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Registered Number: 04339684
England and Wales

 

 

 

MAGNATEC INTERNATIONAL LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

Magnatec International Limited
Contents Page
For the year ended 31 December 2024
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 6    6 
6    6 
Current assets      
Stocks 4 8,199    8,049 
Debtors 5 96,910    95,892 
Cash at bank and in hand 32,173    5,158 
137,282    109,099 
Creditors: amount falling due within one year 6 (22,784)   (18,915)
Net current assets 114,498    90,184 
 
Total assets less current liabilities 114,504    90,190 
Net assets 114,504    90,190 
 

Capital and reserves 		     
Called up share capital 7 100    100 
Profit and loss account 114,404    90,090 
Shareholders' funds 114,504    90,190 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 September 2025 and were signed on its behalf by:


-------------------------------
S R Cameron
Director
1
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2023 100  91,973  92,073 
Profit for the year 12,397  12,397 
Total comprehensive income for the year -  12,397  12,397 
Dividends (14,280) (14,280)
Total investments by and distributions to owners -  (14,280) (14,280)
At 31 December 2023 100  90,090  90,190 
At 01 January 2024 100  90,090  90,190 
Profit for the year 39,414  39,414 
Total comprehensive income for the year -  39,414  39,414 
Dividends (15,100) (15,100)
Total investments by and distributions to owners -  (15,100) (15,100)
At 31 December 2024 100  114,404  114,504 
2
General Information
Magnatec International Limited is a private company, limited by shares, registered in England and Wales, registration number 04339684, registration address Stephenson House, Stephenson Way, Formby, Merseyside, L37 8EG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
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. 
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 33% Reducing Balance
Fixtures and Fittings 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees


Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 January 2024 7,892    2,134    10,026 
Additions -    -    - 
Disposals -    -    - 
At 31 December 2024 7,892    2,134    10,026 
Depreciation
At 01 January 2024 7,891    2,129    10,020 
Charge for year -    -    - 
On disposals -    -    - 
At 31 December 2024 7,891    2,129    10,020 
Net book values
Closing balance as at 31 December 2024 1    5    6 
Opening balance as at 01 January 2024 1    5    6 


4.

Stocks

2024
£		   2023
£
Stocks 8,199    8,049 
8,199    8,049 

5.

Debtors: amounts falling due within one year

2024
£		   2023
£
VAT 2,628    1,610 
2,628    1,610 

5.

Debtors: amounts falling due after one year

2024
£		   2023
£
Other Debtors 94,282    94,282 
94,282    94,282 

6.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 6,729    9,181 
Corporation Tax 9,245    2,908 
PAYE & Social Security 65    0 
Accrued Expenses 1,264    1,345 
Directors' Current Accounts 5,481    5,481 
22,784    18,915 

7.

Share Capital

Allotted, called up and fully paid
2024
£		   2023
£
60 Class A shares of £1.00 each 60    60 
40 Class B shares of £1.00 each 40    40 
100    100 

3