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REGISTERED NUMBER: 13550140 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Magic of Play Limited

Magic of Play Limited (Registered number: 13550140)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Magic of Play Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mrs K Atkinson





REGISTERED OFFICE: 254 Franklin Road
Birmingham
West Midlands
B30 2EJ





REGISTERED NUMBER: 13550140 (England and Wales)





ACCOUNTANTS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT

Magic of Play Limited (Registered number: 13550140)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4,000 6,000
Property, plant and equipment 6 1,873 864
5,873 6,864

CURRENT ASSETS
Debtors 7 32,730 6,179
Cash at bank 140,142 60,209
172,872 66,388
CREDITORS
Amounts falling due within one
year

8

163,874

55,459
NET CURRENT ASSETS 8,998 10,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,871

17,793

PROVISIONS FOR LIABILITIES 356 164
NET ASSETS 14,515 17,629

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 14,415 17,529
SHAREHOLDERS' FUNDS 14,515 17,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Magic of Play Limited (Registered number: 13550140)

Balance Sheet - continued
31 August 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 March 2025 and were signed by:





Mrs K Atkinson - Director


Magic of Play Limited (Registered number: 13550140)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Magic of Play Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Magic of Play Limited (Registered number: 13550140)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Loans from directors
As a small entity the company measures a basic financial liability that are loans from directors at transaction price.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 10,000
AMORTISATION
At 1 September 2023 4,000
Charge for year 2,000
At 31 August 2024 6,000
NET BOOK VALUE
At 31 August 2024 4,000
At 31 August 2023 6,000

This represents a 5 year franchise agreement ending in August 2026.

Magic of Play Limited (Registered number: 13550140)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 September 2023 891 349 1,240
Additions 1,256 - 1,256
At 31 August 2024 2,147 349 2,496
DEPRECIATION
At 1 September 2023 356 20 376
Charge for year 178 69 247
At 31 August 2024 534 89 623
NET BOOK VALUE
At 31 August 2024 1,613 260 1,873
At 31 August 2023 535 329 864

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 13,920 6,179
Prepayments and accrued income 18,810 -
32,730 6,179

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Tax 7,985 6,218
Social security and other
taxes

6,368

2,210
Other creditors - 100
Directors' current accounts 15,683 455
Accruals and deferred income 133,838 46,476
163,874 55,459

9. LEASING AGREEMENTS

Total future minimum lease payments under non cancellable operating leases fall due is £170.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

11. CAPITAL COMMITMENTS
31.8.24 31.8.23
£    £   
Contracted but not provided for in the
financial statements - -

Magic of Play Limited (Registered number: 13550140)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

12. RELATED PARTY DISCLOSURES

Loans from key management are unsecured and interest free with no specific repayment terms.