REGISTERED NUMBER: 02210071 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MAGNA FREQUENCY COMPONENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R D Newland

K R Todd

REGISTERED OFFICE:

Magna House

Dales Manor Business Park

Sawston

Cambridgeshire

CB22 3TJ

REGISTERED NUMBER:

02210071 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

1,880

2,350

CURRENT ASSETS

Stocks

40,685

55,600

Debtors

6

235,769

199,823

Cash at bank

13,095

97

289,549

255,520

CREDITORS

Amounts falling due within one year

7

(240,256

)

(209,807

)

NET CURRENT ASSETS

49,293

45,713

TOTAL ASSETS LESS CURRENT LIABILITIES

51,173

48,063

CREDITORS

Amounts falling due after more than one year

8

(9,065

)

(19,099

)

NET ASSETS

42,108

28,964

CAPITAL AND RESERVES

Called up share capital

9

621

621

Share premium

35,400

35,400

Retained earnings

6,087

(7,057

)

SHAREHOLDERS' FUNDS

42,108

28,964

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

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

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 Profit and loss account has not been delivered.

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

R D Newland - Director

1.	STATUTORY INFORMATION

Magna Frequency Components 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 (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Turnover represents the sales of goods to the telecommunication sector and is shown net of VAT and discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually once the goods have been dispatched. Where invoices have been raised before dispatch or monies received, the entire amount is deferred to the period in which the items are dispatched.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Improvements 20% on cost

Plant and machinery 20% reducing balance

Stocks

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

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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.

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 2 (2023 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

112,477

DEPRECIATION

At 1 January 2024

110,127

Charge for year

470

At 31 December 2024

110,597

NET BOOK VALUE

At 31 December 2024

1,880

At 31 December 2023

2,350

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

227,248

185,116

Other debtors

8,521

14,707

235,769

199,823

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

67,013

53,219

Trade creditors

121,742

36,430

Taxation and social security

9,226

24,652

Other creditors

42,275

95,506

240,256

209,807

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

9,065

19,099

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

421

Ordinary

£1

421

421

100

A Ordinary

£1

100

100

100

B Ordinary

£1

100

100

621

621

10.	OTHER FINANCIAL COMMITMENTS

In April 2020, the company entered into a rental lease agreement for a total amount of £140,375. The length of the lease is five years.

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the amount of £25,620 (2023: £70,615) was owed to the directors. The amount includes an interest charge of £nil (2023 £nil), is repayable on demand and is disclosed within other creditors.

12.	SECURED DEBTS

HSBC Bank Plc holds a debenture, dated 31 January 2007, secured against all monies due or to become due from the company to the chargee on all accounts.

HSBC Invoice Finance (UK) Ltd holds a fixed charge on purchase debts which fail to vest, dated 8 February 2007, secured against all monies due or to become due from the company to the chargee on all accounts.

HSBC Bank Plc holds a legal assignment, dated 10 March 2010, secured against all monies due or to become due from the company to the chargee on all accounts.