Registered number: 05358460 | ||||||||
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 | ||||||||
REGISTERED OFFICE | ||||||||
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 Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
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 | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
2,720,472 | 3,439,527 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT ASSETS | 2,376,724 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 7 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Profit and loss account | 2,145,860 | 2,420,977 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
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 | ||||||||
Equipment | straight line 25% | |||||||
Motor Vehicles | reducing 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 and | Fixtures | Motor | ||||||||
Machinery | and Fittings | Equipment | Vehicles | Total | ||||||
£ | £ | £ | £ | £ | ||||||
Cost | ||||||||||
At 01/11/2023 | 2,277 | 2,319 | 10,265 | 93,205 | 108,066 | |||||
At 31/10/2024 | 2,277 | 2,319 | 10,265 | 93,205 | 108,066 | |||||
Depreciation | ||||||||||
At 01/11/2023 | 2,277 | 2,319 | 9,816 | 38,127 | 52,539 | |||||
For the year | - | - | 150 | 13,770 | 13,920 | |||||
At 31/10/2024 | 2,277 | 2,319 | 9,966 | 51,897 | 66,459 | |||||
Net Book Amounts | ||||||||||
At 31/10/2024 | 41,607 | |||||||||
At 31/10/2023 | 55,527 | |||||||||
Magnus Homes Limited | ||||||||
3. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Work in progress | ||||||
4. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 1,953 | 8,453 | ||||||
UK corporation tax | 44 | 38 | ||||||
VAT | 6,228 | 16,731 | ||||||
Other debtors | 1,120,000 | 1,222,545 | ||||||
Amounts due from group companies | 303,060 | 453,026 | ||||||
Prepayments | 1,337 | 2,753 | ||||||
1,432,622 | 1,703,546 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Other tax and social security creditors | 2,306 | 7,030 | ||||||
Directors current account | 314,016 | 579,669 | ||||||
Trade creditors | 138,647 | 168,378 | ||||||
Other creditors | 145,176 | 151,226 | ||||||
Accruals | 4,800 | 156,500 | ||||||
604,945 | 1,062,803 | |||||||
6. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 5 | |||||
Magnus Homes Limited | ||||||||
7. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 10,254 | 10,254 | ||||||
10,254 | 10,254 | |||||||
8. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
1,000 | 1,000 | |||||||
10 | 10 | |||||||
10 | 10 | |||||||
1,020 | 1,020 | |||||||
9. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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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. |