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Registered number: 11557185
Magic Box Toys UK Limited
Financial Statements
For The Year Ended 30 June 2024
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 11557185
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,615 2,696
1,615 2,696
CURRENT ASSETS
Stocks 5 5,775,650 1,945,591
Debtors 6 498,117 4,614,966
Cash at bank and in hand 266,009 230,803
6,539,776 6,791,360
Creditors: Amounts Falling Due Within One Year 7 (11,174,871 ) (11,661,794 )
NET CURRENT ASSETS (LIABILITIES) (4,635,095 ) (4,870,434 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,633,480 ) (4,867,738 )
NET LIABILITIES (4,633,480 ) (4,867,738 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account (4,634,480 ) (4,868,738 )
SHAREHOLDERS' FUNDS (4,633,480) (4,867,738)
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Bella-Martorell
Director
30/06/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Magic Box Toys UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11557185 . The registered office is 4b Gatwick House,, Peeks Brook Lane,, Horley, Surrey, RH6 9ST.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Equipment 25% SLM
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Office Equipment
£
Cost
As at 1 July 2023 4,325
As at 30 June 2024 4,325
Depreciation
As at 1 July 2023 1,629
Provided during the period 1,081
As at 30 June 2024 2,710
Net Book Value
As at 30 June 2024 1,615
As at 1 July 2023 2,696
Page 2
Page 3
5. Stocks
2024 2023
£ £
Finished goods 5,775,650 1,945,591
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 308,660 3,884,366
Other debtors 1,000 1,000
Magic Box Int. Toys 31,080 729,600
VAT 157,377 -
498,117 4,614,966
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,062,106 11,566,891
Loan Payable 92,149 -
Other taxes and social security 6,181 6,040
VAT - 82,285
Pension Payable 5,485 6,578
Accruals 8,950 -
11,174,871 11,661,794
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Related Party Transactions
The ultimate parent company is Magic Box Int.Toys, a company incorporated in Spain.
During the year, the company render services amounting to £1,423,846 (2023:£4,431,281) to Magic Box Int.Toys SLU, a company incorporated in Spain. The total amount outstanding as at 30th June 2024 is £0.00 (2023 : £2,516,496 ) are included in trade debtors note no. 6 above.
During the year company has given additional loan of £ 698,521 from Magic Box Int. which has closing balance of £ 31,080 (2023 : £729,600) and is included in Note 6.
During the year, the company made purchases amounting to £3,191,754 (2023:£3,632,450) from Magic Box Int.Toys SLU, a company incorporated in Spain. The total amount outstanding as at 30th June 2024 is £10,543,794 (2023 : £11,313,852) are included in trade creditors note no. 7 above.
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr David Bella-Martorell. by virtue of his ownership of 75% or more of the issued share capital in the company.
Page 3
Page 4
11. Audit Information
The auditor's report on the accounts of Magic Box Toys UK Limited for the year ended 30 June 2024 was unqualified.
The auditor's report was signed by Mohammad Jilani (Senior Statutory Auditor) for and on behalf of Pearlman Rose , Statutory Auditor.
Pearlman Rose
Suite 1, First Floor
Jack Dash House, 2 Lawn House Close
London
E14 9YQ
Page 4