REGISTERED NUMBER: 04218264 (England and Wales)

Magnecor Europe Limited

Unaudited Financial Statements

for the Year Ended

31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P A de Wit

SECRETARY:

Ms N Reid

REGISTERED OFFICE:

Unit 12, Jubilee Business Park,

Snarestone Road,

Appleby Magna,

Swadlincote,

Derbyshire

DE12 7AJ

REGISTERED NUMBER:

04218264 (England and Wales)

ACCOUNTANTS:

Moffat Gilbert

Unit 12

Shottery Brook Office Park

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NR

FIXED ASSETS

Intangible assets

4

348

424

Tangible assets

5

1,223

598

1,571

1,022

CURRENT ASSETS

Stocks

77,503

50,378

Debtors

6

50,863

60,715

Cash at bank and in hand

313,247

386,815

441,613

497,908

CREDITORS

Amounts falling due within one year

7

88,851

98,305

NET CURRENT ASSETS

352,762

399,603

TOTAL ASSETS LESS CURRENT LIABILITIES

354,333

400,625

PROVISIONS FOR LIABILITIES

393

256

NET ASSETS

353,940

400,369

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

353,938

400,367

SHAREHOLDERS' FUNDS

353,940

400,369

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

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

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 27 August 2025 and were signed by:

P A de Wit - Director

1.	STATUTORY INFORMATION

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

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.

Patents and licences are being amortised evenly over their 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

50% on cost and 25% on 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

760

AMORTISATION

At 1 April 2024

336

Charge for year

76

At 31 March 2025

412

NET BOOK VALUE

At 31 March 2025

348

At 31 March 2024

424

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

26,402

Additions

956

Disposals

(500

)

At 31 March 2025

26,858

DEPRECIATION

At 1 April 2024

25,804

Charge for year

331

Eliminated on disposal

(500

)

At 31 March 2025

25,635

NET BOOK VALUE

At 31 March 2025

1,223

At 31 March 2024

598

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

26,396

33,939

Tax

4,552

-

Prepayments

19,915

26,776

50,863

60,715

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

16,472

24,398

Tax

-

13,236

Social security and other taxes

16,947

6,277

Other creditors

726

1,745

Directors' current accounts

34,833

29,603

Accrued expenses

19,873

23,046

88,851

98,305

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

6,656

14,531

Between one and five years

1,604

8,260

8,260

22,791

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 April 2024

400,367

Deficit for the year

(13,429

)

Dividends

(33,000

)

At 31 March 2025

353,938

11.	RELATED PARTY DISCLOSURES

The company paid dividends to Mr P A de Wit in the sum of £33,000 (2024 £28,000). Mr P A de Wit also had undrawn monies owed to him at the year end in the sum of £34,833 (2024 £29,603).

12.	ULTIMATE CONTROLLING PARTY

The director, Mr P de Wit is considered to be the ultimate controlling party.