Company Registration No. 08846620 (England and Wales)
MCGARRY ENTERTAINMENT LIMITED
Unaudited accounts
for the year ended 31 December 2023
MCGARRY ENTERTAINMENT LIMITED
Unaudited accounts
Contents
MCGARRY ENTERTAINMENT LIMITED
Company Information
for the year ended 31 December 2023
Directors
Cathleen McGarry
MISARO Ltd
Company Number
08846620 (England and Wales)
Registered Office
20-22 WENLOCK ROAD
LONDON
N1 7GU
ENGLAND
Accountants
Braant Ltd
20 to 22 Wenlock Road
London
N1 7GU
MCGARRY ENTERTAINMENT LIMITED
Statement of financial position
as at 31 December 2023
Intangible assets
38,237
95,573
Tangible assets
15,754
34,362
Cash at bank and in hand
244,364
355,349
Creditors: amounts falling due within one year
(101,762)
(209,821)
Net current assets
159,222
246,793
Total assets less current liabilities
213,213
376,728
Creditors: amounts falling due after more than one year
(524,654)
(664,051)
Net liabilities
(311,441)
(287,323)
Called up share capital
100
100
Profit and loss account
(311,541)
(287,423)
Shareholders' funds
(311,441)
(287,323)
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 20 August 2024 and were signed on its behalf by
Cathleen McGarry
Director
Company Registration No. 08846620
MCGARRY ENTERTAINMENT LIMITED
Notes to the Accounts
for the year ended 31 December 2023
MCGARRY ENTERTAINMENT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08846620. The registered office is 20-22 WENLOCK ROAD, LONDON, N1 7GU, 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 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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses
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:
Leasehold Improvements 10%
Office Equipment 33.33%
Furniture & Fixtures 33.33%
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.
MCGARRY ENTERTAINMENT LIMITED
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill
At 31 December 2023
573,359
Charge for the year
57,336
At 31 December 2023
535,122
At 31 December 2023
38,237
At 31 December 2022
95,573
5
Tangible fixed assets
Plant & machinery
At 31 December 2023
268,476
Charge for the year
18,608
At 31 December 2023
252,722
At 31 December 2023
15,754
At 31 December 2022
34,362
Amounts falling due within one year
Amounts due from group undertakings etc.
-
87,632
Accrued income and prepayments
9,313
1,516
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
14,879
128,649
Amounts owed to group undertakings and other participating interests
29,595
-
Taxes and social security
34,216
63,202
Other creditors
20,632
17,220
MCGARRY ENTERTAINMENT LIMITED
Notes to the Accounts
for the year ended 31 December 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Amounts owed to group undertakings and other participating interests
524,654
664,051
Of the intercompany balance above £524,654 is owed to Misaro Limited (2022 : £664,051)
9
Average number of employees
During the year the average number of employees was 8 (2022: 5).