Registered number
14522870
Maguire Park Management Ltd
Report and Accounts
31 January 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Maguire Park Management Ltd
Registered number: 14522870
Balance Sheet
as at 31 January 2024
Notes 2024
£
Fixed assets
Tangible assets 3 4,722,135
Current assets
Stocks 1,000
Debtors 4 198
Cash at bank and in hand 15,577
16,775
Creditors: amounts falling due within one year 5 (671,067)
Net current liabilities (654,292)
Total assets less current liabilities 4,067,843
Creditors: amounts falling due after more than one year 6 (4,046,821)
Net assets 21,022
Capital and reserves
Called up share capital 2
Profit and loss account 21,020
Shareholders' funds 21,022
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
WTB Maguire
Director
Approved by the board on 24 October 2024
Maguire Park Management Ltd
Notes to the Accounts
for the period from 5 December 2022 to 31 January 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.
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. 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.
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:
Freehold buildings nil
Plant and machinery 15 % reducing balance
Motor vehciles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
Additions 4,711,790 546 13,176 4,725,512
At 31 January 2024 4,711,790 546 13,176 4,725,512
Depreciation
Charge for the period - 83 3,294 3,377
At 31 January 2024 - 83 3,294 3,377
Net book value
At 31 January 2024 4,711,790 463 9,882 4,722,135
4 Debtors 2024
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest 198
5 Creditors: amounts falling due within one year 2024
£
Bank loans and overdrafts 69,932
Amounts owed to group undertakings and undertakings in which the company has a participating interest 474,160
Corporation tax 25,695
Other creditors 101,280
671,067
6 Creditors: amounts falling due after one year 2024
£
Bank loans 608,552
Other creditors 3,438,269
4,046,821
7 Related party transactions
There are no related party transactions.
8 Controlling party
The company is controlled by its directors who are the shareholders.
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