Magwarren Limited - Period Ending 2019-12-31

Registration number: 09337721

Magwarren Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2019

Clever Accounts Limited
Brookfield Court
Selby Road
Leeds
LS25 1NB

 

Magwarren Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 4

Magwarren Limited

Company Information

Director

Mr Warren MacFarlane

Registered office

Carrwood Park Selby Road Leeds West Yorkshire LS15 4LG

Accountants

Clever Accounts Limited Brookfield Court Selby Road Leeds LS25 1NB

Page 1

Magwarren Limited

(Registration number: 09337721)
Balance Sheet as at 31 December 2019

	Note	2019 £	2018 £
Current assets
Cash at bank and in hand		3,328	3,328
Creditors: Amounts falling due within one year		(10,350)	(10,190)
Net liabilities		(7,022)	(6,862)
Capital and reserves
Called up share capital	4	10	10
Profit and loss account		(7,032)	(6,872)
Shareholders' deficit		(7,022)	(6,862)

For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 September 2020
 

.........................................

Mr Warren MacFarlane
Director

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 3 to 4 form an integral part of these financial statements.

Page 2

Magwarren Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Carrwood Park
Selby Road
Leeds
West Yorkshire
LS15 4LG
England

These financial statements were authorised for issue by the director on 29 September 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Page 3

Magwarren Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

4	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	10	10	10	10

Page 4