Company Registration No. 08354155 (England and Wales)
2 Magpies SEO Limited
Unaudited accounts
for the year ended 31 January 2024
2 Magpies SEO Limited
Unaudited accounts
Contents
2 Magpies SEO Limited
Company Information
for the year ended 31 January 2024
Directors
D Johnson
S P Wellman
D Smith
Company Number
08354155 (England and Wales)
Registered Office
41 Catherine Street
Macclesfield
Cheshire
SK11 6ET
Accountants
Taylor Consultancy, Chartered Certified Accountants
Primary House
Spring Gardens
Macclesfield
Cheshire
SK10 2DX
2 Magpies SEO Limited
Statement of financial position
as at 31 January 2024
Cash at bank and in hand
18,601
32,220
Creditors: amounts falling due within one year
(135,182)
(120,123)
Net current assets
69,802
89,763
Total assets less current liabilities
70,228
90,296
Creditors: amounts falling due after more than one year
(34,565)
(39,839)
Provisions for liabilities
Called up share capital
210
210
Profit and loss account
35,371
50,145
Shareholders' funds
35,581
50,355
For the year ending 31 January 2024 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 14 October 2024 and were signed on its behalf by
D Johnson
Director
Company Registration No. 08354155
2 Magpies SEO Limited
Notes to the Accounts
for the year ended 31 January 2024
2 Magpies SEO Limited is a private company, limited by shares, registered in England and Wales, registration number 08354155. The registered office is 41 Catherine Street, Macclesfield, Cheshire, SK11 6ET.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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:
Fixtures & fittings
20% on a reducing balance
The company operates a defined contribution scheme for the beenefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
2 Magpies SEO Limited
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Trade debtors
61,283
52,566
Amounts due from group undertakings etc.
125,100
125,100
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,274
5,144
Trade creditors
28,237
29,220
Amounts owed to group undertakings and other participating interests
13,974
19,055
Taxes and social security
68,474
44,181
Other creditors
1,959
1,088
Loans from directors
918
1,338
7
Creditors: amounts falling due after more than one year
2024
2023
2 Magpies SEO Limited
Notes to the Accounts
for the year ended 31 January 2024
Allotted, called up and fully paid:
105 Ordinary shares of £1 each
105
105
35 A Ordinary Shares of £1 each
35
35
35 B Ordinary Shares of £1 each
35
35
35 C Ordinary Shares of £1 each
35
35
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Transactions with related parties
2 Magpies Holdings Ltd is the ultimate holding company of 2 Magpies SEO Limited.
During the year 2 Magpies SEO Limited declared a dividend of £124,000 (2023 - £107,000) to 2 Magpies Holdings Ltd.
At the balance sheet date 2 Magpies Holdings Limited owed £125,100 ( 2023 - (£125,100) to 2 Magpies SEO Limited. The loan is repayable upon demand and subject to interest at a commercial rate.
Mr D Smith is a director and shareholder in both Brandy Digit Limited and 2 Magpies SEO Limited.
Brady Digital Limited made a loan to 2 Magpies SEO Limited of which £13,974 (2023 - £19,055) was still outstanding at the balance sheet date. The loan is repayable upon demand and subject to interest at a commercial rate.
The company is 100% owned by 2 Magpies Holdings Ltd - Company Number 13117616
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Average number of employees
During the year the average number of employees was 5 (2023: 7).