Magari Partners Ltd - Filleted accounts

Company Registration Number

09239752

Magari Partners Ltd

Filleted Accounts

30 September 2024

Magari Partners Ltd
Registered number:		09239752
Balance Sheet
as at 30 September 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		133,000			133,000

Current assets
Cash at bank and in hand		35,869			23,737

Creditors: amounts falling due within one year	5	(49,486)			(34,247)

Net current liabilities			(13,617)			(10,510)

Net assets			119,383			122,490

Capital and reserves
Called up share capital			1			1
Profit and loss account			119,382			122,489

Shareholders' funds			119,383			122,490

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr A S Mahal
Director
Approved by the board on 20 June 2025

Magari Partners Ltd
Notes to the Accounts
for the year ended 30 September 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Goodwill
	Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful ecomonic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment	25% per annum reducing balance

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		2		2


3	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 October 2023				133,000
	At 30 September 2024				133,000

	Amortisation
	At 30 September 2024				-

	Net book value
	At 30 September 2024				133,000
	At 30 September 2023				133,000

	Goodwill is not being written off.


4	Tangible fixed assets
					Fixtures and fittings
£
	Cost
	At 1 October 2023				696
	At 30 September 2024				696

	Depreciation
	At 1 October 2023				696
	At 30 September 2024				696

	Net book value
	At 30 September 2024				-


5	Creditors: amounts falling due within one year		2024		2023
£				£

	Taxation and social security costs		32,157		14,006
	Other creditors		17,329		20,241
			49,486		34,247


6	Other information

	Magari Partners Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Flat 3
	57 Buckingham Gate
	London
	SW1E 6AJ