1 January 2023 false No description of principal activity Taxfiler 2024.1 NI675054business:PrivateLimitedCompanyLtd2023-01-012023-12-31 NI6750542022-12-31 NI6750542023-01-012023-12-31 NI675054business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 NI675054business:FilletedAccounts2023-01-012023-12-31 NI6750542023-12-31 NI675054business:Director12023-01-012023-12-31 NI675054business:Director22023-01-012023-12-31 NI675054business:RegisteredOffice2023-01-012023-12-31 NI6750542022-12-31 NI675054core:WithinOneYear2023-12-31 NI675054core:WithinOneYear2022-12-31 NI675054core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 NI675054core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 NI675054core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 NI675054core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 NI675054core:PreviouslyStatedAmount2023-12-31 NI675054core:PreviouslyStatedAmount2022-12-31 NI675054business:SmallEntities2023-01-012023-12-31 NI675054countries:NorthernIreland2023-01-012023-12-31 NI675054core:PlantMachinery2023-01-012023-12-31 NI675054core:FurnitureFittings2023-01-012023-12-31 NI675054core:ComputerEquipment2023-01-012023-12-31 NI675054core:PlantMachinery2022-12-31 NI675054core:FurnitureFittings2022-12-31 NI675054core:ComputerEquipment2022-12-31 NI675054core:PlantMachinery2023-12-31 NI675054core:FurnitureFittings2023-12-31 NI675054core:ComputerEquipment2023-12-31 NI6750542022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. NI675054 (Northern Ireland)
MAG GLOBAL UK LTD Unaudited accounts for the year ended 31 December 2023
MAG GLOBAL UK LTD Unaudited accounts Contents
Page
- 2 -
MAG GLOBAL UK LTD Company Information for the year ended 31 December 2023
Directors
Anish Jose Ankith Sunny
Company Number
NI675054 (Northern Ireland)
Registered Office
188 Kingsway Dunmurry Belfast Northern Ireland BT17 9AD
- 3 -
MAG GLOBAL UK LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,516 
3,068 
Current assets
Cash at bank and in hand
18,403 
18,770 
Creditors: amounts falling due within one year
(11,511)
(12,701)
Net current assets
6,892 
6,069 
Net assets
9,408 
9,137 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
9,405 
9,134 
Shareholders' funds
9,408 
9,137 
For the year ending 31 December 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 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 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 of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by
Anish Jose Director Company Registration No. NI675054
- 4 -
MAG GLOBAL UK LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
MAG GLOBAL UK LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI675054. The registered office is 188 Kingsway, Dunmurry, Belfast, Northern Ireland, BT17 9AD.
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.
Tangible fixed assets and depreciation
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:
Plant & machinery
18%
Fixtures & fittings
18%
Computer equipment
18%
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
1,200 
1,100 
1,012 
3,312 
At 31 December 2023
1,200 
1,100 
1,012 
3,312 
Depreciation
At 1 January 2023
1 
82 
161 
244 
Charge for the year
216 
183 
153 
552 
At 31 December 2023
217 
265 
314 
796 
Net book value
At 31 December 2023
983 
835 
698 
2,516 
At 31 December 2022
1,199 
1,018 
851 
3,068 
- 5 -
MAG GLOBAL UK LTD Notes to the Accounts for the year ended 31 December 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
2,950 
3,738 
Loans from directors
8,086 
8,555 
Accruals
475 
408 
11,511 
12,701 
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 6 -