Company Registration No. 12179889 (England and Wales)
MORTGAGE MAGICK LTD
Final accounts
for the year ended 31 August 2024
MORTGAGE MAGICK LTD
Final accounts
Contents
MORTGAGE MAGICK LTD
Company Information
for the year ended 31 August 2024
Directors
TANJIR SUGAR
MOONMOON FARZANA KALAM
Company Number
12179889 (England and Wales)
Registered Office
We Work - Mortgage Magick Ltd
1 St. Katharine's Way
London
E1W 1UN
England
Accountants
DKA Accounting Ltd.
East Wing, Castle House
Dawson Road
Milton Keynes
Buckinghamshire
MK1 1QT
MORTGAGE MAGICK LTD
Statement of financial position
as at 31 August 2024
Intangible assets
19,346,262
12,701,262
Tangible assets
61,548
63,140
Cash at bank and in hand
149,819
167,304
Creditors: amounts falling due within one year
930,473
330,987
Net current assets
1,878,829
880,972
Total assets less current liabilities
21,328,639
13,680,374
Creditors: amounts falling due after more than one year
(19,380,049)
(12,747,450)
Net assets
1,948,590
932,924
Called up share capital
10,000
10,000
Profit and loss account
1,938,590
922,924
Shareholders' funds
1,948,590
932,924
For the year ending 31 August 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 12 March 2025 and were signed on its behalf by
TANJIR SUGAR
Director
Company Registration No. 12179889
MORTGAGE MAGICK LTD
Notes to the Accounts
for the year ended 31 August 2024
MORTGAGE MAGICK LTD is a private company, limited by shares, registered in England and Wales, registration number 12179889. The registered office is We Work - Mortgage Magick Ltd, 1 St. Katharine's Way, London, E1W 1UN, England.
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.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the
acquisition date.
Research expenditure is written off in the year in which it is incurred.
Development expenditure incurred is capitalised as an intangible asset only when all of the following
criteria are met:
It is technically feasible to complete the intangible asset so that it will be available for use or sale;
There is the intention to complete the intangible asset and use or sell it;
There is the ability to use or sell the intangible asset;
The use or sale of the intangible asset will generate probable future economic benefits;
There are adequate technical, financial and other resources available to complete the development
and to use or sell the intangible asset; and
The expenditure attributable to the intangible asset during its development can be measured reliably.
Expenditure that does not meet the above criteria is expensed as incurred
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:
Motor vehicles
Reducing balance method - 25%
Computer equipment
Straight line method - 25%
MORTGAGE MAGICK LTD
Notes to the Accounts
for the year ended 31 August 2024
4
Intangible fixed assets
Other
At 1 September 2023
12,701,262
At 31 August 2024
19,346,262
At 31 August 2024
19,346,262
At 31 August 2023
12,701,262
Error of classification corrected. Disposal 2021 (-429215), 2022 (£429,215)
5
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2023
74,479
10,031
84,510
At 31 August 2024
74,479
31,113
105,592
At 1 September 2023
14,896
6,474
21,370
Charge for the year
14,896
7,778
22,674
At 31 August 2024
29,792
14,252
44,044
At 31 August 2024
44,687
16,861
61,548
At 31 August 2023
59,583
3,557
63,140
6
Investments
Other investments
Valuation at 1 September 2023
35,000
Valuation at 31 August 2024
42,000
MORTGAGE MAGICK LTD
Notes to the Accounts
for the year ended 31 August 2024
Amounts falling due within one year
Trade debtors
579,226
230,790
Other debtors
215,938
143,450
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
94,167
88,407
Taxes and social security
(1,119,975)
(537,834)
Loans from directors
94,560
109,488
9
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
19,343,579
12,703,179
Allotted, called up and fully paid:
10,000 Ordinary shares of £1 each
10,000
10,000
11
Average number of employees
During the year the average number of employees was 4 (2023: 4).