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Company Registration No. 11145733 (England and Wales)
MAGNETIC ACCOUNTANCY LTD Unaudited accounts for the year ended 31 January 2025
MAGNETIC ACCOUNTANCY LTD Unaudited accounts Contents
Page
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MAGNETIC ACCOUNTANCY LTD Company Information for the year ended 31 January 2025
Director
OWEN WOODGATE
Company Number
11145733 (England and Wales)
Registered Office
Unit 11 Glebe Farm Farthinghoe Northants NN13 6DN
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MAGNETIC ACCOUNTANCY LTD Statement of financial position as at 31 January 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
13,026 
14,265 
Current assets
Debtors
4,307 
3,557 
Cash at bank and in hand
23,067 
24,152 
27,374 
27,709 
Creditors: amounts falling due within one year
(32,387)
(31,379)
Net current liabilities
(5,013)
(3,670)
Total assets less current liabilities
8,013 
10,595 
Creditors: amounts falling due after more than one year
(3,838)
(5,838)
Net assets
4,175 
4,757 
Capital and reserves
Profit and loss account
4,175 
4,757 
Shareholders' funds
4,175 
4,757 
For the year ending 31 January 2025 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 February 2025 and were signed on its behalf by
OWEN WOODGATE Director Company Registration No. 11145733
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MAGNETIC ACCOUNTANCY LTD Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
MAGNETIC ACCOUNTANCY LTD is a private company, limited by shares, registered in England and Wales, registration number 11145733. The registered office is Unit 11, Glebe Farm, Farthinghoe, Northants, NN13 6DN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
15 Years - Straight Line
Fixtures & fittings
10 Years - Straight Line
Computer equipment
3 years - Straight Line
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2024
12,525 
1,596 
736 
14,857 
At 31 January 2025
12,525 
1,596 
736 
14,857 
Depreciation
At 1 February 2024
487 
- 
105 
592 
Charge for the year
835 
159 
245 
1,239 
At 31 January 2025
1,322 
159 
350 
1,831 
Net book value
At 31 January 2025
11,203 
1,437 
386 
13,026 
At 31 January 2024
12,038 
1,596 
631 
14,265 
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,307 
3,557 
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MAGNETIC ACCOUNTANCY LTD Notes to the Accounts for the year ended 31 January 2025
6
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
VAT
22,930 
10,811 
Trade creditors
453 
123 
Taxes and social security
2,415 
16,981 
Other creditors
5,098 
8,145 
Loans from directors
1,491 
(4,681)
32,387 
31,379 
7
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
3,838 
5,838 
8
Average number of employees
During the year the average number of employees was 5 (2024: 5).
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