2021-12-31-accounts

MAGMA POETRY

(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Charity number 1141075 Company number 06113525

MAGMA POETRY

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

	Page
Company Information	1
Report of the Directors	2
Report of Independent Examiner	3
Income and Expenditure Account	4
Balance Sheet	5
Notes to the Accounts	6
Management Information	7

MAGMA POETRY

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2021

DIRECTORS / TRUSTEES:

H.C. Nicholson

L.C. Smith C.A. Moskowitz (Resigned 11.3.22) R. MacKenzie (Resigned 11.3.22) S. Poleg (Resigned 11.3.22) E. Frears (Resigned 11.3.22) S. J. Hart L. Kelly D.R. Floyd S. Rodrigues F.C. Moore O. Abayomi-Odubanjo L.Boix

SECRETARY:

L.C. Smith

REGISTERED OFFICE:

23 Pine Walk Carshalton Surrey SM5 4ES

COMPANY REGISTRATION NUMBER:

06113525 (England and Wales)

CHARITY REGISTRATION NUMBER:

1141075

ACCOUNTANT:

Longstaff, Gentle & Co 61 Harpur Street Bedford Bedfordshire MK40 2SR

1

MAGMA POETRY

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2021

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the publication of poetry about poetry.

DIRECTORS

The directors who held office during the year were:

H.C. Nicholson L.C. Smith R. MacKenzie (Resigned 11.3.22) E. Frears (Resigned 11.3.22) S. J. Hart L. Kelly D.R. Floyd C.A. Moskowitz (Resigned 11.3.22) S.Poleg (Resigned 11.3.22) S. Rodrigues F.C. Moore O. Abayomi-Odubanjo L. Boix

As the company is limited by guarantee, there are no directors' interests requiring disclosure unde Companies Act 2006.

This report has been prepared in accordance with the special provisions of Part 15 of the Companie 2006 relating to small companies.

ON BEHALF OF THE BOARD:

D. R. Floyd Director

….....................................

2

y and writing rthe

MAGMA POETRY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MAGMA POETRY CHARITABLE COMPANY

I report on the accounts of the company for the year ended 31 December 2021, which are set out pages 4 to 6.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are resp for the preparation of the accounts. The charity's trustees consider that an audit is not required for year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent exami is needed.

It is my responsibility to:

• 1 examine the accounts under section 145 of the 2011 Act;

• 2 to follow the procedures laid down in the General Directions given by the Charity Commissio under section 145(5)(b) of the 2011 Act; and

• 3 to state whether particular matters have come to my attention.

Basis of Independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity an comparison of the accounts presented with those records. It also includes consideration of any unu items or disclosures in the accounts, and the seeking of explanations from you as trustees concern any such matters. The procedures undertaken do not provide all the evidence that would be requir an audit and, consequently no opinion is given as to whether the accounts present a true and fair v and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to our attention:

• 1 which gives me reasonable cause to believe that, in any material respect, the requirements:

• a) to keep accounting records in accordance with section 130 of the Charities Act, a

• b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Charities Act have not been met, or

• 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

LONGSTAFF, GENTLE & CO 61, Harpur Street Bedford MK40 2SR

…......................................

MR STEPHEN SIMPSON

Chartered Certifed Accountants

3

on

ponsible r this ination

ner

nd a usual ning red in view'

and

3

MAGMA POETRY

INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

Note Income 1 Less: Operating Expenses Operating Surplus / (Defcit) Add: Interest Receivable Surplus / (Defcit) on ordinary activities before taxation Taxation 2 Surplus / (Defcit) on ordinary activities after taxation Reserves Brought Forward Reserves Carried Forward	31/12/2021 £ 42688 39013
	3675 0
	3675 0
	3675 17506
	21181

4

31/12/2020 £

43920 32939 10981 2 10983 0 10983 6523 17506

4

MAGMA POETRY

BALANCE SHEET AS AT 31 DECEMBER 2021

		31/12/2021	31/12/2021	31/12
	Note	£	£	£
CURRENT ASSETS
Debtors			11196
Prepayments and Accrued Income			432
Cash at Bank and in Hand			13213
			24841
LESS: CURRENT LIABILITIES
Accruals and Deferred Income			3660
NET ASSETS			21181
RESERVES
General Reserves			21181
			21181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to companies for the year ended 31 December 2021.

The trustees have not required the company to obtain an audit of its financial statements for the year ende 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with the provisions applicable to small compan to the small companies regime and in accordance with FRS102 SORP.

The financial statements were approved by the directors on …...............................and signed on its behalf

D.R. Floyd Director

/2020 £

0 120 24049 24169

6663

17506

17506 17506

small

ed

with respect

nies subject

f by:

MAGMA POETRY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 ACCOUNTING POLICIES

Accounting Convention

The financial statements have been prepared under the historical cost convention. The financia have been prepared in accordance with Statement of Recommended Practice, "Accounting and Charities (revised 2005) and preparing their accounts in accordance with the Financial Reportin applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Cha

Income

Income comprises subscriptions and takings receivable during the period together with any gra donations. From 2008, any income relating to future editions has been separately identified an under Deferred Income.

2 TAXATION

Analysis of the tax (credit) / charge

The tax (credit) / charge on the loss on ordinary activities for the year was as follows:

Current Tax: UK Corporation Tax Tax on (loss) / proft on ordinary activities	31/12/2021 £ 0
	0

3 SHARE CAPITAL

The company is limited by guarantee and therefore has no share capital.

Each member's guarantee liability is limited to £1.

al statements d Reporting by ng Standard arities Act 2011.

ants and d included

31/12/2020 £

0 0

MAGMA POETRY

MANAGEMENT INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2021

INCOME Sales Cofee House/Events Grants Received Donations Received Bank Interest Received OPERATING EXPENSES Magazine Production Postage, Stationery and Distribution Work Readers Fees and Expenses(including Launches) Event Costs New Media Costs Website Development Competition Costs Trustees Expenses Marketing Accountancy Charges Bank Charges and Sundries NET INCOME / (EXPENDITURE)	31/12/2021 £ £ 24857 0 17831 0 0 42688 19172 1205 5255 1721 3043 686 5396 0 0 516 2019 39013 3675	31/12/2020 £ £ 29697 0 14223 0 2 43922 17219 2686 2316 0 2345 330 5714 470 0 498 1361 32939 10983	31/12/2020 £ £ 29697 0 14223 0 2 43922 17219 2686 2316 0 2345 330 5714 470 0 498 1361 32939 10983
	19172 1205 5255 1721 3043 686 5396 0 0 516 2019	17219 2686 2316 0 2345 330 5714 470 0 498 1361
			10983

7