REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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MAGNUS ASSETS ONE LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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FOR |
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MAGNUS ASSETS ONE LIMITED |
MAGNUS ASSETS ONE LIMITED (REGISTERED NUMBER: 11214178) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MAGNUS ASSETS ONE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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MAGNUS ASSETS ONE LIMITED (REGISTERED NUMBER: 11214178) |
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BALANCE SHEET |
30 SEPTEMBER 2019 |
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30/9/19 | 30/9/18 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
6 |
( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 7 |
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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. |
MAGNUS ASSETS ONE LIMITED (REGISTERED NUMBER: 11214178) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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MAGNUS ASSETS ONE LIMITED (REGISTERED NUMBER: 11214178) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Magnus Assets One Limited is a
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and Wales. The company's registered number and registered office address can be found |
on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Financial instruments |
Financial instruments are recognised in the company's balance sheet when the company |
becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial |
statements, when there is a legally enforceable right to set off the recognised amounts and |
there is an intention to settle on a net basis or to realise the asset and settle the liability |
simultaneously. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially |
measured at transaction price including transaction costs and are subsequently carried at |
amortised cost using the effective interest method unless the arrangement constitutes a |
financing transaction, where the transaction is measured at the present value of the future |
receipts discounted at a market rate of interest. Financial assets classified as receivable |
within one year are not amortised. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies |
and preference shares that are classified as debt, are initially recognised at transaction price |
unless the arrangement constitutes a financing transaction, where the debt instrument is |
measured at the present value of the future payments discounted at a market rate of |
interest. Financial liabilities classified as payable within one year are not amortised. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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MAGNUS ASSETS ONE LIMITED (REGISTERED NUMBER: 11214178) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable for goods |
supplied or services rendered, excluding discounts, rebates and Value Added Tax. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | DEBTORS |
30/9/19 | 30/9/18 |
£ | £ |
Amounts falling due within one year: |
Loan interest |
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Amounts falling due after more than one year: |
Loan |
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Aggregate amounts |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/9/19 | 30/9/18 |
£ | £ |
Loan interest |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
30/9/19 | 30/9/18 |
£ | £ |
Loan |
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MAGNUS ASSETS ONE LIMITED (REGISTERED NUMBER: 11214178) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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7. | RESERVES |
Retained |
earnings |
£ |
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Profit for the year |
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At 30 September 2019 |
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8. | ULTIMATE CONTROLLING PARTY |
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The directors do not regard the company as being under the control of any one person or |
entity throughout the year under review. |