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Company Registration No. 03575627 (England and Wales)
NanoMagnetics Instruments Limited Unaudited accounts for the year ended 31 May 2024
NanoMagnetics Instruments Limited Unaudited accounts Contents
Page
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NanoMagnetics Instruments Limited Company Information for the year ended 31 May 2024
Director
Mr A Oral
Company Number
03575627 (England and Wales)
Registered Office
Suite 290 266 Banbury Road Oxford OX2 7DL
Accountants
Fabian Hunt Midhurst Old Boars Hill Oxford OX1 5JQ
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NanoMagnetics Instruments Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,574 
1 
Current assets
Debtors
21,443 
27,249 
Cash at bank and in hand
13,000 
487,647 
34,443 
514,896 
Creditors: amounts falling due within one year
(73,381)
(375,983)
Net current (liabilities)/assets
(38,938)
138,913 
Net (liabilities)/assets
(36,364)
138,914 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(36,366)
138,912 
Shareholders' funds
(36,364)
138,914 
For the year ending 31 May 2024 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 25 February 2025 and were signed on its behalf by
Mr A Oral Director Company Registration No. 03575627
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NanoMagnetics Instruments Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
NanoMagnetics Instruments Limited is a private company, limited by shares, registered in England and Wales, registration number 03575627. The registered office is Suite 290, 266 Banbury Road, Oxford, OX2 7DL.
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.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% reducing balance
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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NanoMagnetics Instruments Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2023
1,135 
Additions
3,840 
At 31 May 2024
4,975 
Depreciation
At 1 June 2023
1,134 
Charge for the year
1,267 
At 31 May 2024
2,401 
Net book value
At 31 May 2024
2,574 
At 31 May 2023
1 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
21,443 
27,249 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
13,450 
299,136 
Loans from directors
59,931 
67,647 
Accruals
- 
9,200 
73,381 
375,983 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Controlling party
Mr A Oral a director controlled the company by virtue of a controlling interest in 100% of the issued share capital
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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