Mgl2 Limited

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mgl2 limited Company Information

Live

EstablishedMicroDeclining

Company Number

06234510

Website

http://trinitymirror.com

Registered Address

one canada square, canary wharf, london, E14 5AP

Industry

Activities of head offices

Telephone

01514735975

Next Accounts Due

September 2024

Group Structure

View All

Directors

James Mullen4 Years

Darren Fisher1 Years

Shareholders

reach publishing group limited 100%

mgl2 limited Estimated Valuation

£96m

Pomanda estimates the enterprise value of MGL2 LIMITED at £96m based on Net Assets of £26.2m and 3.66x industry multiple (adjusted for liquidity).

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Mgl2 Limited is a live company located in london, E14 5AP with a Companies House number of 06234510. It operates in the activities of head offices sector, SIC Code 70100. Founded in May 2007, it's largest shareholder is reach publishing group limited with a 100% stake. Mgl2 Limited is a established, micro sized company, Pomanda has estimated its turnover at £15k with declining growth in recent years.

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Pomanda's financial health check has awarded Mgl2 Limited a 1 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 6 areas for improvement. Company Health Check FAQs

Health Rating1out of 5

1 Strong

2 Regular

6 Weak

Size

annual sales of £15k, make it smaller than the average company (£20.3m)

Growth

3 year (CAGR) sales growth of -71%, show it is growing at a slower rate (3.1%)

EXPORT

Mgl2 Limited's latest turnover from December 2022 is £15 thousand and the company has net assets of £26.2 million. According to their latest financial statements, Mgl2 Limited has 650 employees and maintains cash reserves of £6 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Jan 2017	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Jan 2012	Jan 2011	Jan 2010
Turnover	15,000	16,000	639,000	600,000	1,562,000	2,672,000	2,431,000	2,165,000	1,922,000	1,609,000	1,845,000	2,109,000	0	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	10,016	10,786	432,721	405,004	1,061,040	1,819,952	1,640,368	1,472,774	1,330,227	1,117,610	1,282,452	1,470,149	0	0
Gross Profit	4,984	5,214	206,279	194,996	500,960	852,048	790,632	692,226	591,773	491,390	562,548	638,851	0	0
Admin Expenses	34,151,984	41,955,214	28,156,279	11,694,996	38,152,960	29,418,048	32,821,632	46,807,226	19,885,773	86,576,390	11,686,548	13,067,851	21,186,000	7,798,000
Operating Profit	-34,147,000	-41,950,000	-27,950,000	-11,500,000	-37,652,000	-28,566,000	-32,031,000	-46,115,000	-19,294,000	-86,085,000	-11,124,000	-12,429,000	-21,186,000	-7,798,000
Interest Payable	3,908,000	4,314,000	5,119,000	0	0	0	0	0	42,400,000	39,700,000	55,800,000	0	0	0
Interest Receivable	0	0	0	0	0	0	0	0	45,400,000	46,100,000	47,500,000	0	0	0
Pre-Tax Profit	-35,876,000	-3,035,000	5,010,000	18,674,000	-10,252,000	57,334,000	-22,631,000	-33,061,000	5,167,000	-91,921,000	-19,333,000	-14,729,000	-30,786,000	-20,456,000
Tax	5,718,000	5,961,000	2,387,000	-813,000	5,332,000	3,792,000	6,798,000	10,875,000	5,548,000	5,681,000	4,883,000	3,955,000	10,343,000	6,862,000
Profit After Tax	-30,158,000	2,926,000	7,397,000	17,861,000	-4,920,000	61,126,000	-15,833,000	-22,186,000	10,715,000	-86,240,000	-14,450,000	-10,774,000	-20,443,000	-13,594,000
Dividends Paid	0	0	0	38,000,000	35,000,000	26,000,000	20,000,000	20,000,000	20,000,000	0	0	0	0	0
Retained Profit	-30,158,000	2,926,000	7,397,000	-20,139,000	-39,920,000	35,126,000	-35,833,000	-42,186,000	-9,285,000	-86,240,000	-14,450,000	-10,774,000	-20,443,000	-13,594,000
Employee Costs	32,556,000	38,777,000	27,435,000	30,117,000	30,358,000	23,018,000	15,856,000	15,414,000	20,058,000	32,918,000	30,205,000	23,718,000	22,658,000	24,552,000
Number Of Employees	650	596	465	388	440	245	137	149	227	389	410	398	344	76
EBITDA*	-27,934,000	-36,396,000	-21,386,000	-4,802,000	-33,381,000	-25,133,000	-28,882,000	-43,217,000	-17,146,000	-84,331,000	-8,914,000	-10,240,000	-18,886,000	-5,552,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Jan 2017	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Jan 2012	Jan 2011	Jan 2010
Tangible Assets	45,869,000	52,912,000	54,565,000	61,985,000	64,704,000	45,888,000	40,726,000	41,036,000	40,946,000	39,023,000	33,395,000	31,844,000	32,725,000	41,701,000
Intangible Assets	14,127,000	5,602,000	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	903,432,000	903,432,000	902,769,000	903,366,000	902,642,000	902,642,000	871,917,000	871,167,000	871,167,000	871,167,000	941,167,000	941,167,000	941,167,000	941,167,000
Debtors (Due After 1 year)	0	0	0	0	54,921,000	56,456,000	68,788,000	54,673,000	0	0	0	0	0	0
Total Fixed Assets	963,428,000	961,946,000	957,334,000	965,351,000	1,022,267,000	1,004,986,000	981,431,000	966,876,000	912,113,000	910,190,000	974,562,000	973,011,000	973,892,000	982,868,000
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	147,056,000	106,223,000	82,217,000
Misc Debtors	57,772,000	76,760,000	73,785,000	62,399,000	7,394,000	13,605,000	12,883,000	10,779,000	10,807,000	8,413,000	9,744,000	16,270,000	16,703,000	11,449,000
Cash	6,000	0	0	0	5,000	37,000	3,000	61,000	18,000	262,000	6,000	11,000	144,000	6,000
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	57,778,000	76,760,000	73,785,000	62,399,000	7,399,000	13,642,000	12,886,000	10,840,000	10,825,000	8,675,000	9,750,000	163,337,000	123,070,000	93,672,000
total assets	1,021,206,000	1,038,706,000	1,031,119,000	1,027,750,000	1,029,666,000	1,018,628,000	994,317,000	977,716,000	922,938,000	918,865,000	984,312,000	1,136,348,000	1,096,962,000	1,076,540,000
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	0	0	0	0	62,000	1,044,000	766,000	1,017,000	1,253,000	1,812,000	3,812,000	0	0	0
Group/Directors Accounts	767,731,000	713,337,000	684,239,000	682,732,000	649,746,000	586,500,000	566,403,000	494,483,000	464,582,000	453,685,000	435,275,000	578,685,000	514,383,000	465,058,000
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	116,000	172,000	174,000	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	10,976,000	16,294,000	19,163,000	26,264,000	21,501,000	14,143,000	10,552,000	9,845,000	12,231,000	15,591,000	11,682,000	11,335,000	12,088,000	16,796,000
total current liabilities	778,823,000	729,803,000	703,576,000	708,996,000	671,309,000	601,687,000	577,721,000	505,345,000	478,066,000	471,088,000	450,769,000	590,020,000	526,471,000	481,854,000
loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	35,000	180,000	353,000	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	72,000	432,000	792,000	1,152,000	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	50,484,000	50,202,000	39,238,000	24,304,000	15,347,000	13,438,000	21,484,000	40,550,000	21,997,000	10,137,000	3,059,000	2,650,000	1,968,000	462,000
total long term liabilities	216,165,000	280,628,000	349,637,000	305,320,000	320,047,000	336,038,000	415,584,000	344,922,000	256,029,000	212,769,000	240,220,000	215,025,000	152,056,000	191,377,000
total liabilities	994,988,000	1,010,431,000	1,053,213,000	1,014,316,000	991,356,000	937,725,000	993,305,000	850,267,000	734,095,000	683,857,000	690,989,000	805,045,000	678,527,000	673,231,000
net assets	26,218,000	28,275,000	-22,094,000	13,434,000	38,310,000	80,903,000	1,012,000	127,449,000	188,843,000	235,008,000	293,323,000	331,303,000	418,435,000	403,309,000
total shareholders funds	26,218,000	28,275,000	-22,094,000	13,434,000	38,310,000	80,903,000	1,012,000	127,449,000	188,843,000	235,008,000	293,323,000	331,303,000	418,435,000	403,309,000

	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Jan 2017	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Jan 2012	Jan 2011	Jan 2010
Operating Activities
Operating Profit	-34,147,000	-41,950,000	-27,950,000	-11,500,000	-37,652,000	-28,566,000	-32,031,000	-46,115,000	-19,294,000	-86,085,000	-11,124,000	-12,429,000	-21,186,000	-7,798,000
Depreciation	6,213,000	5,554,000	6,564,000	6,698,000	4,271,000	3,433,000	3,149,000	2,898,000	2,148,000	1,754,000	2,210,000	2,189,000	2,300,000	2,246,000
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	5,718,000	5,961,000	2,387,000	-813,000	5,332,000	3,792,000	6,798,000	10,875,000	5,548,000	5,681,000	4,883,000	3,955,000	10,343,000	6,862,000
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-18,988,000	2,975,000	11,386,000	84,000	-7,746,000	70,061,000	81,671,000	54,645,000	2,394,000	-1,331,000	-113,182,000	40,400,000	29,260,000	93,666,000
Creditors	0	0	0	-62,000	-982,000	1,044,000	766,000	-236,000	-559,000	-2,000,000	3,812,000	0	0	0
Accruals and Deferred Income	-5,318,000	-2,869,000	-7,101,000	4,763,000	7,358,000	14,143,000	10,552,000	-2,746,000	-3,720,000	3,549,000	746,000	-753,000	-4,708,000	16,796,000
Deferred Taxes & Provisions	282,000	10,964,000	14,934,000	8,957,000	1,909,000	13,438,000	21,484,000	18,553,000	11,860,000	7,078,000	1,091,000	682,000	1,506,000	462,000
Cash flow from operations	-8,264,000	-25,315,000	-22,552,000	7,959,000	-12,018,000	-62,777,000	-70,953,000	-71,416,000	-6,411,000	-68,692,000	114,800,000	-46,756,000	-41,005,000	-75,098,000
Investing Activities
capital expenditure	-7,695,000	-9,503,000	856,000	-3,979,000	-23,087,000	-49,321,000	-43,875,000	-2,988,000	-4,071,000	-7,382,000	-2,880,000	-1,308,000	6,676,000	-43,947,000
Change in Investments	0	663,000	-597,000	724,000	0	902,642,000	871,917,000	0	0	-70,000,000	0	0	0	941,167,000
cash flow from investments	-7,695,000	-10,166,000	1,453,000	-4,703,000	-23,087,000	-951,963,000	-915,792,000	-2,988,000	-4,071,000	62,618,000	-2,880,000	-1,308,000	6,676,000	-985,114,000
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	54,394,000	29,098,000	1,507,000	32,986,000	63,246,000	586,500,000	566,403,000	29,901,000	10,897,000	18,410,000	-79,108,000	64,302,000	49,325,000	465,058,000
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	-201,000	-175,000	527,000	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	28,101,000	47,443,000	-42,925,000	-4,737,000	-2,673,000	45,777,000	36,845,000	-19,208,000	-36,880,000	27,925,000	-110,662,000	-76,358,000	35,569,000	416,903,000
interest	-3,908,000	-4,314,000	-5,119,000	0	0	0	0	0	3,000,000	6,400,000	-8,300,000	0	0	0
cash flow from financing	78,386,000	72,052,000	-46,010,000	28,249,000	60,573,000	632,277,000	603,248,000	10,693,000	-22,983,000	52,735,000	-198,070,000	-12,056,000	84,894,000	881,961,000
cash and cash equivalents
cash	6,000	0	0	-5,000	-32,000	37,000	3,000	43,000	-244,000	256,000	-138,000	-133,000	138,000	6,000
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	6,000	0	0	-5,000	-32,000	37,000	3,000	43,000	-244,000	256,000	-138,000	-133,000	138,000	6,000

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MGL2 LIMITED group structure

Mgl2 Limited has 35 subsidiary companies.

Ultimate parent company

REACH PLC

00082548

REACH PUBLISHING GROUP LIMITED

03890730

2 parents

MGL2 LIMITED

06234510

35 subsidiaries

MGN (AW) LIMITED

02946962

OFFICIAL STARTING PRICES LTD.

02477911

MIRRORGROUP LIMITED

07680699

CENTURY COMMUNICATIONS LTD.

03285631

MGN (SERVICES) LTD

02177199

MIRRORAD LIMITED

03573736

TIMEWITH LIMITED

11183055

ODHAMS NEWSPAPERS LIMITED

02179889

MGN PROPERTY DEVELOPMENTS LIMITED

02923941

DAILY MIRROR NEWSPAPERS LIMITED(THE)

00166810

TM MOBILE SOLUTIONS LIMITED

10292426

REACH PRINTING SERVICES LIMITED

01979335

THE LIVERPOOL DAILY POST AND ECHO LIMITED

03015832

TRINITY MIRROR (L I) LIMITED

05317967

MGN (86) LIMITED

00421836

PEOPLE LIMITED(THE)

01991744

SUNDAY BRANDS LIMITED

08539340

MIRROR PROJECTS LIMITED

02822578

SCOTTISH DAILY RECORD AND SUNDAY MAIL LIMITED

SC012921

ARROW INTERACTIVE LIMITED

03521226

SCOTTISH AND UNIVERSAL NEWSPAPERS LIMITED

SC005761

CAMBERRY LIMITED

01661112

MAYFAIR CELEBS LIMITED

03143998

MIRRORNEWS LIMITED

03573742

MGN LIMITED

02571173

MIRROR GROUP NEWSPAPERS NORTH (1986) LIMITED

01348163

MGN (CANADA SQUARE) LIMITED

02892419

MEDIA SCOTLAND LIMITED

SC097566

LEGIONSTYLE LIMITED

01936042

MIRROR FINANCIAL SERVICES LIMITED

03804460

SYNDICATION INTERNATIONAL LIMITED

00850258

MIRRORAIR LIMITED

01376321

MIRRORTEL LIMITED

02820338

SUNDAY PEOPLE LIMITED

00301999

MG ESTATES LIMITED

03555219

MGL2 LIMITED Shareholders

reach publishing group limited

100%

Mgl2 Limited currently has 2 directors. The longest serving directors include Mr James Mullen (Aug 2019) and Mr Darren Fisher (Feb 2023).

officer	country	age	start	end	role
Mr James Mullen		53 years	Aug 2019	-	Director
Mr Darren Fisher	United Kingdom	58 years	Feb 2023	-	Director

P&L

December 2022

turnover

15k

-6%

operating profit

-34.1m

-19%

gross margin

33.3%

+1.95%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

December 2022

net assets

26.2m

-0.07%

total assets

-0.02%

cash

net assets

Total assets minus all liabilities

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0.5

company number

06234510

Type

Private limited with Share Capital

industry

70100 - Activities of head offices

incorporation date

May 2007

age

accounts

Full Accounts

ultimate parent company

REACH PLC

previous names

N/A

incorporated

address

one canada square, canary wharf, london, E14 5AP

last accounts submitted

December 2022

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We did not find charges/mortgages relating to mgl2 limited.

mgl2 limited Company Information

mgl2 limited Estimated Valuation

mgl2 limited Estimated Valuation

mgl2 limited Estimated Valuation

Mgl2 Limited Overview

Mgl2 Limited Health Check

MGL2 LIMITED financials

mgl2 limited Credit Report and Business Information

Mgl2 Limited Competitor Analysis

mgl2 limited Ownership

mgl2 limited directors

mgl2 limited company details

mgl2 limited Charges & Mortgages

mgl2 limited Companies House Filings - See Documents