MAGIC RING LIMITED

Company Registration Number:
13831965 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

MAGIC RING LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

MAGIC RING LIMITED

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Fixed assets
Investments: 3 360,501 0
Total fixed assets: 360,501 0
Current assets
Debtors: 4 10 72,728
Cash at bank and in hand: 278 0
Total current assets: 288 72,728
Creditors: amounts falling due within one year: 5 (162,721) (83,404)
Net current assets (liabilities): (162,433) (10,676)
Total assets less current liabilities: 198,068 (10,676)
Creditors: amounts falling due after more than one year: 6 (230,091) 0
Total net assets (liabilities): (32,023) (10,676)
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (32,024) (10,677)
Shareholders funds: (32,023) (10,676)

The notes form part of these financial statements

MAGIC RING LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 September 2025
and signed on behalf of the board by:

Name: WONG, Tsz Tat
Status: Director

The notes form part of these financial statements

MAGIC RING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

MAGIC RING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

MAGIC RING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Fixed investments

Balance represents investment property held to earn rentals and/or for capital appreciation. As at 31 December 2024, the Company's investment property with a carrying amount of £360,501 (2023: Nil) was pledged to secure a banking facility granted to the Company.

MAGIC RING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

MAGIC RING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

As at 31 December 2024, the amount due to a shareholder of £157,672 (2023: £83,404) is unsecured, interest-free and repayable on demand. As at 31 December 2024, portion of the Company's bank borrowing with a net carrying amount of £3,812 (2023: Nil) is due for repayment within one year.

MAGIC RING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Creditors: amounts falling due after more than one year note

As at 31 December 2024, portion of the Company's bank borrowing with a net carrying amount of £230,091 (2023: Nil) is due for repayment after one year.

MAGIC RING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Financial commitments

As at 31 December 2023, the Company had capital commitment of £265,894 relating to the acquisition of leasehold land and building.