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Company Registration No. 06583207 (England and Wales)
No Magnolia Productions Limited Unaudited accounts for the year ended 31 May 2024
No Magnolia Productions Limited Unaudited accounts Contents
Page
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No Magnolia Productions Limited Company Information for the year ended 31 May 2024
Directors
Nicholas Hill Louise Aimes-Hill
Company Number
06583207 (England and Wales)
Registered Office
Suite 8, 57 High Street Ibstock Leicestershire LE67 6LH
Accountants
Lilley & Co (UK) Limited Suite 8 57 High Street Ibstock Leicestershire LE67 6LH
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No Magnolia Productions Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,797 
2,958 
Current assets
Debtors
31,204 
49,245 
Creditors: amounts falling due within one year
(33,311)
(40,336)
Net current (liabilities)/assets
(2,107)
8,909 
Total assets less current liabilities
690 
11,867 
Creditors: amounts falling due after more than one year
(7,658)
(12,722)
Net liabilities
(6,968)
(855)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(6,970)
(857)
Shareholders' funds
(6,968)
(855)
For the year ending 31 May 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 directors acknowledge their 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 of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by
Nicholas Hill Director Company Registration No. 06583207
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No Magnolia Productions Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
No Magnolia Productions Limited is a private company, limited by shares, registered in England and Wales, registration number 06583207. The registered office is Suite 8, 57 High Street, Ibstock, Leicestershire, LE67 6LH.
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
25% straight line
Computer equipment
25% straight line
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.
Going concern
The accounts have been prepared on a going concern basis which assumes the continuing support of the directors.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
379 
4,071 
4,450 
Additions
- 
537 
537 
At 31 May 2024
379 
4,608 
4,987 
Depreciation
At 1 June 2023
137 
1,355 
1,492 
Charge for the year
48 
650 
698 
At 31 May 2024
185 
2,005 
2,190 
Net book value
At 31 May 2024
194 
2,603 
2,797 
At 31 May 2023
242 
2,716 
2,958 
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No Magnolia Productions Limited Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,545 
14,548 
Accrued income and prepayments
675 
573 
Other debtors
29,984 
37,124 
34,204 
52,245 
Amounts falling due after more than one year
Other debtors
(3,000)
(3,000)
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
23,916 
27,830 
VAT
3,116 
6,301 
Trade creditors
- 
133 
Taxes and social security
2,004 
1,387 
Other creditors
2,590 
- 
Accruals
1,685 
1,685 
Deferred income
- 
3,000 
33,311 
40,336 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,658 
12,722 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Directors Loan
25,583 
- 
7,140 
18,443 
25,583 
- 
7,140 
18,443 
The loan is interest free and repayable on demand, and is included in other debtors.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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