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
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
MAG GLOBAL UK LTD
Statement of financial position
as at 31 December 2023
Tangible assets
2,516
3,068
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
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
MAG GLOBAL UK LTD
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
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
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
At 1 January 2023
1
82
161
244
Charge for the year
216
183
153
552
At 31 December 2023
217
265
314
796
At 31 December 2023
983
835
698
2,516
At 31 December 2022
1,199
1,018
851
3,068
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
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).