Company registration number 02224536 (England and Wales)
MAGNA PARK MANAGEMENT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MAGNA PARK MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
MAGNA PARK MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
15,548
18,961
Current assets
Debtors
5
437,179
654,380
Cash at bank and in hand
636,804
326,360
1,073,983
980,740
Creditors: amounts falling due within one year
6
(1,087,926)
(998,096)
Net current liabilities
(13,943)
(17,356)
Net assets
1,605
1,605
Capital and reserves
Called up share capital
1,605
1,605

The notes on pages 2 to 6 form part of these financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 November 2025 and are signed on its behalf by:
Mr B J Marks
Director
Company registration number 02224536 (England and Wales)
MAGNA PARK MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Magna Park Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 50 New Bond Street, London, United Kingdom, W1S 1BJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for services provided in the normal course of business, net of value added tax.

The company’s turnover comprises service charge receipts collected from tenants to meet the costs of maintaining and managing the land and common areas of the managed properties. Service charge receipts are recognised in the period to which they relate on an accruals basis, and are matched against the corresponding expenditure incurred.

Any surpluses or deficits on service charge accounts are recognised in the profit and loss account with an equal accrual or deferral, so the net impact is nil. These balances are carried forward and settled in the following period once final expenditure is determined.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
18% Reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

MAGNA PARK MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and represent cash balances held by the managing agent in designated client accounts on behalf of the company’s tenants. These balances are restricted to use in connection with the maintenance and management of the properties and related common areas.

Such amounts include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

MAGNA PARK MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2024 and 31 March 2025
28,200
Depreciation and impairment
At 1 April 2024
9,239
Depreciation charged in the year
3,413
At 31 March 2025
12,652
Carrying amount
At 31 March 2025
15,548
At 31 March 2024
18,961
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
267,684
485,046
Other debtors
93,065
57,574
Prepayments and accrued income
76,430
111,760
437,179
654,380
MAGNA PARK MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
161,555
109,231
Other creditors
926,371
888,865
1,087,926
998,096
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Michael Garrett BA FCA ATII
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
11 November 2025
8
Prior year reclassification

In the prior year, cash balances held in designated client accounts by the property management company on behalf of the company were presented within debtors. In the current year, these balances have been presented within cash at bank and in hand, as this presentation is considered more appropriate. The comparative figures have been reclassified accordingly. This reclassification has no impact on the prior year’s reported profit or loss or net assets.

9
Operating lease commitments

The company occupies offices owned by Gazeley UK Limited, which has significant influence, under a lease expiring 18 May 2026. Annual rent payable is £15,801 (2024: £15,801). Future lease commitments are listed below.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
17,922
33,723
MAGNA PARK MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
10
Related party transactions
Transactions with related parties

Gazeley UK Limited

Gazeley UK Limited is a related party as it is the largest individual member and has significant influence on the entity.

During the year, the company received estate contributions from Gazeley UK Limited, relating to Magna North and Magna South. These contributions were calculated based on the proportionate area of the three Magna Park properties, where Magna North accounts for 24.97% and Magna South for 15.67% of the total area. The contributions were for services provided in hygiene, security, site accommodation, office costs, and staff, which benefit the wider estate.

For Magna North, the total income demanded during the year was £175,428 of which £35,145 was deferred as an on-account payment towards 2025/26. The total amount demanded relating to the current year was £140,283. The estate portion of the expenditure for Magna North was £127,301, leading to an accrued balancing credit of £12,982. The total amount outstanding in trade debtors at year-end was £42,173.

For Magna South, the total income demanded during the year was £112,946, of which £22,085 was deferred as an on-account payment towards 2025/26. The total amount demanded relating to this year was £90,861. The estate portion of the expenditure for Magna South was £79,897, resulting in an accrued balancing credit of £10,964. The total amount outstanding in trade debtors at year-end was £26,502.

The company also leases office premises from Gazeley UK Limited as disclosed in note 8.

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