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Registered Number: 11118231
England and Wales

 

 

 

UK INDUSTRIAL MAGNETS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of UK Industrial Magnets Limited for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of UK Industrial Magnets Limited for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance This report is made solely to the Board of Directors of UK Industrial Magnets Limited, as a body, in accordance with the terms of our engagement letter.

Our work has been undertaken solely to prepare for your approval the accounts of UK Industrial Magnets Limited and state those matters that we have agreed to state to the Board of Directors of UK Industrial Magnets Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UK Industrial Magnets Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that UK Industrial Magnets Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of UK Industrial Magnets Limited. You consider that UK Industrial Magnets Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of UK Industrial Magnets Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the year ended 31 December 2024. 



....................................................

Chawton Hector

2 Maules Gardens
Bristol
Avon
BS34 8AN

13 March 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Investments 3 482,548    482,548 
482,548    482,548 
Current assets      
Cash at bank and in hand   5,000 
Creditors: amount falling due within one year (22,393)   (22,341)
Net current assets (22,393)   (17,341)
 
Total assets less current liabilities 460,155    465,207 
Net assets 460,155    465,207 
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account 460,153    465,205 
Shareholders' funds 460,155    465,207 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 13 March 2025 and were signed on its behalf by:


-------------------------------
Luke Rubery
Director
2
General Information
UK Industrial Magnets Limited is a private company, limited by shares, registered in England and Wales, registration number 11118231, registration address Unit 18 Key Business Park, Kingsbury Road, Birmingham, B24 9PT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like debtors and creditors, loans from banks, loans from related parties and investments in ordinary shares.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2024 482,548    482,548 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2024 482,548    482,548 
The investment represents a 100% holding in the issued ordinary share capital of Electromagnetic Power and Mechanical Services 2010 Ltd, a company incorporated in England and Wales.

4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 A Ordinary share of £1.00 each  
1 B Ordinary share of £1.00 each  
 

3