2024-01-012024-12-312024-12-31false05599828MAGNETIC HCA 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MAGNETIC HCA LIMITED

Registered Number
05599828
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

MAGNETIC HCA LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

BROADHURST, Stephen John
COOK, Mark Stuart
HUNT, Barry
HUNT, Matthew James
MCCREADY, Fiona Marion

Company Secretary

HUNT, Matthew James

Registered Address

The Organ Works Turnham Green Terrace Mews
Chiswick
London
W4 1QU

Registered Number

05599828 (England and Wales)
MAGNETIC HCA LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3499,17228,901
499,17228,901
Current assets
Debtors721,831560,275
Cash at bank and on hand373,540547,791
1,095,3711,108,066
Creditors amounts falling due within one year4(457,804)(358,700)
Net current assets (liabilities)637,567749,366
Total assets less current liabilities1,136,739778,267
Net assets1,136,739778,267
Capital and reserves
Called up share capital50,84350,850
Profit and loss account1,085,896727,417
Shareholders' funds1,136,739778,267
The financial statements were approved and authorised for issue by the Board of Directors on 14 February 2025, and are signed on its behalf by:
HUNT, Matthew James
Director
Registered Company No. 05599828
MAGNETIC HCA LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings50
Fixtures and fittings5
Office Equipment4
2.Average number of employees

20242023
Average number of employees during the year2624
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 January 24--66,11266,112
Additions470,3477,8198,972487,138
Disposals--(20,135)(20,135)
At 31 December 24470,3477,81954,949533,115
Depreciation and impairment
At 01 January 24--37,21137,211
Charge for year3,37188312,61416,868
On disposals--(20,136)(20,136)
At 31 December 243,37188329,68933,943
Net book value
At 31 December 24466,9766,93625,260499,172
At 31 December 23--28,90128,901
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables187,29282,896
Bank borrowings and overdrafts240240
Taxation and social security51,22162,057
Other creditors219,051213,507
Total457,804358,700