Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 13218872 Hw Directors Limited Mr Scott Madden Cossey Cosec Services Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13218872 2022-12-31 13218872 2023-12-31 13218872 2023-01-01 2023-12-31 13218872 frs-core:CurrentFinancialInstruments 2023-12-31 13218872 frs-core:ShareCapital 2023-12-31 13218872 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13218872 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13218872 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13218872 frs-bus:SmallEntities 2023-01-01 2023-12-31 13218872 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13218872 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13218872 frs-core:CostValuation 2022-12-31 13218872 frs-core:DisposalsRepaymentsInvestments 2023-12-31 13218872 frs-core:CostValuation 2023-12-31 13218872 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 13218872 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 13218872 frs-bus:Director1 2023-01-01 2023-12-31 13218872 frs-bus:Director2 2023-01-01 2023-12-31 13218872 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 13218872 frs-countries:EnglandWales 2023-01-01 2023-12-31 13218872 2021-12-31 13218872 2022-12-31 13218872 2022-01-01 2022-12-31 13218872 frs-core:CurrentFinancialInstruments 2022-12-31 13218872 frs-core:ShareCapital 2022-12-31 13218872 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 13218872
Magentum Group Limited
Financial Statements
For The Year Ended 31 December 2023
Keates & Co Accountants Ltd
Chartered Accountants
1 Rookery House
Grove Farm
Crookham Village
Hampshire
GU51 5RX
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 13218872
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 82,651 813,286
82,651 813,286
CURRENT ASSETS
Debtors 5 133,306 119,570
Cash at bank and in hand 48,641 182
181,947 119,752
Creditors: Amounts Falling Due Within One Year 6 (421,283 ) (932,928 )
NET CURRENT ASSETS (LIABILITIES) (239,336 ) (813,176 )
TOTAL ASSETS LESS CURRENT LIABILITIES (156,685 ) 110
NET (LIABILITIES)/ASSETS (156,685 ) 110
CAPITAL AND RESERVES
Called up share capital 7 110 110
Profit and Loss Account (156,795 ) -
SHAREHOLDERS' FUNDS (156,685) 110
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Scott Madden
Director
2 September 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Magentum Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13218872 . The registered office is 4th Floor 24 Old Bond Street, Mayfair, London, W1S 4AW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: NIL)
2 -
4. Investments
Subsidiaries
£
Cost
As at 1 January 2023 813,286
Disposals (730,635 )
As at 31 December 2023 82,651
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 82,651
As at 1 January 2023 813,286
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,702 -
Amounts owed by group undertakings 116,813 77,271
Other debtors 13,791 42,299
133,306 119,570
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,968 50,997
Other loans 384,552 583,648
Amounts owed to group undertakings 32,563 263,272
Other creditors 1,200 35,011
421,283 932,928
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 110 110
Page 3