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REGISTERED NUMBER: 06455747 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

MAGNUS INSURANCE SERVICES LIMITED

MAGNUS INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 06455747)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


MAGNUS INSURANCE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2025







DIRECTORS: N D Garner
C J Gibson
A S Hughes
Mrs K A Beales
Mrs E V Parkes





SECRETARY: Mrs S A Garner





REGISTERED OFFICE: 5400 Lakeside
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3GQ





REGISTERED NUMBER: 06455747 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

MAGNUS INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 06455747)

BALANCE SHEET
31ST MARCH 2025

2025 2024
Notes £    £   
CURRENT ASSETS
Debtors 4 1,149,718 1,526,906
Cash at bank 72,191 55,715
1,221,909 1,582,621
CREDITORS
Amounts falling due within one year 5 850,930 1,155,610
NET CURRENT ASSETS 370,979 427,011
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,979

427,011

CAPITAL AND RESERVES
Called up share capital 6 180 180
Share premium 69,920 69,920
Capital redemption reserve 1,750 1,750
Retained earnings 299,129 355,161
370,979 427,011

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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.

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 23rd May 2025 and were signed on its behalf by:





N D Garner - Director


MAGNUS INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 06455747)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025

1. STATUTORY INFORMATION

Magnus Insurance Services 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.

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 comprises commission receivable and is accounted for at the point the full insurance premium is received.

Financial instruments
A financial asset or liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

MAGNUS INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 06455747)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 1,149,718 1,526,906

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security 31,323 38,911
Other creditors 819,607 1,116,699
850,930 1,155,610

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number Class Nominal 31/3/25 31/3/24
value:
180 Ordinary £1 180 180
1 Ordinary 'A' £0.0000001 - -
1 Ordinary 'C' £0.0000001 - -
180 180

The 'A' Ordinary and 'C' Ordinary shares carry no rights to income or voting and have restricted rights to capital.

7. RELATED PARTY DISCLOSURES

At the year end, the company owed £698,118 (2024: £1,043,806) to Financial & Legal Insurance Company Ltd, a company under common control. The loan is interest free and is repayable on demand.