Magic Box Properties Limited - Accounts to registrar (filleted) - small 23.1.2

Magic Box Properties Limited - Accounts to registrar (filleted) - small 23.1.2

MAGIC BOX PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 08231728 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2022

for

Magic Box Properties Limited
Magic Box Properties Limited (Registered number: 08231728)






Contents of the Financial Statements
for the Year Ended 30 September 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Magic Box Properties Limited

Company Information
for the Year Ended 30 September 2022







DIRECTOR: P M Simpson





REGISTERED OFFICE: 7 The Common
London
W5 3TR





REGISTERED NUMBER: 08231728 (England and Wales)





ACCOUNTANTS: Shaw Accounting Services Limited
14 Amherst Avenue
London
W13 8NQ
Page 1
Magic Box Properties Limited (Registered number: 08231728)

Balance Sheet
30 September 2022

30.9.22 30.9.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1
Investment property 5 1,500,000 1,500,000
1,500,001 1,500,001

CURRENT ASSETS
Debtors 6 650 623
Cash at bank 34,909 95,139
35,559 95,762
CREDITORS
Amounts falling due within one year 7 54,524 55,624
NET CURRENT (LIABILITIES)/ASSETS (18,965 ) 40,138
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,481,036
1,540,139

CREDITORS
Amounts falling due after more than one
year
8
(653,081
)
(753,081
)

PROVISIONS FOR LIABILITIES (80,255 ) (80,255 )
NET ASSETS 747,700 706,803

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 397,754 397,754
Retained earnings 349,846 308,949
SHAREHOLDERS' FUNDS 747,700 706,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The notes form part of these financial statements

Page 2 continued...
Magic Box Properties Limited (Registered number: 08231728)

Balance Sheet - continued
30 September 2022


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 director and authorised for issue on 16 April 2023 and were signed by:





P M Simpson - Director


The notes form part of these financial statements

Page 3
Magic Box Properties Limited (Registered number: 08231728)

Notes to the Financial Statements
for the Year Ended 30 September 2022

1. STATUTORY INFORMATION

Magic Box Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable.

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 etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

Page 4 continued...
Magic Box Properties Limited (Registered number: 08231728)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2021
and 30 September 2022 9,802
DEPRECIATION
At 1 October 2021
and 30 September 2022 9,801
NET BOOK VALUE
At 30 September 2022 1
At 30 September 2021 1

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2021
and 30 September 2022 1,500,000
NET BOOK VALUE
At 30 September 2022 1,500,000
At 30 September 2021 1,500,000

Fair value at 30 September 2022 is represented by:
£   
Valuation in 2013 20,862
Valuation in 2014 200,000
Valuation in 2015 59,202
Valuation in 2016 100,000
Valuation in 2021 21,841
Cost 1,098,095
1,500,000

If the investment property had not been revalued it would have been included at the following historical cost:

30.9.22 30.9.21
£    £   
Cost 1,098,095 1,098,095

The investment property was valued on an open market basis on 30 September 2022 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Other debtors 650 623

Page 5 continued...
Magic Box Properties Limited (Registered number: 08231728)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.22 30.9.21
£    £   
Taxation and social security 9,595 10,870
Other creditors 44,929 44,754
54,524 55,624

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.22 30.9.21
£    £   
Other creditors 653,081 753,081

9. RESERVES
Fair
value
reserve
£   
At 1 October 2021
and 30 September 2022 397,754

Page 6