Magstripe Limited - Filleted accounts

Registered number

02568237

Magstripe Limited

Filleted Accounts

31 December 2024

Magstripe Limited
Registered number:		02568237
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		163,586			163,825

Current assets
Stocks		12,814			14,775
Debtors	4	10,960			16,268
Cash at bank and in hand		367,263			360,935
		391,037			391,978

Creditors: amounts falling due within one year	5	(254,135)			(250,717)

Net current assets			136,902			141,261

Net assets			300,488			305,086

Capital and reserves
Called up share capital			100			100
Profit and loss account			300,388			304,986

Shareholders' funds			300,488			305,086

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



……………………………………
P G Seaford
Director
Approved by the board on 30 September 2025

Magstripe Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% reducing balance


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			0		0


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 January 2024	162,870		11,999		174,869
	At 31 December 2024	162,870		11,999		174,869

	Depreciation
	At 1 January 2024	-		11,044		11,044
	Charge for the year	-		239		239
	At 31 December 2024	-		11,283		11,283

	Net book value
	At 31 December 2024	162,870		716		163,586
	At 31 December 2023	162,870		955		163,825


4	Debtors			2024		2023
£					£

	Trade debtors			10,960		16,268


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Director's account			238,795		235,588
	Corporation tax			6,334		6,735
	Customs & Excise			8,056		7,475
	Other creditors			950		919
				254,135		250,717


6	Other information

	Magstripe Limited is a private company limited by shares and incorporated in England. Its registered office is:
	14 Nevis Close
	Leighton Buzzard
	Bedfordshire
	LU7 2XD