05358460falsesale of residential and retail units2023-11-012024-10-31http://www.companieshouse.gov.uk/2023-10-31http://www.companieshouse.gov.uk/pt:PlantMachinery2023-10-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-10-31http://www.companieshouse.gov.uk/cd:Director12023-11-012024-10-31http://www.companieshouse.gov.uk/pt:PlantMachinery2024-10-31http://www.companieshouse.gov.uk/pt:ShareCapital2024-10-31http://www.companieshouse.gov.uk/cd:Director22023-11-012024-10-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2023-10-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-10-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2024-10-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-11-012024-10-31http://www.companieshouse.gov.uk/pt:MotorCars2023-10-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2024-10-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-11-012024-10-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22023-11-012024-10-31http://www.companieshouse.gov.uk/pt:MotorCars2024-10-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass32023-11-012024-10-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-11-012024-10-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-10-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-10-31http://www.companieshouse.gov.uk/2023-11-012024-10-31http://www.companieshouse.gov.uk/2023-10-31http://www.companieshouse.gov.uk/cd:FRS1022023-11-012024-10-31http://www.companieshouse.gov.uk/2024-10-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-11-012024-10-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-11-012024-10-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 05358460

Magnus Homes Limited

ACCOUNTS
FOR THE YEAR ENDED 31/10/2024

Prepared By:
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Magnus Homes Limited

ACCOUNTS
FOR THE YEAR ENDED 31/10/2024
DIRECTORS
F Lowe
Mrs S M Lowe
REGISTERED OFFICE
Low Cotehill farm
Low Cotehill
Carlisle
CA4 0EJ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 05358460
BANKERS
Cumberland Building Society
ACCOUNTANTS
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN

Magnus Homes Limited

ACCOUNTS
FOR THEYEARENDED31/10/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Magnus Homes Limited

BALANCE SHEET AT 31/10/2024
20242023
Notes££
FIXED ASSETS
Tangible assets241,60755,527
CURRENT ASSETS
Stock1,062,909874,000
Debtors41,432,6221,703,546
Cash at bank and in hand224,941861,981
2,720,4723,439,527
CREDITORS: Amounts falling due within one year5604,9451,062,803
NET CURRENT ASSETS2,115,5272,376,724
TOTAL ASSETS LESS CURRENT LIABILITIES2,157,1342,432,251
PROVISIONS FOR LIABILITIES AND CHARGES710,25410,254
NET ASSETS2,146,8802,421,997
CAPITAL AND RESERVES
Called up share capital81,0201,020
Profit and loss account2,145,8602,420,977
SHAREHOLDERS' FUNDS2,146,8802,421,997
For the year ending 31/10/2024 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 12/02/2025 and signed on their behalf by
.............................
F Lowe
Director

Magnus Homes Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/10/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentstraight line 25%
Motor Vehiclesreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2. TANGIBLE FIXED ASSETS
Plant andFixturesMotor
Machineryand FittingsEquipmentVehiclesTotal
£££££
Cost
At 01/11/20232,2772,31910,26593,205108,066
At 31/10/20242,2772,31910,26593,205108,066
Depreciation
At 01/11/20232,2772,3199,81638,12752,539
For the year--15013,77013,920
At 31/10/20242,2772,3199,96651,89766,459
Net Book Amounts
At 31/10/2024--29941,30841,607
At 31/10/2023--44955,07855,527

Magnus Homes Limited

3. STOCK 20242023
££
Stock comprises:
Work in progress1,062,909874,000
1,062,909874,000
4. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors1,9538,453
UK corporation tax4438
VAT6,22816,731
Other debtors1,120,0001,222,545
Amounts due from group companies303,060453,026
Prepayments1,3372,753
1,432,6221,703,546
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Other tax and social security creditors2,3067,030
Directors current account314,016579,669
Trade creditors138,647168,378
Other creditors145,176151,226
Accruals4,800156,500
604,9451,062,803
6. EMPLOYEES
20242023
No.No.
Average number of employees45

Magnus Homes Limited

7. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation10,25410,254
10,25410,254
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
1,000 A Ordinary shares of £1 each1,0001,000
10 B Ordinary shares of £1 each1010
10 C Ordinary shares of £1 each1010
1,0201,020
9. RELATED PARTY TRANSACTIONS
Total dividends of £22,000 (2023 - £17,464) were paid to the directors during the year.
Total salaries of £15,192 were paid to the directors during the year (2023 - £17,724).
At the balance sheet date the company owed £314,016 to the directors (2023 - £579,669). The loan is unsecured, interest free and repayable on demand.
10. ADDITIONAL INFORMATION
The company is a private company, limited by shares and registered in England & Wales. The company's registered number is 05358460.
The company's registered office is Low Cotehill Farm, Low Cotehill, Carlisle, Cumbria, CA4 0EJ.
The ultimate parent company is Paton Homes Limited, a company registered in England & Wales.The registered office and trading address of the parent company is as above.