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Company Registration No. 12484846 (England and Wales)
MAGNOLIA BEAUTY&BEYOND LTD Unaudited accounts for the year ended 31 March 2024
MAGNOLIA BEAUTY&BEYOND LTD Unaudited accounts Contents
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MAGNOLIA BEAUTY&BEYOND LTD Company Information for the year ended 31 March 2024
Director
FARKAS MATE
Company Number
12484846 (England and Wales)
Registered Office
301 Aylsham Road Norwich NR3 2RY United United
Accountants
ATF TAX CONSULTANCY LTD Sackville Place 44-48 Magdalen Steet Norwich Norfolk NR3 1JU
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MAGNOLIA BEAUTY&BEYOND LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
906 
1,837 
Current assets
Inventories
500 
800 
Debtors
190 
- 
Cash at bank and in hand
10,412 
9,781 
11,102 
10,581 
Creditors: amounts falling due within one year
(4,928)
(3,345)
Net current assets
6,174 
7,236 
Total assets less current liabilities
7,080 
9,073 
Creditors: amounts falling due after more than one year
(3,724)
(5,313)
Net assets
3,356 
3,760 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
3,355 
3,759 
Shareholders' funds
3,356 
3,760 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 November 2024 and were signed on its behalf by
FARKAS MATE Director Company Registration No. 12484846
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MAGNOLIA BEAUTY&BEYOND LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
MAGNOLIA BEAUTY&BEYOND LTD is a private company, limited by shares, registered in England and Wales, registration number 12484846. The registered office is 301 Aylsham Road, Norwich, NR3 2RY, United United.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
4 years straight line basis
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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MAGNOLIA BEAUTY&BEYOND LTD Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2023
4,892 
Additions
389 
At 31 March 2024
5,281 
Depreciation
At 1 April 2023
3,055 
Charge for the year
1,320 
At 31 March 2024
4,375 
Net book value
At 31 March 2024
906 
At 31 March 2023
1,837 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
190 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
358 
498 
Loans from directors
4,570 
2,847 
4,928 
3,345 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
3,724 
5,313 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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