Magnum Inc Limited Company accounts
Magnum Inc Limited Company accounts
COMPANY REGISTRATION NUMBER:
05991674
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Financial Statements |
Year ended 30 November 2017
Contents |
Page |
Director's report |
1 |
Statement of income and retained earnings |
2 |
Statement of financial position |
3 |
Notes to the financial statements |
4 |
The following pages do not form part of the financial statements
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements |
8 |
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Director's Report |
Year ended 30 November 2017
The director presents his report and the unaudited financial statements of the company for the year ended
30 November 2017
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Director
The director who served the company during the year was as follows:
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Small company provisions
This report was approved by the board of directors on
22 August 2018
and signed on behalf of the board by:
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Company Secretary |
Registered office: |
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Statement of Income and Retained Earnings |
Year ended 30 November 2017
2017 |
2016 |
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Note |
£ |
£ |
Turnover |
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– |
------- |
---- |
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Gross profit |
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– |
Administrative expenses |
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------- |
------- |
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Operating profit/(loss) |
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(
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Interest payable and similar expenses |
4 |
– |
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------- |
------- |
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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
– |
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---- |
------- |
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Profit/(loss) for the financial year and total comprehensive income |
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(
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---- |
------- |
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Retained losses at the start of the year |
(
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(
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-------- |
-------- |
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Retained losses at the end of the year |
(
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(
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-------- |
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All the activities of the company are from continuing operations.
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Current assets
Debtors |
6 |
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Creditors: amounts falling due within one year |
7 |
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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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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
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These financial statements were approved by the
board of directors
and authorised for issue on
22 August 2018
, and are signed on behalf of the board by:
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Director |
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Company registration number:
05991674
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Notes to the Financial Statements |
Year ended 30 November 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
Deferred taxation
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:
Equipment |
- |
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Financial instruments
4.
Interest payable and similar expenses
2017 |
2016 |
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£ |
£ |
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Interest on banks loans and overdrafts |
– |
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---- |
---- |
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5.
Tangible assets
Equipment |
Total |
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£ |
£ |
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Cost |
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At 1 December 2016 and 30 November 2017 |
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------- |
------- |
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Depreciation |
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At 1 December 2016 and 30 November 2017 |
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------- |
------- |
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Carrying amount |
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At 30 November 2017 |
– |
– |
------- |
------- |
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At 30 November 2016 |
– |
– |
------- |
------- |
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6.
Debtors
2017 |
2016 |
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£ |
£ |
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Other debtors |
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------- |
---- |
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7.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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-------- |
-------- |
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8.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 December 2015.
No transitional adjustments were required in equity or profit or loss for the year.
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Management Information |
Year ended 30 November 2017
The following pages do not form part of the financial statements.
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Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 30 November 2017
40 Kimbolton Road
Bedford
MK40 2NR