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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
Page
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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
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2 Magpies SEO Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
426 
533 
Current assets
Debtors
186,383 
177,666 
Cash at bank and in hand
18,601 
32,220 
204,984 
209,886 
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
Deferred tax
(82)
(102)
Net assets
35,581 
50,355 
Capital and reserves
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
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2 Magpies SEO Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Pension costs
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 taxation
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.
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2 Magpies SEO Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 February 2023
833 
At 31 January 2024
833 
Depreciation
At 1 February 2023
300 
Charge for the year
107 
At 31 January 2024
407 
Net book value
At 31 January 2024
426 
At 31 January 2023
533 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
61,283 
52,566 
Amounts due from group undertakings etc.
125,100 
125,100 
186,383 
177,666 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,274 
5,144 
VAT
14,596 
18,347 
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 
Accruals
1,750 
1,750 
135,182 
120,123 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
34,565 
39,839 
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2 Magpies SEO Limited Notes to the Accounts for the year ended 31 January 2024
8
Share capital
2024 
2023 
£ 
£ 
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 
210 
210 
9
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.
10
Controlling party
The company is 100% owned by 2 Magpies Holdings Ltd - Company Number 13117616
11
Average number of employees
During the year the average number of employees was 5 (2023: 7).
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