MGN LIMITED

1. MGN LIMITED 1991-04-16 → present
2. LEGIBUS 1606 LIMITED 1991-01-02 → 1991-04-16

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the date of signing of these financial statements the directors have considered all the factors impacting the Company's business, including downside sensitivities and the strong balance sheet of Reach plc. The directors therefore have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the company's financial statements.”

Group structure

1. MGN LIMITED · parent
   1. City Television Network Limited 0.5% · England and Wales
   2. Mirror Colour Print Services Limited 0.5% · England and Wales
   3. RH1 Limited 1% · England and Wales
   4. Reach Publishing (Ireland) Limited 1% · Ireland

Significant events

• “The annual impairment review of intangible assets resulted in an impairment charge of £3,524,000 (2023: £34,347,000).”
• “Operating profit has increased from an operating loss of £10,233,000 to an operating profit of £29,182,000, primarily due to a lower impairment charge recognised in the year in respect of intangible assets and implementation of our 2023 restructuring and efficiency programme in early 2024 reducing operating costs.”
• “The net assets of the Company have decreased by £795,000 (2023: decrease of £55,583,000) due to the profit for the period less dividends paid.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -4.7%

  £183,130,000 → £174,530,000

• Cash

  -26.8%

  £157,000 → £115,000

• Net assets

  -0.1%

  £870,922,000 → £870,128,000

• Employees

  -8.5%

  1,021 → 934

• Operating profit

  +385.2%

  -£10,233,000 → £29,182,000

• Profit before tax

  +383.2%

  -£10,287,000 → £29,132,000

• Wages

  -6.4%

  £57,486,000 → £53,832,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers