Magic Action Promotions Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02784962 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

MAGIC ACTION PROMOTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A E Foody

A Lumby

D A Preston

O P Rose

SECRETARY:

D A Preston

REGISTERED OFFICE:

2 Edgerton Road

Edgerton

Huddersfield

HD1 5QS

REGISTERED NUMBER:

02784962 (England and Wales)

ACCOUNTANTS:

Jackson Robson Licence Limited

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

FIXED ASSETS

Tangible assets

2

8,877

6,604

CURRENT ASSETS

Debtors

11,436

6,118

Cash at bank and in hand

25,634

88,132

37,070

94,250

CREDITORS

Amounts falling due within one year

21,524

74,185

NET CURRENT ASSETS

15,546

20,065

TOTAL ASSETS LESS CURRENT LIABILITIES

24,423

26,669

PROVISIONS FOR LIABILITIES

1,360

718

NET ASSETS

23,063

25,951

CAPITAL AND RESERVES

Called up share capital

3

17

17

Profit and loss account

23,046

25,934

SHAREHOLDERS' FUNDS

23,063

25,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 September 2016 and were signed on its behalf by:

A E Foody - Director

A Lumby - Director

D A Preston - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

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

Deferred tax

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

sheet date.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

12,525

Additions

8,058

Disposals

(2,500

)

At 31 December 2015

18,083

DEPRECIATION

At 1 January 2015

5,921

Charge for year

3,908

Eliminated on disposal

(623

)

At 31 December 2015

9,206

NET BOOK VALUE

At 31 December 2015

8,877

At 31 December 2014

6,604

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

17

Ordinary

£1

17

17