## **MAGMA POETRY**
**(A company limited by guarantee)**
## **REPORT AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
**Charity number 1141075 Company number 06113525**
## **MAGMA POETRY**
## **CONTENTS OF THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
||**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 2024**
**DIRECTORS / TRUSTEES:** H.C. Nicholson L.C. Smith S. J. Hart L. Kelly D.R. Floyd S. Rodrigues F.C. Moore 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 2024**
The directors present their report with the financial statements of the company for the year ended 31 December 2024.
## **PRINCIPAL ACTIVITY**
The principal activity of the company in the year under review was that of the publication of poetry and writing about poetry.
## **DIRECTORS**
The directors who held office during the year were:
H.C. Nicholson L.C. Smith S. J. Hart L. Kelly D.R. Floyd S. Rodrigues F.C. Moore L. Boix
As the company is limited by guarantee, there are no directors' interests requiring disclosure under the Companies Act 2006.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **ON BEHALF OF THE BOARD:**
D. R. Floyd Director
Date….................................
2
## **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 2024, which are set out on 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 responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination 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 Commissioner 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 and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a true and fair view' 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, and
- 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
Date…............................. Chartered Certified Accountants
3
## **MAGMA POETRY**
## **INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Note**
Income
**1**
Less:
Operating Expenses
Operating Surplus / (Deficit)
Add:
Interest Receivable
Surplus / (Deficit) on ordinary activities before taxation
Taxation
**2**
Surplus / (Deficit) on ordinary activities after taxation
Reserves Brought Forward
Reserves Carried Forward|**31/12/2024**
**£**
36722
38417
(1695)
0
(1695)
0
(1695)
6965
5270|**31/12/2023**
**£**
27592
38243|
|---|---|---|
|||(10651)
0|
|||(10651)
0|
|||(10651)
17616|
|||6965|
4
## **MAGMA POETRY**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
|||**31/12/2024**|**31/12/2024**|**31/12/2023**|**31/12/2023**|
|---|---|---|---|---|---|
||**Note**|**£**|**£**|**£**|**£**|
|**CURRENT ASSETS**||||||
|Debtors|||0||0|
|Prepayments and Accrued Income|||557||500|
|Cash at Bank and in Hand|||12371||11080|
||||12928||11580|
|**LESS: CURRENT LIABILITIES**||||||
|Accruals and Deferred Income|||7658||4615|
|**NET ASSETS**|||5270||6965|
|**RESERVES**||||||
|General Reserves|||5270||6965|
||||5270||6965|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2024.
The trustees have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the provisions applicable to small companies subject 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 by:
D.R. Floyd Director
5
**MAGMA POETRY**
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1 ACCOUNTING POLICIES**
## **Accounting Convention**
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Statement of Recommended Practice, "Accounting and Reporting by Charities (revised 2005) and preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
## **Income**
Income comprises subscriptions and takings receivable during the period together with any grants and donations. From 2008, any income relating to future editions has been separately identified and included 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) / profit on ordinary activities|**31/12/2024**
**£**
0
0|**31/12/2023**
**£**
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.
6
**MAGMA POETRY**
## **MANAGEMENT INFORMATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
|**INCOME**
Sales
Coffee House/Events
Grants Received
Donations Received
Bank Interest Received
**OPERATING EXPENSES**
***Suspense
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)**|**31/12/2024**
**£**
**£**
36706
0
0
0
16
36722
256
18325
4583
75
0
4383
852
7151
189
40
612
1951
38417
(1695)|**31/12/2023**
**£**
**£**
22312
0
5280
0
0
27592
0
21003
4010
60
0
2415
400
8021
0
0
588
1746
38243
(10651)|**31/12/2023**
**£**
**£**
22312
0
5280
0
0
27592
0
21003
4010
60
0
2415
400
8021
0
0
588
1746
38243
(10651)|
|---|---|---|---|
||256
18325
4583
75
0
4383
852
7151
189
40
612
1951|0
21003
4010
60
0
2415
400
8021
0
0
588
1746||
|||||
||||(10651)|
7