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REGISTERED NUMBER: 08782387 (England and Wales)















Magical Events Limited

Unaudited Financial Statements

For The Year Ended

31st December 2024






Magical Events Limited (Registered number: 08782387)

Contents of the Financial Statements
For The Year Ended 31st December 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 5


Magical Events Limited (Registered number: 08782387)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 223,772 232,185

CURRENT ASSETS
Stocks 1,800 1,800
Debtors 5 61,942 4,206
Cash at bank and in hand 13,724 40,680
77,466 46,686
CREDITORS
Amounts falling due within one year 6 174,427 128,794
NET CURRENT LIABILITIES (96,961 ) (82,108 )
TOTAL ASSETS LESS CURRENT LIABILITIES 126,811 150,077

CREDITORS
Amounts falling due after more than one year 7 (81,169 ) (92,163 )

PROVISIONS FOR LIABILITIES (32,322 ) (29,542 )
NET ASSETS 13,320 28,372

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 13,220 28,272
SHAREHOLDERS' FUNDS 13,320 28,372

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 Board of Directors and authorised for issue on 16th July 2025 and were signed on its behalf by:




M Mazurek - Director



Mrs L Mazurek - Director


Magical Events Limited (Registered number: 08782387)

Notes to the Financial Statements
For The Year Ended 31st December 2024


1. STATUTORY INFORMATION

Magical Events Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08782387

Registered office: 2 Gooches Cottages
Mowles Road Etling Green
Dereham
Norfolk
NR20 3HA

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


2. ACCOUNTING POLICIES

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

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 20% on cost
Giant Hat Tipis & Bell Tents - 25%-33% straight line & reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Magical Events Limited (Registered number: 08782387)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Giant Hat
Tipis & Fixtures
Freehold Bell and
property Tents fittings
£    £    £   
COST
At 1st January 2024 51,915 243,688 104,731
Additions - - 4,257
Disposals - - -
At 31st December 2024 51,915 243,688 108,988
DEPRECIATION
At 1st January 2024 51,915 155,404 80,562
Charge for year - 17,661 5,286
Eliminated on disposal - - -
At 31st December 2024 51,915 173,065 85,848
NET BOOK VALUE
At 31st December 2024 - 70,623 23,140
At 31st December 2023 - 88,284 24,169

Magical Events Limited (Registered number: 08782387)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2024 268,742 11,515 680,591
Additions 79,635 - 83,892
Disposals (85,250 ) - (85,250 )
At 31st December 2024 263,127 11,515 679,233
DEPRECIATION
At 1st January 2024 149,895 10,630 448,406
Charge for year 31,740 654 55,341
Eliminated on disposal (48,286 ) - (48,286 )
At 31st December 2024 133,349 11,284 455,461
NET BOOK VALUE
At 31st December 2024 129,778 231 223,772
At 31st December 2023 118,847 885 232,185

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 71,594
At 31st December 2024 71,594
DEPRECIATION
Charge for year 1,492
At 31st December 2024 1,492
NET BOOK VALUE
At 31st December 2024 70,102

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,598 4,206
Other debtors 1,344 -
61,942 4,206

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,000 20,000
Hire purchase contracts 19,379 21,399
Taxation and social security 5,052 7,067
Other creditors 129,996 80,328
174,427 128,794

Magical Events Limited (Registered number: 08782387)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 8,333 28,333
Hire purchase contracts 72,836 63,830
81,169 92,163

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary o1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2024 and 31st December 2023:

2024 2023
£    £   
M Mazurek
Balance outstanding at start of year - 3,499
Amounts repaid - (3,499 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs L Mazurek
Balance outstanding at start of year - 3,499
Amounts repaid - (3,499 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -