 11,425 48,115

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 11,421 48,111
SHAREHOLDERS' FUNDS 11,425 48,115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MAGAZINE HEAVEN DIRECT LIMITED (REGISTERED NUMBER: 12811758)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





W R Palmer - Director


MAGAZINE HEAVEN DIRECT LIMITED (REGISTERED NUMBER: 12811758)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Magazine Heaven Direct 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

MAGAZINE HEAVEN DIRECT LIMITED (REGISTERED NUMBER: 12811758)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 8,000
NET BOOK VALUE
At 31 March 2024 8,000
At 31 March 2023 8,000

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 1,995
DEPRECIATION
At 1 April 2023 499
Charge for year 375
At 31 March 2024 874
NET BOOK VALUE
At 31 March 2024 1,121
At 31 March 2023 1,496

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,836 14,027
Amounts owed by associates 51,664 44,199
Other debtors 11,418 32,835
86,918 91,061

MAGAZINE HEAVEN DIRECT LIMITED (REGISTERED NUMBER: 12811758)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,951 13,518
Amounts owed to associates - 26,307
Taxation and social security 23,362 18,940
Other creditors 260,027 235,392
290,340 294,157

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4