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REGISTERED NUMBER: 11488769 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

MAG LAUNDRY RENTALS LTD

MAG LAUNDRY RENTALS LTD (REGISTERED NUMBER: 11488769)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAG LAUNDRY RENTALS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: M A Dennis
K Kendell





REGISTERED OFFICE: Barnard Buildings
Rutland Street
Bradford
West Yorkshire
BD4 7EA





REGISTERED NUMBER: 11488769 (England and Wales)





ACCOUNTANTS: Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD

MAG LAUNDRY RENTALS LTD (REGISTERED NUMBER: 11488769)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 582,779 527,008

CURRENT ASSETS
Debtors 5 99,876 125,991
Cash at bank and in hand 40,931 30,066
140,807 156,057
CREDITORS
Amounts falling due within one year 6 262,800 370,060
NET CURRENT LIABILITIES (121,993 ) (214,003 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

460,786

313,005

PROVISIONS FOR LIABILITIES 7 81,437 53,388
NET ASSETS 379,349 259,617

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 379,249 259,517
SHAREHOLDERS' FUNDS 379,349 259,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MAG LAUNDRY RENTALS LTD (REGISTERED NUMBER: 11488769)

BALANCE SHEET - continued
31ST DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2025 and were signed on its behalf by:




M A Dennis - Director



K Kendell - Director


MAG LAUNDRY RENTALS LTD (REGISTERED NUMBER: 11488769)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Mag Laundry Rentals Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on reducing balance, over 20 years and over 4 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MAG LAUNDRY RENTALS LTD (REGISTERED NUMBER: 11488769)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st January 2024 600,383 4,188 604,571
Additions 117,698 - 117,698
At 31st December 2024 718,081 4,188 722,269
DEPRECIATION
At 1st January 2024 77,248 315 77,563
Charge for year 60,881 1,046 61,927
At 31st December 2024 138,129 1,361 139,490
NET BOOK VALUE
At 31st December 2024 579,952 2,827 582,779
At 31st December 2023 523,135 3,873 527,008

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 80,709 111,205
Prepayments and accrued income 19,167 14,786
99,876 125,991

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,160 105
Amounts owed to group undertakings 213,774 349,042
Tax 21,799 9,310
Social security and other taxes 908 604
VAT 12,640 9,109
Accrued expenses 12,519 1,890
262,800 370,060

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 81,437 53,388

Deferred
tax
£   
Balance at 1st January 2024 53,388
Charge to Income Statement during year 28,049
Balance at 31st December 2024 81,437

MAG LAUNDRY RENTALS LTD (REGISTERED NUMBER: 11488769)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares 1 100 100