Magic Beans Trading Limited - Accounts

MAGIC BEANS TRADING LIMITED - Company Information

Magic Beans Trading Limited 12499533 retail and wholesale false 1 April 2021 12499533 2021-04-01 2022-03-31 12499533 2021-03-31 12499533 2022-03-31 12499533 2020-03-05 2021-03-31 12499533 2020-03-04 12499533 2021-03-31 12499533 frs102-bus:FRS102 2021-04-01 2022-03-31 12499533 frs102-bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 12499533 frs102-bus:FullAccounts 2021-04-01 2022-03-31 12499533 frs102-bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 12499533 frs102-core:CurrentFinancialInstruments 2022-03-31 12499533 frs102-core:CurrentFinancialInstruments 2021-03-31 12499533 frs102-core:ShareCapital 2022-03-31 12499533 frs102-core:ShareCapital 2021-03-31 12499533 frs102-core:RetainedEarningsAccumulatedLosses 2022-03-31 12499533 frs102-core:RetainedEarningsAccumulatedLosses 2021-03-31 12499533 frs102-bus:Director1 2021-04-01 2022-03-31 12499533 frs102-core:NetGoodwill 2021-03-31 12499533 frs102-core:NetGoodwill 2021-04-01 2022-03-31 12499533 frs102-core:NetGoodwill 2022-03-31 12499533 frs102-core:NetGoodwill 2021-03-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares

	Registered number
	12499533

	Magic Beans Trading Limited
	Draft Unaudited Accounts
	for the year ended
	31 March 2022

Magic Beans Trading Limited Balance Sheet as at 31 March 2022
	Notes		2022 £		2021 £
Fixed assets
Intangible assets	3		18,400		15,400
			18,400		15,400

Current assets
Stocks		155,482		139,623
Debtors		6,268		13,785
Cash at bank and in hand		33,243		128,025
		194,993		281,433

Creditors: amounts falling due within one year		(147,522)		(285,768)

Net current assets / (liabilities)			47,471		(4,335)

Total assets less current liabilities			65,871		11,065

Provisions for liabilities			(0)		(0)

Total net assets (liabilities)			65,871		11,065

Capital and reserves
Called up share capital			120		120
Profit and loss account			65,751		10,945
Shareholders' funds			65,871		11,065

These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 March 2022 the company was entitled to exemption 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.

Signed on behalf of the board of directors

...............................

Mr G Wilmot

Director

Approved by the board on 15 July 2022

Company Number: 12499533 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

86 Paul Street
London
EC2A 4NE
England

1.	Accounting policies
	Basis of preparation of financial statements These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.

	Tangible fixed assets depreciation policy
	Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.

	Stocks
	Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

Stocks

Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

	Foreign currencies
	Transactions in foreign currencies other than the functional currency of the company are recorded at the rate of exchange on the date the transaction occurred. Monetary assets and liabilities in foreign currencies are translated at the rates prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items measured at historic cost in a foreign currency are recorded at that historic value.

Foreign currencies

Transactions in foreign currencies other than the functional currency of the company are recorded at the rate of exchange on the date the transaction occurred. Monetary assets and liabilities in foreign currencies are translated at the rates prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items measured at historic cost in a foreign currency are recorded at that historic value.

Employees
	2022	2021
Average number of employees during the period	2	2

Intangible fixed assets
	Goodwill	Total
Cost	£	£
At 1 April 2021	0	15,400
Additions	3,000	3,000
At 31 March 2022	3,000	18,400
Amortisation
At 1 April 2021	0	0
At 31 March 2022	0	0
Net book value
At 31 March 2022	3,000	18,400
At 31 March 2021	0	15,400