Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 18 March 2023 false 1 April 2024 31 March 2025 31 March 2025 SC762812 Mr Maciej Gorczewski iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC762812 2024-03-31 SC762812 2025-03-31 SC762812 2024-04-01 2025-03-31 SC762812 frs-core:CurrentFinancialInstruments 2025-03-31 SC762812 frs-core:Non-currentFinancialInstruments 2025-03-31 SC762812 frs-core:BetweenOneFiveYears 2025-03-31 SC762812 frs-core:ComputerEquipment 2025-03-31 SC762812 frs-core:ComputerEquipment 2024-04-01 2025-03-31 SC762812 frs-core:ComputerEquipment 2024-03-31 SC762812 frs-core:MotorVehicles 2025-03-31 SC762812 frs-core:MotorVehicles 2024-04-01 2025-03-31 SC762812 frs-core:MotorVehicles 2024-03-31 SC762812 frs-core:PlantMachinery 2025-03-31 SC762812 frs-core:PlantMachinery 2024-04-01 2025-03-31 SC762812 frs-core:PlantMachinery 2024-03-31 SC762812 frs-core:WithinOneYear 2025-03-31 SC762812 frs-core:ShareCapital 2025-03-31 SC762812 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 SC762812 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC762812 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 SC762812 frs-bus:SmallEntities 2024-04-01 2025-03-31 SC762812 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC762812 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC762812 frs-bus:Director1 2024-04-01 2025-03-31 SC762812 frs-bus:Director1 2024-03-31 SC762812 frs-bus:Director1 2025-03-31 SC762812 frs-countries:Scotland 2024-04-01 2025-03-31 SC762812 2023-03-17 SC762812 2024-03-31 SC762812 2023-03-18 2024-03-31 SC762812 frs-core:CurrentFinancialInstruments 2024-03-31 SC762812 frs-core:Non-currentFinancialInstruments 2024-03-31 SC762812 frs-core:BetweenOneFiveYears 2024-03-31 SC762812 frs-core:MotorVehicles 2023-03-18 2024-03-31 SC762812 frs-core:WithinOneYear 2024-03-31 SC762812 frs-core:ShareCapital 2024-03-31 SC762812 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: SC762812
Magic Contractors Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
AP Accounting Solutions Limited
The Mill House
Erw Hir
Llantrisant
Pontyclun
CF72 8BY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC762812
31 March 2025 31 March 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 41,126 26,395
41,126 26,395
CURRENT ASSETS
Stocks 5 309 588
Debtors 6 49,669 37,910
Cash at bank and in hand 9,535 25,170
59,513 63,668
Creditors: Amounts Falling Due Within One Year 7 (48,133 ) (60,703 )
NET CURRENT ASSETS (LIABILITIES) 11,380 2,965
TOTAL ASSETS LESS CURRENT LIABILITIES 52,506 29,360
Creditors: Amounts Falling Due After More Than One Year 8 (15,746 ) -
NET ASSETS 36,760 29,360
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 36,660 29,260
SHAREHOLDERS' FUNDS 36,760 29,360
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 Maciej Gorczewski
Director
14/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Magic Contractors Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC762812 . The registered office is 2 Castle Heather Drive, Inverness, IV2 4ED.
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:
Plant & Machinery 15% Straight Line
Motor Vehicles 15% Straight Line
Computer Equipment 20% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 25,395 5,000 699 31,094
Additions 299 22,560 - 22,859
As at 31 March 2025 25,694 27,560 699 53,953
Depreciation
As at 1 April 2024 3,809 750 140 4,699
Provided during the period 3,854 4,134 140 8,128
As at 31 March 2025 7,663 4,884 280 12,827
Net Book Value
As at 31 March 2025 18,031 22,676 419 41,126
As at 1 April 2024 21,586 4,250 559 26,395
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
31 March 2025 31 March 2024
£ £
Motor Vehicles 19,176 -
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5. Stocks
31 March 2025 31 March 2024
£ £
Materials 309 588
6. Debtors
31 March 2025 31 March 2024
£ £
Due within one year
Trade debtors 390 4,679
Other debtors 49,279 33,231
49,669 37,910
7. Creditors: Amounts Falling Due Within One Year
31 March 2025 31 March 2024
£ £
Net obligations under finance lease and hire purchase contracts 4,199 -
Trade creditors 4,123 15,633
Other creditors 25,666 34,680
Taxation and social security 14,145 10,390
48,133 60,703
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2025 31 March 2024
£ £
Net obligations under finance lease and hire purchase contracts 15,746 -
9. Obligations Under Finance Leases and Hire Purchase
31 March 2025 31 March 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,199 -
Later than one year and not later than five years 15,746 -
19,945 -
19,945 -
10. Share Capital
31 March 2025 31 March 2024
£ £
Allotted, Called up and fully paid 100 100
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11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Maciej Gorczewski (32,414 ) 41,253 (34,505 ) - (25,666 )
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
31 March 2025 31 March 2024
£ £
Mr Maciej Gorczewski 12,100 30,000
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