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Registered Number: 08895264
England and Wales

 

 

 

MAGOK UK LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,015    2,536 
2,015    2,536 
Current assets      
Cash at bank and in hand 4,050    19,262 
Creditors: amount falling due within one year (1,138)   (2,290)
Net current assets 2,912    16,972 
 
Total assets less current liabilities 4,927    19,508 
Net assets 4,927    19,508 
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account 4,925    19,506 
Shareholders' funds 4,927    19,508 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 08 January 2025 and were signed by:


-------------------------------
Magdalene Onyeka OKOROIGWE
Director
1
General Information
MAGOK UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08895264, registration address 24 Crosby Road,, Dagenham, , London, Essex, , RM10 9AX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company net of trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2023 500    3,634    4,134 
Additions    
Disposals    
At 29 February 2024 500    3,634    4,134 
Depreciation
At 01 March 2023 219    1,379    1,598 
Charge for year 70    451    521 
On disposals    
At 29 February 2024 289    1,830    2,119 
Net book values
Closing balance as at 29 February 2024 211    1,804    2,015 
Opening balance as at 01 March 2023 281    2,255    2,536 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

2