Company Registration No. 02935314 (England and Wales)
Magic Carpets (Wholesale) Limited
Unaudited accounts
for the year ended 31 March 2025
Magic Carpets (Wholesale) Limited
Unaudited accounts
Contents
Magic Carpets (Wholesale) Limited
Company Information
for the year ended 31 March 2025
Directors
G P Porter
A D Porter
Company Number
02935314 (England and Wales)
Registered Office
293 Lugtrout Lane
Solihull
Warwickshire
B91 2TW
Accountants
Delta Accountancy Services
57 Stotfold Road
Maypole
Birmingham
B14 5JD
Magic Carpets (Wholesale) Limited
Statement of financial position
as at 31 March 2025
Tangible assets
349,609
349,609
Cash at bank and in hand
12,374
12,257
Creditors: amounts falling due within one year
(319,602)
(321,087)
Net current liabilities
(305,703)
(307,355)
Called up share capital
2
2
Profit and loss account
43,904
42,252
Shareholders' funds
43,906
42,254
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 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 the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by
G P Porter
Director
Company Registration No. 02935314
Magic Carpets (Wholesale) Limited
Notes to the Accounts
for the year ended 31 March 2025
Magic Carpets (Wholesale) Limited is a private company, limited by shares, registered in England and Wales, registration number 02935314. The registered office is 293 Lugtrout Lane, Solihull, Warwickshire, B91 2TW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Freehold property is valued at cost. The directors believe that the property will remain at or above
Plant & machinery
25% Straight line basis
Motor vehicles
25% Straight line basis
4
Tangible fixed assets
Total
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Magic Carpets (Wholesale) Limited
Notes to the Accounts
for the year ended 31 March 2025
6
Average number of employees
During the year the average number of employees was 3 (2024: 3).