3 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 2,000,295 1,742 320,000 84,136 1,766,173 1,766,173 2,000,295 xbrli:pure xbrli:shares iso4217:GBP 06895975 2024-01-01 2024-12-31 06895975 2024-12-31 06895975 2023-12-31 06895975 2023-01-01 2023-12-31 06895975 2023-12-31 06895975 2022-12-31 06895975 core:FurnitureFittings 2024-01-01 2024-12-31 06895975 bus:Director1 2024-01-01 2024-12-31 06895975 bus:Director2 2024-01-01 2024-12-31 06895975 core:FurnitureFittings 2023-12-31 06895975 core:FurnitureFittings 2024-12-31 06895975 core:MotorVehicles 2024-12-31 06895975 core:MotorVehicles 2024-01-01 2024-12-31 06895975 core:WithinOneYear 2024-12-31 06895975 core:WithinOneYear 2023-12-31 06895975 core:ShareCapital 2024-12-31 06895975 core:ShareCapital 2023-12-31 06895975 core:RetainedEarningsAccumulatedLosses 2024-12-31 06895975 core:RetainedEarningsAccumulatedLosses 2023-12-31 06895975 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 06895975 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-12-31 06895975 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-12-31 06895975 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-12-31 06895975 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 06895975 core:Non-currentFinancialInstruments 2024-12-31 06895975 core:Non-currentFinancialInstruments 2023-12-31 06895975 core:FurnitureFittings 2023-12-31 06895975 bus:Director1 2023-12-31 06895975 bus:Director1 2024-12-31 06895975 bus:Director2 2023-12-31 06895975 bus:Director2 2024-12-31 06895975 bus:Director1 2022-12-31 06895975 bus:Director1 2023-12-31 06895975 bus:Director2 2022-12-31 06895975 bus:Director2 2023-12-31 06895975 bus:Director1 2023-01-01 2023-12-31 06895975 bus:Director2 2023-01-01 2023-12-31 06895975 bus:SmallEntities 2024-01-01 2024-12-31 06895975 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06895975 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06895975 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06895975 bus:FullAccounts 2024-01-01 2024-12-31 06895975 core:ComputerEquipment 2024-01-01 2024-12-31 06895975 core:ComputerEquipment 2023-12-31 06895975 core:ComputerEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 06895975
Niall Maguire Limited
Filleted Unaudited Financial Statements
31 December 2024
Niall Maguire Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
69,212
1,625
Investments
6
1,766,173
2,000,295
------------
------------
1,835,385
2,001,920
Current assets
Debtors
7
3,069,065
2,873,860
Cash at bank and in hand
2,785,246
2,690,690
------------
------------
5,854,311
5,564,550
Creditors: amounts falling due within one year
8
153,320
38,949
------------
------------
Net current assets
5,700,991
5,525,601
------------
------------
Total assets less current liabilities
7,536,376
7,527,521
------------
------------
Net assets
7,536,376
7,527,521
------------
------------
Capital and reserves
Called up share capital
20
20
Profit and loss account
7,536,356
7,527,501
------------
------------
Shareholders funds
7,536,376
7,527,521
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Niall Maguire Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 11 August 2025 , and are signed on behalf of the board by:
Mr N Maguire
Director
Company registration number: 06895975
Niall Maguire Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Clovelly Avenue, Warlingham, Surrey, CR6 9HZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover in the profit and loss represents trading income earned during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% straight line
Computer Equipment
-
50% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2024
1,216
9,125
10,341
Additions
90,945
1,173
92,118
-------
--------
--------
---------
At 31 December 2024
1,216
90,945
10,298
102,459
-------
--------
--------
---------
Depreciation
At 1 January 2024
495
8,221
8,716
Charge for the year
304
24,227
24,531
-------
--------
--------
---------
At 31 December 2024
799
32,448
33,247
-------
--------
--------
---------
Carrying amount
At 31 December 2024
417
90,945
( 22,150)
69,212
-------
--------
--------
---------
At 31 December 2023
721
904
1,625
-------
--------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 January 2024
2,000,295
Additions
1,742
Disposals
( 320,000)
Revaluations
84,136
------------
At 31 December 2024
1,766,173
------------
Impairment
At 1 January 2024 and 31 December 2024
------------
Carrying amount
At 31 December 2024
1,766,173
------------
At 31 December 2023
2,000,295
------------
7. Debtors
2024
2023
£
£
Other debtors
3,069,065
2,873,860
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
79,688
37,449
Other creditors
73,632
1,500
---------
--------
153,320
38,949
---------
--------
9. Financial instruments
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr N Maguire
53,618
( 53,000)
618
Mrs A Maguire
53,617
69,316
( 195,183)
( 72,250)
---------
--------
---------
--------
107,235
69,316
( 248,183)
( 71,632)
---------
--------
---------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr N Maguire
8,100
70,613
( 25,097)
53,616
Mrs A Maguire
8,102
70,614
( 25,097)
53,619
--------
---------
--------
---------
16,202
141,227
( 50,194)
107,235
--------
---------
--------
---------
Overdrawn directors loan accounts are charged interest in line with HMRC guidelines. No interest is charged if directors loan account has a credit balance.
11. Related party transactions
The company was under the control of Mr N Maguire throughout the current and previous year. Mr N Maguire is the managing director and majority shareholder. In a prior period, the company made a loan to Maguire Futures Limited, a company which the directors N Maguire & A Maguire are also directors. During the year £10,000 was repaid (2023: £nil). The amount outstanding at the year end was £10,000 (2023: £20,000). This loan is interest free, unsecured and repayable on demand. During the year Niall Maguire Limited made a loan of £47,500 to Eunicon Sporting Management Limited (2023: £30,000), a company which the director N Maguire is also a director. The outstanding balance on this loan at the year end was £158,920 (2023: £111,420). This loan is interest free, unsecured and repayable on demand. During the year Eunicon Properties Limited, a company which the directors N Maguire & A Maguire are also directors, made a loan of £228,000 to Niall Maguire Limited (2023: Repaid Loan of £20,000). The outstanding balance on this loan at the year end was £1,355,000 (2023: £1,127,000). This loan is interest free, unsecured and repayable on demand. No further transactions with related parties were undertaken such as is required to be disclosed under the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.