2023-01-01 08652243 2023-12-31 08652243 2023-01-01 2023-12-31 08652243 2022-12-31 08652243 2022-01-01 2022-12-31 08652243 uk-core:WithinOneYear 2022-12-31 08652243 uk-core:WithinOneYear 2023-12-31 08652243 uk-core:ShareCapital 2023-12-31 08652243 uk-core:ShareCapital 2022-12-31 08652243 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 08652243 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 08652243 uk-bus:Director1 2023-01-01 2023-12-31 08652243 uk-core:ComputerEquipment 2023-01-01 2023-12-31 08652243 uk-core:FurnitureFittings 2023-01-01 2023-12-31 08652243 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 08652243 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 08652243 uk-core:ComputerEquipment 2022-12-31 08652243 uk-core:FurnitureFittings 2022-12-31 08652243 uk-core:FurnitureFittings 2023-12-31 08652243 uk-core:ComputerEquipment 2023-12-31 08652243 uk-core:WithinOneYear 2023-12-31 08652243 uk-core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure 08652243 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08652243 uk-bus:FRS102 2023-01-01 2023-12-31 08652243 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 08652243 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Magnetix Therapy Limited
Registered Number:08652243
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Magnetix Therapy Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
08652243
As at 31 December 2023
Magnetix Therapy Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Intangible assets
9,182
9,182
2
Property, plant and equipment
1,975
1,572
3
11,157
10,754
Current assets
Inventories
15,858
20,411
4
Trade and other receivables
-
(19)
5
13,974
Cash and cash equivalents
10,810
31,202
29,832
Trade and other payables: amounts falling due within one
year
(40,252)
(41,121)
6
(10,420)
(9,919)
Net current liabilities
Total assets less current liabilities
1,238
334
(375)
(288)
Provisions for liabilities
863
Net assets
46
Capital and reserves
Called up share capital
4
4
Retained earnings
859
42
863
46
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Miss Samantha Gilhooley Director
These financial statements were approved and authorised for issue by the Board on 28 August 2024 and were signed by:
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4
Registered Number :
08652243
For the year ended 31 December 2023
Magnetix Therapy Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 December 2023
Magnetix Therapy Limited
Notes to the Financial Statements
Statutory Information
Magnetix Therapy Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 08652243.
Registered address:
26 Portland Grove
Haslington
Crewe
Cheshire
CW1 5TY
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Reducing balance
Computer Equipment
15% Reducing balance
Furniture and Fittings
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
2. Intangible fixed assets
Other
Intangible
Assets
Cost or valuation
£
At 01 January 2023
9,182
At 31 December 2023
9,182
Net book value
At 31 December 2023
9,182
At 31 December 2022
9,182
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6
For the year ended 31 December 2023
Magnetix Therapy Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
£
£
£
Cost or
valuation
At 01 January 2023
2,676
676
2,000
832
832
-
Additions
At 31 December 2023
2,000
1,508
3,508
Provision for depreciation and impairment
At 01 January 2023
1,104
148
956
Charge for year
429
272
157
At 31 December 2023
1,533
420
1,113
At 31 December 2023
Net book value
887
1,088
1,975
At 31 December 2022
1,044
528
1,572
4. Inventories
2022
2023
£
£
Stocks
20,411
15,858
5. Trade and other receivables
2022
2023
£
£
Trade debtors
(19)
-
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
13,420
17,049
Trade creditors
11,456
11,749
Taxation and social security
7,460
7,193
Other creditors
8,785
4,261
41,121
40,252
7. Average number of persons employed
During the year the average number of employees was 2 (2022 : 2)
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7
For the year ended 31 December 2023
Magnetix Therapy Limited
Notes to the Financial Statements Continued
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