Magnet Creative Design Limited Filleted accounts for Companies House (small and micro)
Magnet Creative Design Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
03461753
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
Fixed assets
Tangible assets |
6 |
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Current assets
Stocks |
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Debtors |
7 |
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------- |
------- |
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Creditors: amounts falling due within one year |
8 |
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-------- |
-------- |
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Net current liabilities |
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-------- |
-------- |
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Total assets less current liabilities |
(
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(
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-------- |
-------- |
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Net liabilities |
(
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(
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Statement of Financial Position (continued) |
2023 |
2022 |
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Note |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
(
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(
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-------- |
-------- |
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Shareholders deficit |
(
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(
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-------- |
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Director's responsibilities:
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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
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
28 November 2023
, and are signed on behalf of the board by:
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Director |
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Company registration number:
03461753
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Notes to the Financial Statements |
Year ended 28 February 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Summit House, 10 Waterside Court, Newport, South Wales, NP20 5NT.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
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:
Motor Vehicles |
- |
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Equipment |
- |
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Impairment of fixed assets
Stocks
Government grants
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2022:
1
).
5.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 March 2022 and 28 February 2023 |
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Amortisation |
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At 1 March 2022 and 28 February 2023 |
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------- |
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Carrying amount |
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At 28 February 2023 |
– |
------- |
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At 28 February 2022 |
– |
------- |
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6.
Tangible assets
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 March 2022 and 28 February 2023 |
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Depreciation |
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At 1 March 2022 |
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Charge for the year |
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-------- |
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At 28 February 2023 |
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Carrying amount |
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At 28 February 2023 |
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At 28 February 2022 |
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7.
Debtors
2023 |
2022 |
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£ |
£ |
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Trade debtors |
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---- |
------- |
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8.
Creditors:
amounts falling due within one year
2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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-------- |
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9.
Director's advances, credits and guarantees
10.
Related party transactions
The company was under the control of Mr N Rhind in the current and previous period. Mr N Rhind is the Managing Director and majority Shareholder. No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 Section 1a.
11.
Other spare note 99 heading