Quick Pick Magic Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 13066613

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		23,000		23,000

			23,000		23,000
CURRENT ASSETS
Debtors	5	1,562		-
Cash at bank and in hand		8,191		7,948

		9,753		7,948
Creditors: Amounts Falling Due Within One Year	6	(5,320 )		(10,374 )

NET CURRENT ASSETS (LIABILITIES)			4,433		(2,426 )

TOTAL ASSETS LESS CURRENT LIABILITIES			27,433		20,574

NET ASSETS			27,433		20,574

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			27,432		20,573

SHAREHOLDERS' FUNDS			27,433		20,574

For the year ending 31 December 2024 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 Muhammad Arshad

Director

05/09/2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Quick Pick Magic Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13066613 . The registered office is 56 Hereford Drive, Bootle, L30 1PR.

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.

2.3. 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.

2.4. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Investments

	Unlisted
	£
Cost
As at 1 January 2024	23,000

As at 31 December 2024	23,000

Provision
As at 1 January 2024	-

As at 31 December 2024	-

...CONTINUED

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Quick Pick Magic Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	23,000

As at 1 January 2024	23,000

5. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	1,562	-

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Other creditors	2,848	9,690
Taxation and social security	2,472	684

	5,320	10,374

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

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