Magna Management Services Limited
Registered number: 04686514
Statement of Financial Position
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 850,000 800,000
Current assets
Debtors 5 537 529
Cash at bank and in hand 14,905 13,929
15,442 14,458
Creditors: amounts falling due within one year 6 (331,482) (344,335)
Net current liabilities (316,040) (329,877)
Total assets less current liabilities 533,960 470,123
Provisions for liabilities (25,583) (16,083)
Net assets 508,377 454,040
Capital and reserves
Called up share capital 2 2
Fair value reserve 7 199,109 158,609
Profit and loss account 309,266 295,429
Shareholders' funds 508,377 454,040
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S C Dodd
Director
Approved by the board on 20 May 2025
Magna Management Services Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy.
Investment property
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Exceptional items 2025 2024
£ £
Value adjustments on fixed assets and current asset investments (50,000) -
(50,000) -
3 Employees and directors 2025 2024
Number Number
Average number of directors and persons employed by the company 2 2
4 Tangible fixed assets
Investment property
£
Cost
At 1 April 2024 800,000
Fair value movements 50,000
At 31 March 2025 850,000
Depreciation
At 31 March 2025 -
Net book value
At 31 March 2025 850,000
At 31 March 2024 800,000
Freehold land and buildings: 2025 2024
£ £
Historical cost 625,308 625,308
625,308 625,308
The directors have provided the valuation for the investment property, based on their knowledge of the property and the local property market.
5 Debtors 2025 2024
£ £
Prepayments 537 529
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors - 13
Accruals 1,074 1,020
Corporation tax 3,246 3,528
Other creditors 327,162 339,774
331,482 344,335
7 Fair value reserve 2025 2024
£ £
At 1 April 2024 158,609 158,609
Gain on revaluation of land and buildings 50,000 -
Deferred taxation arising on the revaluation of land and buildings (9,500) -
At 31 March 2025 199,109 158,609
8 Other information
Magna Management Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
Magna Management Services Limited 04686514 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts July 2024 S C Dodd No description of principal activity 04686514 2023-04-01 2024-03-31 04686514 core:RevaluationReserve core:LandBuildings 2023-04-01 2024-03-31 04686514 core:RevaluationReserve 2023-04-01 2024-03-31 04686514 core:WithinOneYear 2024-03-31 04686514 core:ShareCapital 2024-03-31 04686514 core:OtherReservesSubtotal 2024-03-31 04686514 core:RetainedEarningsAccumulatedLosses 2024-03-31 04686514 core:RevaluationReserve 2023-03-31 04686514 2024-04-01 2025-03-31 04686514 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04686514 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04686514 bus:Director40 2024-04-01 2025-03-31 04686514 1 2024-04-01 2025-03-31 04686514 2 2024-04-01 2025-03-31 04686514 core:LandBuildings 2024-04-01 2025-03-31 04686514 core:RevaluationReserve core:LandBuildings 2024-04-01 2025-03-31 04686514 core:RevaluationReserve 2024-04-01 2025-03-31 04686514 countries:England 2024-04-01 2025-03-31 04686514 bus:FRS102 2024-04-01 2025-03-31 04686514 bus:FilletedAccounts 2024-04-01 2025-03-31 04686514 2025-03-31 04686514 core:WithinOneYear 2025-03-31 04686514 core:ShareCapital 2025-03-31 04686514 core:OtherReservesSubtotal 2025-03-31 04686514 core:RetainedEarningsAccumulatedLosses 2025-03-31 04686514 core:LandBuildings 2025-03-31 04686514 core:RevaluationReserve 2025-03-31 04686514 2024-03-31 04686514 core:LandBuildings 2024-03-31 04686514 core:RevaluationReserve 2024-03-31 iso4217:GBP xbrli:pure