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REGISTERED NUMBER: 05954749 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

M.A.G. Financial Services Limited

M.A.G. Financial Services Limited (Registered number: 05954749)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M.A.G. Financial Services Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: M A Goldstone





SECRETARY: Mrs L M Goldstone





REGISTERED OFFICE: 3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ





REGISTERED NUMBER: 05954749 (England and Wales)





ACCOUNTANTS: Haines Watts
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

M.A.G. Financial Services Limited (Registered number: 05954749)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 7,555 8,641
Investments 5 50,000 50,000
57,555 58,641

CURRENT ASSETS
Debtors 6 5,202 3,975
Investments 7 35,290 35,290
Cash at bank 73,059 116,912
113,551 156,177
CREDITORS
Amounts falling due within one year 8 108,839 103,775
NET CURRENT ASSETS 4,712 52,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,267

111,043

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 62,167 110,943
SHAREHOLDERS' FUNDS 62,267 111,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M.A.G. Financial Services Limited (Registered number: 05954749)

Balance Sheet - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





M A Goldstone - Director


M.A.G. Financial Services Limited (Registered number: 05954749)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

M.A.G. Financial Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Turnover
Turnover represents commissions and fees received from investments on behalf of clients.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 November 2023 25,012 17,434 42,446
Additions 1,063 - 1,063
At 31 October 2024 26,075 17,434 43,509
DEPRECIATION
At 1 November 2023 16,371 17,434 33,805
Charge for year 2,149 - 2,149
At 31 October 2024 18,520 17,434 35,954
NET BOOK VALUE
At 31 October 2024 7,555 - 7,555
At 31 October 2023 8,641 - 8,641

M.A.G. Financial Services Limited (Registered number: 05954749)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 November 2023
and 31 October 2024 50,000
NET BOOK VALUE
At 31 October 2024 50,000
At 31 October 2023 50,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£ £
Other debtors 5,202 3,975

7. CURRENT ASSET INVESTMENTS
31.10.24 31.10.23
£ £
Other 35,290 35,290

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£ £
Taxation and social security 101,129 99,435
Other creditors 7,710 4,340
108,839 103,775

9. ULTIMATE CONTROLLING PARTY

The controlling party is M A Goldstone.