MAGH LTD

Company Registration Number:
10501569 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

MAGH LTD

Contents of the Financial Statements

for the Period Ended 30 November 2023

Balance sheet
Additional notes
Balance sheet notes

MAGH LTD

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 190,924 175,919
Tangible assets: 4 199,127 228,971
Total fixed assets: 390,051 404,890
Current assets
Stocks: 5 15,950 13,961
Debtors: 6 116,408 106,489
Cash at bank and in hand: 6,179 11,327
Total current assets: 138,537 131,777
Creditors: amounts falling due within one year: 7 ( 134,839 ) ( 154,338 )
Net current assets (liabilities): 3,698 (22,561)
Total assets less current liabilities: 393,749 382,329
Creditors: amounts falling due after more than one year: 8 ( 385,637 ) ( 385,545 )
Total net assets (liabilities): 8,112 (3,216)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 8,012 (3,316 )
Total Shareholders' funds: 8,112 (3,216)

The notes form part of these financial statements

MAGH LTD

Balance sheet statements

For the year ending 30 November 2023 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 12 August 2024
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 2023

  • 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% Reducing balance method Office Equipment 18% Reducing balance methodFixtures & fittings 18% Reducing balance method

    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 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 22 21

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 December 2022 150,000 25,919 175,919
Additions 15,005 15,005
Disposals
Revaluations
Transfers
At 30 November 2023 150,000 40,924 190,924
Amortisation
At 1 December 2022 0 0 0
Charge for year
On disposals
Other adjustments
At 30 November 2023 0 0 0
Net book value
At 30 November 2023 150,000 40,924 190,924
At 30 November 2022 150,000 25,919 175,919

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 556,618 13,769 8,591 578,978
Additions 30,737 5,572 6,897 43,206
Disposals ( 61,507 ) ( 1,772 ) 0 ( 63,279 )
Revaluations
Transfers
At 30 November 2023 525,848 17,569 15,488 558,905
Depreciation
At 1 December 2022 341,465 6,572 1,970 350,007
Charge for year 39,066 2,211 2,433 43,710
On disposals ( 32,824 ) ( 1,115 ) 0 ( 33,939 )
Other adjustments
At 30 November 2023 347,707 7,668 4,403 359,778
Net book value
At 30 November 2023 178,141 9,901 11,085 199,127
At 30 November 2022 215,153 7,197 6,621 228,971

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Stocks

2023 2022
£ £
Stocks 15,950 13,961
Total 15,950 13,961

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Debtors

2023 2022
£ £
Trade debtors 54,287 47,934
Prepayments and accrued income 26,401 23,505
Other debtors 35,720 35,050
Total 116,408 106,489

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 72,681 103,847
Taxation and social security 14,805 20,761
Accruals and deferred income 3,500 2,394
Other creditors 43,853 27,336
Total 134,839 154,338

MAGH LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

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

2023 2022
£ £
Bank loans and overdrafts 25,637 35,545
Other creditors 360,000 350,000
Total 385,637 385,545