MAGH LTD

Company Registration Number:
10501569 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2021

Period of accounts

Start date: 1 December 2020

End date: 30 November 2021

MAGH LTD

Contents of the Financial Statements

for the Period Ended 30 November 2021

Balance sheet
Additional notes
Balance sheet notes

MAGH LTD

Balance sheet

As at 30 November 2021

Notes 2021 2020


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 150,000 150,000
Tangible assets: 4 233,396 256,715
Total fixed assets: 383,396 406,715
Current assets
Debtors: 5 124,590 82,401
Cash at bank and in hand: 51,647 758
Total current assets: 176,237 83,159
Creditors: amounts falling due within one year: 6 ( 200,101 ) ( 257,254 )
Net current assets (liabilities): (23,864) (174,095)
Total assets less current liabilities: 359,532 232,620
Creditors: amounts falling due after more than one year: 7 ( 285,148 ) ( 289,500 )
Total net assets (liabilities): 74,384 (56,880)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 74,284 (56,980 )
Total Shareholders' funds: 74,384 (56,880)

The notes form part of these financial statements

MAGH LTD

Balance sheet statements

For the year ending 30 November 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 10 August 2022
and signed on behalf of the board by:

Name: Ghorban Jamali
Status: Director

The notes form part of these financial statements

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2021

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax, and other sales taxes.

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment.Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:Motor vehicles 18%Office Equipment 18%Fixtures & fittings 18%

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2021

  • 2. Employees

    2021 2020
    Average number of employees during the period 15 23

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2021

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 December 2020 150,000 150,000
Additions
Disposals
Revaluations
Transfers
At 30 November 2021 150,000 150,000
Amortisation
At 1 December 2020 0 0
Charge for year
On disposals
Other adjustments
At 30 November 2021 0 0
Net book value
At 30 November 2021 150,000 150,000
At 30 November 2020 150,000 150,000

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2021

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2020 511,214 0 12,106 523,320
Additions 35,352 1,350 36,702
Disposals ( 18,151 ) ( 18,151 )
Revaluations
Transfers 9,650 9,650 0
At 30 November 2021 518,765 11,000 12,106 541,871
Depreciation
At 1 December 2020 262,801 0 3,804 266,605
Charge for year 48,420 1,319 1,494 51,233
On disposals ( 9,363 ) ( 9,363 )
Other adjustments 3,673 3,673 0
At 30 November 2021 298,185 4,992 5,298 308,475
Net book value
At 30 November 2021 220,580 6,008 6,808 233,396
At 30 November 2020 248,413 0 8,302 256,715

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2021

5. Debtors

2021 2020
£ £
Trade debtors 8,943 10,813
Prepayments and accrued income 42,089 35,477
Other debtors 73,558 36,111
Total 124,590 82,401
Debtors due after more than one year: 34,800 34,800

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2021

6. Creditors: amounts falling due within one year note

2021 2020
£ £
Trade creditors 78,168 38,318
Taxation and social security 16,978 42,719
Accruals and deferred income 14,355 4,077
Other creditors 90,600 172,140
Total 200,101 257,254

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2021

7. Creditors: amounts falling due after more than one year note

2021 2020
£ £
Bank loans and overdrafts 45,648 50,000
Other creditors 239,500 239,500
Total 285,148 289,500