Company Registration No. 06701428 (England and Wales)
Magrun Ltd
Unaudited accounts
for the year ended 30 September 2024
Magrun Ltd
Unaudited accounts
Contents
Magrun Ltd
Company Information
for the year ended 30 September 2024
Company Number
06701428 (England and Wales)
Registered Office
39 Lower Kenwood Avenue
Enfield
EN2 7LT
England
Magrun Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
68,909
84,607
Debtors
1,492,328
1,527,995
Cash at bank and in hand
269,799
84,492
Creditors: amounts falling due within one year
(817,565)
(871,006)
Net current assets
944,562
741,481
Total assets less current liabilities
1,013,471
826,088
Creditors: amounts falling due after more than one year
(77,454)
(99,060)
Net assets
936,017
727,028
Called up share capital
1
1
Profit and loss account
936,016
727,027
Shareholders' funds
936,017
727,028
For the year ending 30 September 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 director acknowledges his 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 and authorised for issue on 25 April 2025 and were signed on its behalf by
A Magrun
Director
Company Registration No. 06701428
Magrun Ltd
Notes to the Accounts
for the year ended 30 September 2024
Magrun Ltd is a private company, limited by shares, registered in England and Wales, registration number 06701428. The registered office is 39 Lower Kenwood Avenue, Enfield, EN2 7LT, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Plant & machinery
25% on reducing method
Motor vehicles
20% on reducing method
Fixtures & fittings
25% on reducing method
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Magrun Ltd
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
10,190
120,140
1,697
132,027
Additions
425
-
2,226
2,651
At 30 September 2024
10,615
120,140
3,923
134,678
At 1 October 2023
9,132
36,821
1,467
47,420
Charge for the year
371
17,364
614
18,349
At 30 September 2024
9,503
54,185
2,081
65,769
At 30 September 2024
1,112
65,955
1,842
68,909
At 30 September 2023
1,058
83,319
230
84,607
Amounts falling due within one year
Trade debtors
(18,958)
93,045
Accrued income and prepayments
18,144
16,880
Other debtors
1,493,142
1,418,070
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
20,794
Trade creditors
45,310
103,732
Taxes and social security
135,615
100,122
Other creditors
19,746
6,851
Deferred income
513,667
623,881
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
64,954
76,560
8
Average number of employees
During the year the average number of employees was 9 (2023: 11).