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Registered Number: 09178959
England and Wales

 

 

 

MAGUS COMMUNICATIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director C Bunting
Registered Number 09178959
Registered Office PO Box RO DSA
124 City Road
London
EC1V 2NX
Accountants Cocke Vellacott & Hill
Unit 15 City Business Centre
Lower Road
London
SE16 2XB
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 20,145    26,488 
Tangible fixed assets 4 2,195    2,578 
22,340    29,066 
Current assets      
Debtors: amounts falling due within one year 5 11,159    12,106 
Cash at bank and in hand 75,385    75,960 
86,544    88,066 
Creditors: amount falling due within one year 6 (10,199)   (12,126)
Net current assets 76,345    75,940 
 
Total assets less current liabilities 98,685    105,006 
Provisions for liabilities 7 282    310 
Net assets 98,967    105,316 
 

Capital and reserves
     
Called up share capital 8 2    2 
Profit and loss account 98,965    105,314 
Shareholders' funds 98,967    105,316 
 


For the year ended 31 August 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 financial statements were approved by the director on 10 March 2025 and were signed by:


-------------------------------
C Bunting
Director
2
General Information
Magus Communications Limited is a private company, limited by shares, registered in England and Wales, registration number 09178959, registration address PO Box RO DSA, 124 City Road, London, EC1V 2NX.

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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
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:
Plant and Machinery 20% Reducing Balance
Computer Equipment 5 years Straight Line
2.

Average number of employees


Average number of employees during the year was 2 (2023 : 2).
3.

Intangible fixed assets

Cost Patent costs written off over 5 years on a straight line basis   Total
  £   £
At 01 September 2023 49,667    49,667 
Additions 4,488    4,488 
Disposals  
At 31 August 2024 54,155    54,155 
Amortisation
At 01 September 2023 23,179    23,179 
Charge for year 10,831    10,831 
On disposals  
At 31 August 2024 34,010    34,010 
Net book values
At 31 August 2024 20,145    20,145 
At 31 August 2023 26,488    26,488 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 September 2023 2,745    2,529    5,274 
Additions   519    519 
Disposals    
At 31 August 2024 2,745    3,048    5,793 
Depreciation
At 01 September 2023 1,290    1,406    2,696 
Charge for year 291    611    902 
On disposals    
At 31 August 2024 1,581    2,017    3,598 
Net book values
Closing balance as at 31 August 2024 1,164    1,031    2,195 
Opening balance as at 01 September 2023 1,455    1,123    2,578 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 6,089    7,326 
Prepayments & Accrued Income 100    100 
PAYE & Social Security   60 
Directors' Current Accounts 4,970    4,620 
11,159    12,106 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 147   
Corporation Tax 872   
PAYE & Social Security 610   
Accrued Expenses 1,225    1,361 
Rounding  
VAT 7,345    10,765 
10,199    12,126 

7.

Provisions for liabilities

2024
£
  2023
£
Pension Provisions (282)   (310)
(282)   (310)

8.

Share Capital

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

3