Company registration number 08858239 (England and Wales)
MAGIC BEANS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
MAGIC BEANS LIMITED
CONTENTS
Page
Accountants' report
1
Profit and loss account
2
Balance sheet and notes to the financial statements
3 - 4
Detailed profit and loss account
5
Detailed balance sheet
6
MAGIC BEANS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MAGIC BEANS LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Magic Beans Limited for the year ended 30 April 2024, which comprise the profit and loss account and the balance sheet, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Magic Beans Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Magic Beans Limited and state those matters that we have agreed to state to the board of directors of Magic Beans Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Magic Beans Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Magic Beans Limited has kept adequate accounting records and to prepare statutory financial statements that comply with the requirements of the Companies Act 2006. You consider that Magic Beans Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Magic Beans Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Cottons Accountants LLP
Chartered Accountants
Chestnut Field House
Chestnut Field
Rugby
Warwickshire
CV21 2PD
United Kingdom
14 January 2025
MAGIC BEANS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2024
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2024
2023
£
£
Turnover
98,452
60,913
Other income
573
1,058
Staff costs
(9,096)
(9,866)
Depreciation and other amounts written off assets
(7,980)
(1,383)
Other charges
(5,618)
(4,090)
Tax
(18,197)
(2,430)
Profit
58,134
44,202
MAGIC BEANS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
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2024
2023
£
£
£
£
Fixed assets
31,332
37,820
Current assets
230,278
66,066
Creditors: amounts falling due within one year
(137,441)
(15,835)
Net current assets
92,837
50,231
Total assets less current liabilities
124,169
88,051
Creditors: amounts falling due after more than one year
(24,503)
(29,519)
Net assets
99,666
58,532
Capital and reserves
99,666
58,532
Notes to the financial statements
1
Director's benefits; advances, credits and guarantees
There were no Director's advances as at 30 April 2024 (2023: £25,484 to each Director).
2
Employees
The average number of persons, including directors, employed by the company during the year was as follows:
2024
2023
Number
Number
Employees
1
1
Magic Beans Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chestnut Field House, Chestnut Field, Rugby, Warwickshire, United Kingdom, CV21 2PD.
For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and the provisions applicable to companies subject to the small companies regime.
MAGIC BEANS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
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The financial statements were approved by the board of directors and authorised for issue on 14 January 2025 and are signed on its behalf by:
Mr JE Lloyd
Mrs CJ C Lloyd
Director
Director
Company registration number 08858239 (England and Wales)