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REGISTERED NUMBER: 08750769 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MAGNOLIA LETTINGS LIMITED

MAGNOLIA LETTINGS LIMITED (REGISTERED NUMBER: 08750769)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MAGNOLIA LETTINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Ms S Patel
Mr R W J Zijlstra





REGISTERED OFFICE: Hunters
Howbourne Lane
Buxted
Uckfield
East Sussex
TN22 4QD





REGISTERED NUMBER: 08750769 (England and Wales)





ACCOUNTANTS: Galloways Accounting Limited
15 West Street
Brighton
East Sussex
BN1 2RL

MAGNOLIA LETTINGS LIMITED (REGISTERED NUMBER: 08750769)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 850,000 880,000

CURRENT ASSETS
Debtors 5 215 -
Cash at bank 170,928 152,453
171,143 152,453
CREDITORS
Amounts falling due within one year 6 (667,027 ) (705,806 )
NET CURRENT LIABILITIES (495,884 ) (553,353 )
TOTAL ASSETS LESS CURRENT LIABILITIES 354,116 326,647

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 354,114 326,645
SHAREHOLDERS' FUNDS 354,116 326,647

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 14 July 2025 and were signed on its behalf by:




Ms S Patel - Director



Mr R W J Zijlstra - Director


MAGNOLIA LETTINGS LIMITED (REGISTERED NUMBER: 08750769)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Magnolia Lettings 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. 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

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 statement of financial position date.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 880,000
Revaluations (30,000 )
At 31 December 2024 850,000
NET BOOK VALUE
At 31 December 2024 850,000
At 31 December 2023 880,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2015 10,264
Valuation in 2016 (50,000 )
Valuation in 2020 (20,000 )
Valuation in 2021 (30,000 )
Valuation in 2022 (30,000 )
Valuation in 2023 (40,000 )
Valuation in 2024 (30,000 )
Cost 1,039,736
850,000

MAGNOLIA LETTINGS LIMITED (REGISTERED NUMBER: 08750769)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,039,736 1,039,736

Investment property was valued on on open market basis on 31 December 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 215 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 180 180
Taxation and social security 19,572 14,789
Other creditors 647,275 690,837
667,027 705,806