Heywood Magic Development Trust Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04495560

Heywood Magic Development Trust Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 January 2026

Heywood Magic Development Trust Limited

Company Limited by Guarantee

Statement of Financial Position

31 January 2026

	2026		2025
Note	£	£	£

Fixed Assets

Tangible assets	6		380,939	385,175

Current Assets

Debtors	7	3,904	5,559
Cash at bank and in hand		79,339	88,248
		--------	--------
		83,243	93,807

Creditors: amounts falling due within one year	8	22,615		7,792
		--------		--------
Net Current Assets			60,628	86,015
			---------	---------
Total Assets Less Current Liabilities			441,567	471,190
			---------	---------
Net Assets			441,567	471,190
			---------	---------

Capital and Reserves

Profit and loss account	441,567	471,190
	---------	---------
Members Funds	441,567	471,190
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Heywood Magic Development Trust Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 January 2026

These financial statements were approved by the board of directors and authorised for issue on 12 October 2026 , and are signed on behalf of the board by:

Mr A George	Mrs S Coates
Director	Director

Company registration number: 04495560

Heywood Magic Development Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year Ended 31 January 2026

1. General Information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Heywood Market Hall, York Street, Heywood, Lancashire, OL10 1LT.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Improvement	-	10% straight line
Plant & Machinery	-	25% straight line
Fixtures & Fittings	-	25% straight line
Equipment	-	25% straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Company Limited by Guarantee

The Company is limited by guarantee without Share Capital.

5. Employee Numbers

The average number of persons employed by the company during the year amounted to 3 (2025: 3 ).

6. Tangible Assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 February 2025	434,870	86,516	16,456	3,250	541,092
Additions	–	119	–	1,689	1,808
	---------	--------	--------	-------	---------
At 31 January 2026	434,870	86,635	16,456	4,939	542,900
	---------	--------	--------	-------	---------
Depreciation
At 1 February 2025	66,899	84,576	3,974	468	155,917
Charge for the year	–	618	4,114	1,312	6,044
	---------	--------	--------	-------	---------
At 31 January 2026	66,899	85,194	8,088	1,780	161,961
	---------	--------	--------	-------	---------
Carrying amount
At 31 January 2026	367,971	1,441	8,368	3,159	380,939
	---------	--------	--------	-------	---------
At 31 January 2025	367,971	1,940	12,482	2,782	385,175
	---------	--------	--------	-------	---------

7. Debtors

	2026	2025
	£	£
Trade debtors	( 406)	( 37)
Other debtors	4,310	5,596
	-------	-------
	3,904	5,559
	-------	-------

8. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	491	3,608
Social security and other taxes	1,176	486
Other creditors	20,948	3,698
	--------	-------
	22,615	7,792
	--------	-------

9. Related Party Transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.