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
MAGNETIC ACCOUNTANCY LTD
Company Information
for the year ended 31 January 2025
Company Number
11145733 (England and Wales)
Registered Office
Unit 11
Glebe Farm
Farthinghoe
Northants
NN13 6DN
MAGNETIC ACCOUNTANCY LTD
Statement of financial position
as at 31 January 2025
Tangible assets
13,026
14,265
Cash at bank and in hand
23,067
24,152
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)
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
MAGNETIC ACCOUNTANCY LTD
Notes to the Accounts
for the year ended 31 January 2025
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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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
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
At 31 January 2025
11,203
1,437
386
13,026
At 31 January 2024
12,038
1,596
631
14,265
Amounts falling due within one year
MAGNETIC ACCOUNTANCY LTD
Notes to the Accounts
for the year ended 31 January 2025
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Creditors: amounts falling due within one year
2025
2024
Taxes and social security
2,415
16,981
Other creditors
5,098
8,145
Loans from directors
1,491
(4,681)
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 5 (2024: 5).