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REGISTERED NUMBER: 00396777 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Majestic Amusements Enterprises Limited

Majestic Amusements Enterprises Limited (Registered number: 00396777)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Majestic Amusements Enterprises Limited (Registered number: 00396777)

Balance Sheet
30 September 2024

2024 2023
Notes £ £
Fixed assets
Investments 4 85,634 132,553

Current assets
Debtors 5 53 50,671
Cash at bank 1,207 12,093
1,260 62,764
Creditors
Amounts falling due within one year 6 (10,494 ) (52,598 )
Net current (liabilities)/assets (9,234 ) 10,166
Total assets less current liabilities 76,400 142,719

Creditors
Amounts falling due after more than one
year

7

(12,000

)

(18,441

)
Net assets 64,400 124,278

Capital and reserves
Called up share capital 1,500 1,500
Retained earnings 62,900 122,778
64,400 124,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Majestic Amusements Enterprises Limited (Registered number: 00396777)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:





Mr R Ghigi - Director


Majestic Amusements Enterprises Limited (Registered number: 00396777)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. 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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


Majestic Amusements Enterprises Limited (Registered number: 00396777)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Fixed asset investments
Other
investments
£
Cost or valuation
At 1 October 2023 132,553
Additions 1
Disposals (58,437 )
Revaluations 11,715
Reclassification/transfer (198 )
At 30 September 2024 85,634
Net book value
At 30 September 2024 85,634
At 30 September 2023 132,553

Cost or valuation at 30 September 2024 is represented by:

Other
investments
£
Valuation in 2024 85,634

5. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 53 50,671

Majestic Amusements Enterprises Limited (Registered number: 00396777)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 6,432 14,523
Trade creditors 35 -
Taxation and social security 617 -
Other creditors 3,410 38,075
10,494 52,598

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 6,441
Other creditors 12,000 12,000
12,000 18,441

Within other creditors is a balance of £12,000 (2023: £12,000) which represents preference share capital treated as debt. Redemption of the preference shares, wholly or in part, is at the option of the shareholder or company on three months notice to the preference shareholders, provided that the preference shares including all arrears of the preference dividend have been paid in full. The shares are redeemable at par together with all arrears of the preference dividend up to the date of redemption. There is no fixed date for redemption.