Company Registration No. 11535652 (England and Wales)
Magdalen Sutton Ltd
Unaudited accounts
for the year ended 30 June 2024
Magdalen Sutton Ltd
Unaudited accounts
Contents
Magdalen Sutton Ltd
Company Information
for the year ended 30 June 2024
Company Number
11535652 (England and Wales)
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Magdalen Sutton Ltd
for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Magdalen Sutton Ltd for the year ended
30 June 2024 as set out on pages
5 -
7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Chartered Certified Accountants
31 March 2025
Magdalen Sutton Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
54,980
60,490
Cash at bank and in hand
173,872
676,660
Creditors: amounts falling due within one year
535,913
66,698
Net current assets
881,743
915,316
Total assets less current liabilities
936,723
975,806
Creditors: amounts falling due after more than one year
(225,817)
(309,818)
Provisions for liabilities
Deferred tax
(3,326)
(10,420)
Net assets
707,580
655,568
Called up share capital
10
10
Profit and loss account
707,570
655,558
Shareholders' funds
707,580
655,568
For the year ending 30 June 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 director acknowledges his 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 and authorised for issue on 31 March 2025 and were signed on its behalf by
Tallat Mukhtar
Director
Company Registration No. 11535652
Magdalen Sutton Ltd
Notes to the Accounts
for the year ended 30 June 2024
Magdalen Sutton Ltd is a private company, limited by shares, registered in England and Wales, registration number 11535652.
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 as modified by the revaluation of certain fixed assets.
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:
Other tangible fixed assets
25%
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
86,590
30,929
31,820
149,339
Additions
-
-
34,554
34,554
At 30 June 2024
86,590
30,929
66,374
183,893
At 1 July 2023
66,386
10,954
11,509
88,849
Charge for the year
17,318
7,732
15,014
40,064
At 30 June 2024
83,704
18,686
26,523
128,913
At 30 June 2024
2,886
12,243
39,851
54,980
At 30 June 2023
20,204
19,975
20,311
60,490
Magdalen Sutton Ltd
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Other debtors
171,958
171,958
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
102,769
Taxes and social security
31,769
340,039
Loans from directors
(570,646)
(509,506)
7
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
174,486
258,487
Other creditors
32,055
32,055
Director received an interest free loan of £560,646 during the year, which will be paid back to the company within 9 months of the year end.
9
Average number of employees
During the year the average number of employees was 28 (2023: 28).