MGN LIMITED
Operating as a private subsidiary of the listed Reach plc group, the company publishes national British newspapers including The Mirror.
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Cash
£39k
-66.1% lowest in 3 filed years
Net assets
£804m
-7.6% lowest in 3 filed years
Employees
827
-11.5% lowest in 3 filed years
Profit before tax
-£60m
-305.9% lowest in 3 filed years
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £183,130,000 | £174,530,000 | £171,438,000 | -1.8% | |
| Operating profit | -£10,233,000 | £29,182,000 | -£59,937,000 | -305.4% | |
| Profit before tax | -£10,287,000 | £29,132,000 | -£59,972,000 | -305.9% | |
| Net profit | -£15,583,000 | £23,784,000 | -£66,226,000 | -378.4% | |
| Cash | £157,000 | £115,000 | £39,000 | -66.1% | |
| Total assets less current liabilities | £878,991,000 | £874,791,000 | £808,022,000 | -7.6% | |
| Net assets | £870,922,000 | £870,128,000 | £804,401,000 | -7.6% | |
| Equity | £870,922,000 | £870,128,000 | £804,401,000 | -7.6% | |
| Average employees | 1,021 | 934 | 827 | -11.5% | |
| Wages | £57,486,000 | £53,832,000 | £49,116,000 | -8.8% | |
| Directors' remuneration | — | — | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | -5.6% | 16.7% | -35.0% | |
| Net margin | -8.5% | 13.6% | -38.6% | |
| Return on capital employed | -1.2% | 3.3% | -7.4% | |
| Gearing (liabilities / total assets) | 2.1% | 1.7% | 1.5% | |
| Current ratio | 59.46x | 58.97x | 76.83x |
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.
Name history
Renamed 1 time since incorporation
- MGN LIMITED 1991-04-16 → present
- LEGIBUS 1606 LIMITED 1991-01-02 → 1991-04-16
Audit & accounting basis
- 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
- MGN LIMITED · parent
- City Television Network Limited 50%
- Mirror Colour Print Services Limited 50%
- RH1 Limited 100%
- Reach Publishing (Ireland) Limited 100%
Significant events
- “On 8 December 2025, the issued share capital of the Company was reduced from £100,000,000 to £1,000,000 by cancelling and extinguishing 99,000,000 of the issued ordinary shares of £1.00 each, creating distributable reserves of the same amount within retained earnings.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 27 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| REACH SECRETARIES LIMITED | Corporate Secretary | 2001-12-10 | — | — |
| FISHER, Darren | Director | 2023-02-14 | May 1966 | Australian,British |
| NORTH, Piers Michael | Director | 2025-03-31 | Jan 1976 | British |
| REACH DIRECTORS LIMITED | Corporate Director | 2001-12-10 | — | — |
Show 27 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| VICKERS, Paul Andrew | Secretary | — | 2001-12-10 |
| SISEC LIMITED | Corporate Nominee Secretary | — | 1994-01-02 |
| ALLWOOD, Charles John | Director | — | 2000-07-20 |
| BAILEY, Sylvia Gillian | Director | 2009-03-24 | 2012-06-15 |
| BANKS, Arthur David | Director | 1994-05-06 | 1999-01-19 |
| BARBER, Stephen David | Director | 1999-03-03 | 1999-09-30 |
| BIRD, John | Director | 1993-04-20 | 1995-01-31 |
| BROWN, Philip | Director | 2009-03-26 | 2013-05-17 |
| CONNOR, Terence Michael | Director | 1993-01-20 | 1999-09-30 |
| EASTOE, Roger William | Director | — | 2000-09-13 |
| EWING, Margaret | Director | 2000-07-20 | 2001-12-10 |
| FOX, Simon Richard | Director | 2013-05-17 | 2019-08-16 |
| FULLER, Simon Jeremy Ian | Director | 2019-03-01 | 2022-12-31 |
| GREGORY, Robert Benedict | Director | — | 1996-12-09 |
| HOLLINSHEAD, Mark Thomas | Director | 2013-05-17 | 2014-12-12 |
| HORWOOD, Victor Lindsay | Director | — | 1993-01-22 |
| MACLENNAN, Murdoch | Director | — | 1995-01-02 |
| MULLEN, James Joseph | Director | 2019-08-16 | 2025-03-31 |
| PLATELL, Amanda Jane | Director | 1993-06-15 | 1997-03-03 |
| PRITCHETT, Mark Carr | Director | — | 2000-12-19 |
| RIKLIN, Cornel Carl | Director | 1995-07-19 | 1999-12-03 |
| RIMMER, Robert | Director | 1993-04-20 | 1997-05-13 |
| VAGHELA, Vijay Kumar Lakhman Meghji | Director | 2009-03-24 | 2019-06-30 |
| VICKERS, Paul Andrew | Director | 2009-03-24 | 2014-11-17 |
| VICKERS, Paul Andrew | Director | 1993-01-20 | 2001-12-10 |
| WALKER, Norman Michael | Director | 1995-07-19 | 2001-12-10 |
| WILSON, Charles Martin | Director | — | 1998-01-15 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mgl2 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 272 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-12-09 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-22 | AA | accounts | Accounts with accounts type full | |
| 2026-01-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-09 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-12-09 | SH20 | capital | Legacy | |
| 2025-12-09 | CAP-SS | insolvency | Legacy | |
| 2025-12-09 | RESOLUTIONS | resolution | Resolution | |
| 2025-08-12 | AA | accounts | Accounts with accounts type full | |
| 2025-04-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-10 | AA | accounts | Accounts with accounts type full | |
| 2024-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-15 | AA | accounts | Accounts with accounts type full | |
| 2023-02-17 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-09 | TM01 | officers | Termination director company with name termination date | |
| 2023-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-28 | AA | accounts | Accounts with accounts type full | |
| 2022-03-15 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2022-01-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-30 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 2
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.