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Company Registration No. 06701428 (England and Wales)
Magrun Ltd Unaudited accounts for the year ended 30 September 2024
Magrun Ltd Unaudited accounts Contents
Page
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Magrun Ltd Company Information for the year ended 30 September 2024
Director
A Magrun
Company Number
06701428 (England and Wales)
Registered Office
39 Lower Kenwood Avenue Enfield EN2 7LT England
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Magrun Ltd Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
68,909 
84,607 
Current assets
Debtors
1,492,328 
1,527,995 
Cash at bank and in hand
269,799 
84,492 
1,762,127 
1,612,487 
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 
Capital and reserves
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
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Magrun Ltd Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Leased assets
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.
Pension costs
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.
Financial instruments
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.
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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 
Depreciation
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 
Net book value
At 30 September 2024
1,112 
65,955 
1,842 
68,909 
At 30 September 2023
1,058 
83,319 
230 
84,607 
5
Debtors
2024 
2023 
£ 
£ 
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 
1,492,328 
1,527,995 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
20,794 
VAT
86,927 
11,226 
Trade creditors
45,310 
103,732 
Taxes and social security
135,615 
100,122 
Other creditors
19,746 
6,851 
Accruals
6,300 
4,400 
Deferred income
513,667 
623,881 
817,565 
871,006 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,500 
22,500 
Obligations under finance leases and hire purchase contracts
64,954 
76,560 
77,454 
99,060 
8
Average number of employees
During the year the average number of employees was 9 (2023: 11).
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