| |
|
2025 |
|
2024 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
398,141 |
|
|
398,141 |
| Current assets |
|
39,463 |
|
|
15,807 |
|
| Creditors: amount falling due within one year |
|
(720) |
|
|
(720) |
|
|
Net current assets
|
|
|
38,743
|
|
|
15,087
|
|
Total assets less current liabilities
|
|
|
436,884 |
|
|
413,228 |
| Creditors: amount falling due after more than one year |
|
|
(437,455) |
|
|
(410,055) |
|
Net assets
|
|
|
(571) |
|
|
3,173 |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
(571) |
|
|
3,173 |
| |
NOTES TO THE ACCOUNTS
General Information
Magpie Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 13171257, registration address 11 Deakins Road, Haymilll, Birmingham, B25 8DX.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
|
| 2. |
Average number of employees
Average number of employees during the year was 0 (2024 : 0).
|
For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 07 December 2025 and were signed by: --------------------------------
Navdeep Dhaliwal
Director |
2
|
