MAGNET HOMES LIMITED

Company Registration Number:
13107948 (England and Wales)

Unaudited micro entity accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

MAGNET HOMES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Company Information - 3
Profit and Loss Account - 4
Balance sheet - 5
Footnotes to the Balance Sheet - 7

MAGNET HOMES LIMITED

Company Information

for the Period Ended 31 December 2023




Registered office: 8
Bucks Avenue
Watford
England
WD19 4AS
Company Registration Number: 13107948 (England and Wales)

MAGNET HOMES LIMITED

Profit and Loss Account

for the Period Ended 31 December 2023


2023
£

2022
£
Turnover 69,583 22,710
Income from coronavirus (COVID-19) business support grants 0 0
Other Income 0 0
Cost of Materials ( 25,452 ) ( 59,097 )
Staff Costs ( 0 ) ( 0 )
Depreciation and Writeoffs ( 0 ) ( 0 )
Other charges ( 181,695 ) ( 63,824 )
Tax on Profit ( 0 ) ( 0 )
Profit or (Loss) for Period ( 137,564 ) ( 100,211 )

MAGNET HOMES LIMITED

Balance sheet

As at 31 December 2023


2023
£

2022
£
Called up share capital not paid: 0 0
Fixed Assets: 595,000 574,235
Current assets: 3,000 3,578
Prepayments and accrued income: 0 22,710
Creditors: amounts falling due within one year: ( 70,000 ) ( 135,000 )
Net current assets (liabilities): ( 67,000 ) ( 108,712 )
Total assets less current liabilities: 528,000 465,523
Creditors: amounts falling due after more than one year: ( 592,133 ) ( 620,724 )
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): ( 64,133 ) ( 155,201 )
Capital and reserves: ( 64,133 ) ( 155,201 )

MAGNET HOMES LIMITED

Balance sheet continued

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions of the small companies regime applicable to micro-entities.

This report was approved by the board of directors on 20 August 2024
And Signed On Behalf Of The Board By:

Name: Gerrard Ball
Status: Director

The notes form part of these financial statements

MAGNET HOMES LIMITED

Footnotes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Employee Information

    Average number of employees: 0

MAGNET HOMES LIMITED

Footnotes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Off balance sheet disclosure

    The money loan to Magnet Homes Ltd in order to purchase the assets is to be repaid to the director as the income allows. interest of 12% is applied against this unsecured loan which is due at the end of the agreement. The same applies to the credit cards used to fund the refurbishments and furnishing of magnet homes assets in order to generate revenue.