## **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
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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