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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
Page
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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
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MORTGAGE MAGICK LTD Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
19,346,262 
12,701,262 
Tangible assets
61,548 
63,140 
Investments
42,000 
35,000 
19,449,810 
12,799,402 
Current assets
Debtors
798,537 
382,681 
Cash at bank and in hand
149,819 
167,304 
948,356 
549,985 
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 
Capital and reserves
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
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MORTGAGE MAGICK LTD Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
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.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
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 and development
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%
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MORTGAGE MAGICK LTD Notes to the Accounts for the year ended 31 August 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 September 2023
12,701,262 
Additions
6,645,000 
At 31 August 2024
19,346,262 
Amortisation
At 1 September 2023
- 
At 31 August 2024
- 
Net book value
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 
Additions
- 
21,082 
21,082 
At 31 August 2024
74,479 
31,113 
105,592 
Depreciation
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 
Net book value
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 
Additions
7,000 
Valuation at 31 August 2024
42,000 
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MORTGAGE MAGICK LTD Notes to the Accounts for the year ended 31 August 2024
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,373 
8,441 
Trade debtors
579,226 
230,790 
Other debtors
215,938 
143,450 
798,537 
382,681 
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)
Other creditors
775 
8,952 
Loans from directors
94,560 
109,488 
(930,473)
(330,987)
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
36,470 
44,271 
Other creditors
19,343,579 
12,703,179 
19,380,049 
12,747,450 
10
Share capital
2024 
2023 
£ 
£ 
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).
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