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REGISTERED NUMBER: 08861053 (England and Wales)















Magnus Shoes Limited

Unaudited Financial Statements

for the Year Ended 31st January 2025






Magnus Shoes Limited (Registered number: 08861053)






Contents of the Financial Statements
for the year ended 31st January 2025




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Magnus Shoes Limited

Company Information
for the year ended 31st January 2025







DIRECTOR: S Drinkwater





SECRETARY: Mrs A J Drinkwater





REGISTERED OFFICE: 310 Wellingborough Road
Northampton
Northamptonshire
NN1 4EP





BUSINESS ADDRESS: 2A High Street
Harpole
Northamptonshire
NN7 4DH





REGISTERED NUMBER: 08861053 (England and Wales)





ACCOUNTANTS: Cheney & Co
310 Wellingborough Road
Northampton
NN1 4EP

Magnus Shoes Limited (Registered number: 08861053)

Balance Sheet
31st January 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 1,043 1,304
Tangible assets 6 37,261 56,234
Investments 7 380,048 382,146
418,352 439,684

CURRENT ASSETS
Stocks 341,425 329,591
Debtors 8 107,284 76,185
Cash at bank and in hand 13,163 103,055
461,872 508,831
CREDITORS
Amounts falling due within one year 9 177,166 277,075
NET CURRENT ASSETS 284,706 231,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

703,058

671,440

CREDITORS
Amounts falling due after more than one
year

10

(23,042

)

(36,454

)

PROVISIONS FOR LIABILITIES 13 (9,200 ) (12,900 )
NET ASSETS 670,816 622,086

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 670,716 621,986
SHAREHOLDERS' FUNDS 670,816 622,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Magnus Shoes Limited (Registered number: 08861053)

Balance Sheet - continued
31st January 2025


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 director and authorised for issue on 13th May 2025 and were signed by:





S Drinkwater - Director


Magnus Shoes Limited (Registered number: 08861053)

Notes to the Financial Statements
for the year ended 31st January 2025

1. STATUTORY INFORMATION

Magnus Shoes Limited 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 (£).


The principal activity of the company for the year under review was that of a shoe retailer.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Branding costs is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Magnus Shoes Limited (Registered number: 08861053)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Branding
Goodwill costs Totals
£    £    £   
COST
At 1st February 2024
and 31st January 2025 60,965 2,608 63,573
AMORTISATION
At 1st February 2024 60,965 1,304 62,269
Amortisation for year - 261 261
At 31st January 2025 60,965 1,565 62,530
NET BOOK VALUE
At 31st January 2025 - 1,043 1,043
At 31st January 2024 - 1,304 1,304

Magnus Shoes Limited (Registered number: 08861053)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st February 2024 15,862 81,920 31,243 129,025
Additions - - 1,295 1,295
At 31st January 2025 15,862 81,920 32,538 130,320
DEPRECIATION
At 1st February 2024 14,264 30,362 28,165 72,791
Charge for year 397 16,804 3,067 20,268
At 31st January 2025 14,661 47,166 31,232 93,059
NET BOOK VALUE
At 31st January 2025 1,201 34,754 1,306 37,261
At 31st January 2024 1,598 51,558 3,078 56,234

7. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1st February 2024 300,000 82,146 382,146
Additions - 211,007 211,007
Disposals - (214,397 ) (214,397 )
Interest received - 1,292 1,292
At 31st January 2025 300,000 80,048 380,048
NET BOOK VALUE
At 31st January 2025 300,000 80,048 380,048
At 31st January 2024 300,000 82,146 382,146

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 107,284 76,185

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts (see note 11) - 36,000
Hire purchase contracts 9,411 8,638
Amounts owed to group undertakings 92,594 155,991
Taxation and social security 73,848 75,084
Other creditors 1,313 1,362
177,166 277,075

Magnus Shoes Limited (Registered number: 08861053)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans (see note 11) - 4,000
Hire purchase contracts 23,042 32,454
23,042 36,454

11. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Bank loans - 36,000

Amounts falling due between one and two years:
Bank loans - 1-2 years - 4,000

12. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Hire purchase contracts 32,453 41,092

The bank loans are secured by a fixed and floating charge over the company's assets.

13. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 9,200 12,900

Deferred
tax
£   
Balance at 1st February 2024 12,900
Credit to Income Statement during year (3,700 )
Balance at 31st January 2025 9,200

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

15. CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st January 2025 or at 31st January 2024.

16. CAPITAL COMMITMENTS

There were no capital commitments as at 31st January 2025 or at 31st January 2024.