Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue2023-04-011true 13271091 2023-04-01 2024-03-31 13271091 2022-04-01 2023-03-31 13271091 2024-03-31 13271091 2023-03-31 13271091 c:Director1 2023-04-01 2024-03-31 13271091 d:CurrentFinancialInstruments 2024-03-31 13271091 d:CurrentFinancialInstruments 2023-03-31 13271091 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13271091 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13271091 d:ShareCapital 2024-03-31 13271091 d:ShareCapital 2023-03-31 13271091 d:RetainedEarningsAccumulatedLosses 2024-03-31 13271091 d:RetainedEarningsAccumulatedLosses 2023-03-31 13271091 c:OrdinaryShareClass1 2023-04-01 2024-03-31 13271091 c:OrdinaryShareClass1 2024-03-31 13271091 c:FRS102 2023-04-01 2024-03-31 13271091 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13271091 c:FullAccounts 2023-04-01 2024-03-31 13271091 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13271091 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 13271091














MAGNEMA LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
MAGNEMA LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 5


 
MAGNEMA LIMITED
REGISTERED NUMBER:13271091

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
6,787
24,597

Cash at bank and in hand
 5 
23,177
13,054

  
29,964
37,651

Creditors: amounts falling due within one year
 6 
(90,051)
(59,232)

Net current liabilities
  
 
 
(60,087)
 
 
(21,581)

Total assets less current liabilities
  
(60,087)
(21,581)

  

Net liabilities
  
(60,087)
(21,581)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(60,187)
(21,681)

  
(60,087)
(21,581)


1

 
MAGNEMA LIMITED
REGISTERED NUMBER:13271091
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R S Vir
Director
 
Date: 
18 November 2024

The notes on pages 3 to 5 form part of these financial statements.

2

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

1.


General information

Magnema Limited is a private company, limited by shares, registered in England and Wales, registration number 13271091. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE and the trading address is 278 Latimer Road, London, W10 6QW.  

The company was incorporated on 16 March 2021 and commenced trading on 31 October 2022. 
 
The principal activity of the company continued to be that of a licensed restaurants.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the shareholder has confirmed they will continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the director is satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporate tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3

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

2.Accounting policies (continued)

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).


4.


Debtors

2024
2023
£
£


Other debtors
6,787
24,597



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
23,177
13,054



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
1,179

Other creditors
84,823
55,553

Accruals
5,228
2,500

90,051
59,232



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.0 each
100
100


4

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

8.


Related party transactions

Included within other creditors at the year end is a balance totalling £84,823 due to the director. The loan is interest free and repayable on demand.

 
5