Company Registration No. 14316884 (England and Wales)
MAG UTILITIES LIMITED
Unaudited accounts
for the period from 24 August 2022 to 31 August 2023
MAG UTILITIES LIMITED
Unaudited accounts
Contents
MAG UTILITIES LIMITED
Company Information
for the period from 24 August 2022 to 31 August 2023
Director
Michael Albert Gray
Company Number
14316884 (England and Wales)
Registered Office
5 ROSECROFT
PELTON
CHESTER LE STREET
DH2 1NL
ENGLAND
Accountants
Bibby Accounts Limited
2 Station Cottages
Shotley Bridge
Consett
County Durham
DH8 0NG
MAG UTILITIES LIMITED
Statement of financial position
as at 31 August 2023
Cash at bank and in hand
4,445
Creditors: amounts falling due within one year
(24,792)
Net current liabilities
(9,495)
Profit and loss account
10,236
Shareholders' funds
10,236
For the period ending 31 August 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 22 February 2024 and were signed on its behalf by
Michael Albert Gray
Director
Company Registration No. 14316884
MAG UTILITIES LIMITED
Notes to the Accounts
for the period from 24 August 2022 to 31 August 2023
MAG UTILITIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 14316884. The registered office is 5 ROSECROFT, PELTON, CHESTER LE STREET, DH2 1NL, ENGLAND.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 24 August 2022
10,544
7,000
2,825
-
20,369
At 31 August 2023
10,544
7,000
2,825
-
20,369
At 24 August 2022
-
490
-
-
490
Charge for the period
-
-
-
148
148
At 31 August 2023
-
490
-
148
638
At 31 August 2023
10,544
6,510
2,825
(148)
19,731
Amounts falling due within one year
MAG UTILITIES LIMITED
Notes to the Accounts
for the period from 24 August 2022 to 31 August 2023
6
Creditors: amounts falling due within one year
2023
Taxes and social security
2,284
Loans from directors
22,508
7
Average number of employees
During the period the average number of employees was 1.