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Company Registration No. 07954470 (England and Wales)
MAG M & E LIMITED Unaudited accounts for the year ended 28 February 2023
MAG M & E LIMITED Unaudited accounts Contents
Page
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MAG M & E LIMITED Company Information for the year ended 28 February 2023
Director
Mr Maciej TELECHIEWICZ
Company Number
07954470 (England and Wales)
Registered Office
41 HOOD AVENUE LONDON N14 4QJ
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MAG M & E LIMITED Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
12,122 
15,152 
Current assets
Debtors
87,502 
195,576 
Cash at bank and in hand
312,972 
12,742 
400,474 
208,318 
Creditors: amounts falling due within one year
(121,425)
(103,009)
Net current assets
279,049 
105,309 
Total assets less current liabilities
291,171 
120,461 
Creditors: amounts falling due after more than one year
(5,425)
(10,672)
Net assets
285,746 
109,789 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
285,744 
109,787 
Shareholders' funds
285,746 
109,789 
For the year ending 28 February 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 November 2023 and were signed on its behalf by
Mr Maciej TELECHIEWICZ Director Company Registration No. 07954470
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MAG M & E LIMITED Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
MAG M & E LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07954470. The registered office is 41 HOOD AVENUE, LONDON, N14 4QJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 March 2022
34,927 
At 28 February 2023
34,927 
Depreciation
At 1 March 2022
19,775 
Charge for the year
3,030 
At 28 February 2023
22,805 
Net book value
At 28 February 2023
12,122 
At 28 February 2022
15,152 
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MAG M & E LIMITED Notes to the Accounts for the year ended 28 February 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
18,624 
12,399 
Other debtors
68,878 
183,177 
87,502 
195,576 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
69,775 
51,359 
Other creditors
30,000 
30,000 
Accruals
21,650 
21,650 
121,425 
103,009 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
5,425 
10,672 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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