Magic Action Promotions Limited - Accounts to registrar (filleted) - small 18.2

Magic Action Promotions Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 02784962 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

MAGIC ACTION PROMOTIONS LIMITED

MAGIC ACTION PROMOTIONS LIMITED (REGISTERED NUMBER: 02784962)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAGIC ACTION PROMOTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DIRECTORS: A E Foody
A Lumby
D A Preston
O P Rose
M H Smith





SECRETARY: D A Preston





REGISTERED OFFICE: 33-35 Exchange Street
Driffield
East Yorkshire
YO25 6LL





REGISTERED NUMBER: 02784962 (England and Wales)





ACCOUNTANTS: Jackson Robson Licence Limited
33-35 Exchange Street
Driffield
East Yorkshire
YO25 6LL

MAGIC ACTION PROMOTIONS LIMITED (REGISTERED NUMBER: 02784962)

BALANCE SHEET
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,776 6,297

CURRENT ASSETS
Debtors 5 673 732
Cash at bank and in hand 51,093 70,352
51,766 71,084
CREDITORS
Amounts falling due within one year 6 34,121 53,910
NET CURRENT ASSETS 17,645 17,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,421

23,471

CAPITAL AND RESERVES
Called up share capital 17 17
Retained earnings 22,404 23,454
SHAREHOLDERS' FUNDS 22,421 23,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

MAGIC ACTION PROMOTIONS LIMITED (REGISTERED NUMBER: 02784962)

BALANCE SHEET - continued
31 DECEMBER 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2020 and
were signed on its behalf by:




A E Foody - Director A Lumby - Director




D A Preston - Director O P Rose - Director




M H Smith - Director


MAGIC ACTION PROMOTIONS LIMITED (REGISTERED NUMBER: 02784962)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1. STATUTORY INFORMATION

Magic Action Promotions Limited is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 7 ) .

MAGIC ACTION PROMOTIONS LIMITED (REGISTERED NUMBER: 02784962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2019 15,889 3,900 3,178 22,967
Additions 250 - 505 755
Disposals - - (358 ) (358 )
At 31 December 2019 16,139 3,900 3,325 23,364
DEPRECIATION
At 1 January 2019 11,889 2,667 2,114 16,670
Charge for year 1,402 307 495 2,204
Eliminated on disposal - - (286 ) (286 )
At 31 December 2019 13,291 2,974 2,323 18,588
NET BOOK VALUE
At 31 December 2019 2,848 926 1,002 4,776
At 31 December 2018 4,000 1,233 1,064 6,297

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 673 -
Other debtors - 732
673 732

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 31,520 51,611
Taxation and social security 1,041 -
Other creditors 1,560 2,299
34,121 53,910