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Registered number: 08956167










MAGIC ROOMS ACCOMMODATION LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2025

 
MAGIC ROOMS ACCOMMODATION LTD
REGISTERED NUMBER: 08956167

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2025

28 February
29 February
2025
2024
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 6 
267,155
409,371

Cash at bank and in hand
 7 
166,208
179,935

  
433,363
589,306

Creditors: amounts falling due within one year
 8 
(1,928,680)
(2,091,652)

Net current liabilities
  
 
 
(1,495,317)
 
 
(1,502,346)

Total assets less current liabilities
  
(1,495,317)
(1,502,346)

  

Net liabilities
  
(1,495,317)
(1,502,346)


Capital and reserves
  

Called up share capital 
  
250,000
250,000

Profit and loss account
  
(1,745,317)
(1,752,346)

  
(1,495,317)
(1,502,346)


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 August 2025.




A Dotor Martin-Sanz
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 1

 
MAGIC ROOMS ACCOMMODATION LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2024
250,000
(1,752,346)
(1,502,346)


Comprehensive income for the year

Profit for the year

-
7,029
7,029


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
7,029
7,029


Total transactions with owners
-
-
-


At 28 February 2025
250,000
(1,745,317)
(1,495,317)


The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
MAGIC ROOMS ACCOMMODATION LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2023
250,000
(1,807,141)
(1,557,141)


Comprehensive income for the year

Profit for the year

-
54,795
54,795


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
54,795
54,795


Total transactions with owners
-
-
-


At 29 February 2024
250,000
(1,752,346)
(1,502,346)


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
MAGIC ROOMS ACCOMMODATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1.


General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 8th Floor Becket House, 36 Old Jewry, London, EC2R 8DD

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The principal activity of the Company continued to be that of intermediary between the accommodation provider and UK travel agents on the distribution of hotel rooms.All accommodation providers are all based outside of the uk.

 
2.2

Going concern

The Company’s forecasts and projections show that the company is expected to have adequate funding to meet its operational working capital requirements for the foreseeable future. The ultimate controlling party has provided the necessary financial support to the company to ensure that it meets its liabilities and obligations as and when they fall due and has confirmed his agreement to continue doing so for a period of at least 12 months from the date of these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4

 
MAGIC ROOMS ACCOMMODATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

  
2.4

Revenue

Turnover is measured at the fair value of consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. 

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
25%
Straight Line
Fixtures and fittings
-
25%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
MAGIC ROOMS ACCOMMODATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary
Page 6

 
MAGIC ROOMS ACCOMMODATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)


2.11
Financial instruments (continued)

course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of revision and future periods where the revision affects both current and future
periods.
The directors believe that there are no significant accounting estimates or critical judgements.
Other accounting estimates include the useful life of tangible fixed assets


4.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2025
        2024
            No.
            No.







Employees
1
1

Page 7

 
MAGIC ROOMS ACCOMMODATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

5.


Tangible fixed assets







Fixtures and fittings

£



Cost or valuation


At 1 March 2024
18,562



At 28 February 2025

18,562



Depreciation


At 1 March 2024
18,562



At 28 February 2025

18,562



Net book value



At 28 February 2025
-



At 29 February 2024
-

Page 8

 
MAGIC ROOMS ACCOMMODATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

6.


Debtors

28 February
29 February
2025
2024
£
£


Trade debtors
144,573
299,987

Amounts owed by group undertakings
112,428
105,644

Other debtors
2,168
3,740

Prepayments and accrued income
7,986
-

267,155
409,371



7.


Cash and cash equivalents

28 February
29 February
2025
2024
£
£

Cash at bank and in hand
166,208
179,935

Less: bank overdrafts
(63,773)
(23,835)

102,435
156,100



8.


Creditors: Amounts falling due within one year

28 February
29 February
2025
2024
£
£

Bank overdrafts
63,773
23,835

Trade creditors
2,040
6,083

Amounts owed to group undertakings
1,844,416
2,038,776

Other taxation and social security
3,043
3,043

Other creditors
4,158
9,185

Deferred income and accruals
11,250
10,730

1,928,680
2,091,652


Page 9

 
MAGIC ROOMS ACCOMMODATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

9.


Financial instruments

28 February
29 February
2025
2024
£
£

Financial assets


Financial assets measured at fair value through profit or loss
166,208
-




10.


Related party transactions

Being a wholly owned subsidiary, the company has taken advantage of the exemptions as conferred by Financial Reporting Standard 1021A, Section 33 'Related Party Disclosures' not to disclose transactions with other members of the group headed by the El corte inglés.


11.


Controlling party

Magic Rooms Acomodation Limited is a wholly owned subsidiary of Aperture Travel S.L, a company incorporated in Spain. on 28 February 2022, the group entered into a joint venture with EL Corte Inglés S.A. and the company became part of the El Corte Inglés Group, headed by El Corte Inglés, S.A. The results of Magic Rooms Accommodation Limited are included in the consolidated financial statements of El Corte Inglés, S.A. which are available from: C/ Hermosilla, nº 112, Madrid, Spain. 


12.


Auditors' information

The auditors' report on the financial statements for the year ended 28 February 2025 was unqualified.

The audit report was signed on 21 August 2025 by Ian Palmer FCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 10