Magnum Holdings UK Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 07018511

Magnum Holdings UK Limited

Financial Statements

31 March 2025

Magnum Holdings UK Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Director's report	4

Independent auditor's report to the members	6

Consolidated statement of comprehensive income	10

Consolidated balance sheet	11

Balance sheet	12

Consolidated statement of changes in equity	13

Company statement of changes in equity	14

Consolidated statement of cash flows	15

Notes to the financial statements	16

Magnum Holdings UK Limited

Officers and Professional Advisers

Director	Z H Younis

Registered office	Magnum House
	Macklin Avenue
	Cowpen Lane Industrial Estate
	Billingham
	TS23 4BY

Auditor	Chipchase Manners
	Chartered accountants & statutory auditor
	384 Linthorpe Road
	Middlesbrough
	TS5 6HA

Bankers	Lloyds Bank
	83-85 Linthorpe Road
	Middlesbrough
	TS1 5BU

Solicitors	Jacksons Law Firm
	17 Falcon Court
	Preston Farm Industrial Estate
	Stockton-on-Tees
	TS18 3TU

Magnum Holdings UK Limited

Strategic Report

Year ended 31 March 2025

Principal activities

The principal activity of the group is that of wholesale packaging merchants, investment property management, and storage facility providers.

Key performance indicators

The straightforward trade of the group allows for the use of simple key performance indicators as follows:

	2025	2023
Gross profit margin (%)	29	25
Net profit margin (%)	1	4
Current ratio	1	1

Principal risks and uncertainties

The Group conducts the sale of various types of packaging products, holds a portfolio of investment properties, and provides storage and vehicle rental solutions. The key business risks and uncertainties affecting the Group are considered to relate to the competition in the industry, both locally and nationally. The Group's directors are working to maintain the Group's excellent reputation and are working to build on existing customer relationships whilst also developing new ones. The Group has continued to grow in recent years despite the competition in the industry. The growth and financial success in recent years has allowed for the expansion of the clients premises to the new facility in Billingham which has allowed the Group to manage higher demand for its products and continue to increase both turnover and stock levels.

Interest risk

The Group finances its activities, along with other financial assets and liabilities such as trade debtors and creditors, directly from the Group's operating activities. The Group does not enter into interest rate swaps and does not trade in financial instruments. The Group does not seek to hedge any transactions and no trading in derivative financial instruments is undertaken. The overall level of interest risk is low.

Currency risk

The Group's reporting currency is GBP but it transacts in foreign currencies with a range of customers who operate with both Euros and US Dollars. Fluctuations in value between GBP, the Euro and US Dollars may affect the Group's revenues and operating profits. The Group does not seek to mitigate currency risks through hedging to limit foreign currency transaction exposure as this exposure is not deemed by the directors to be a significant risk. Recent results have been positive despite the uncertainty cause by the UK's ongoing Brexit negotiations having an effect on exchange rates.

Liquidity risk

The risk of financial loss due to counterpart failure to honour its obligations is principally in relation to transactions where the Group provides goods and services. Group policies are aimed at minimising such losses, and require that terms are only granted to customers who demonstrate an appropriate payment history and satisfy creditworthiness procedures. Individual exposures are monitored to ensure that the Group's exposure to bad debts is not significant. The Group seeks to mitigate liquidity risk by managing cash generation in its operations and applying cash collection targets.

Going concern

The Group's business activities together with the factors likely to affect its future development, its financial position, financial risk management objectives and its exposures to price, credit, liquidity and cash flow risk are described in the business review above. The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the annual report and accounts.

Future developments

The directors wish to push for sustained growth as they have in the recent past.

Results and dividends

The Profit for the period, after taxation, amounted to £551,286 (2024: £1,497,567). EBITDA amounted to £1,520,613 (2024: £2,776,807). Particulars of dividends paid are detailed in the notes to the financial statements.

This report was approved by the board of directors on 5 November 2025 and signed on behalf of the board by:

Z H Younis
Director

Registered office:

Magnum House

Macklin Avenue

Cowpen Lane Industrial Estate

Billingham

TS23 4BY

Magnum Holdings UK Limited

Director's Report

Year ended 31 March 2025

The director presents his report and the financial statements of the group for the year ended 31 March 2025 .

Director

The director who served the company during the year was as follows:

Z H Younis

Dividends

The director does not recommend the payment of a dividend.

Future developments

The directors of the group intend to promote steady growth for the foreseeable future.

Financial instruments

There have been no financial instruments considered to be non-basic in use during the year.

Director's responsibilities statement

The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and the company and the profit or loss of the group for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information.

This report was approved by the board of directors on 5 November 2025 and signed on behalf of the board by:

Z H Younis
Director

Registered office:

Magnum House

Macklin Avenue

Cowpen Lane Industrial Estate

Billingham

TS23 4BY

Magnum Holdings UK Limited

Independent Auditor's Report to the Members of Magnum Holdings UK Limited

Year ended 31 March 2025

Opinion

We have audited the financial statements of Magnum Holdings UK Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the consolidated statement of comprehensive income, consolidated balance sheet, balance sheet, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group's and of the parent company's affairs as at 31 March 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud or error. It is also our objective to obtain sufficient appropriate audit evidence regarding the risks we have assessed and respond as appropriate to them. Even though an audit is planned and performed in accordance with the ISAs (UK), an audit has an unavoidable risk that material misstatements in the financial statements may not be detected. In identifying and assessing the risk of material misstatement in respect of irregularities, including fraud, our audit procedures included the following: - We obtained an understanding of the legal and regulatory frameworks applicable to the company and the environment in which they operate. - We obtained an understanding of how the company ensures their compliance with the applicable legal and regulatory frameworks through inquiries to the management and those charged with ensuring such compliance within the company. We corroborated our inquiries through a review of transactions within the financial statements that were linked to compliance with laws and regulations. We also reviewed any available board minutes. - We assessed the susceptibility of the company's financial statements to material misstatement with regards to how fraud might occur. Audit procedures performed by the team included: - Identifying and assessing the effectiveness of controls the management of the company has in place to detect and prevent possible fraud; - Understanding how those involved with ensuring compliance considered and addressed the potential override of controls or undue influence over the financial reports; - Challenging any major assumptions and judgements that the management used in any significant accounting estimates; - Reviewing journal entries made with emphasis placed on those with unusual combinations and those around the accounting year end: and - Assessing the extent of compliance with applicable laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Gorman FCA FCCA

(Senior Statutory Auditor)

For and on behalf of

Chipchase Manners

Chartered accountants & statutory auditor

384 Linthorpe Road

Middlesbrough

TS5 6HA

5 November 2025

Magnum Holdings UK Limited

Consolidated Statement of Comprehensive Income

Year ended 31 March 2025

		2025	2024
Note		£	£
Turnover	4	43,585,733	42,205,029

Cost of sales	( 30,778,323)	( 31,512,452)
	-------------	-------------
Gross profit	12,807,410	10,692,577

Distribution costs		( 5,783,575)	( 4,002,315)
Administrative expenses		( 6,933,184)	( 5,371,487)
Rental and other operating income	5	1,146,187	1,084,173
		-------------	-------------
Operating profit	6	1,236,838	2,402,948

Income from shares in group undertakings	10	( 6,393)	–
Other interest receivable and similar income	11	73,943	13,070
Interest payable and similar expenses	12	( 526,104)	( 411,489)
		-------------	-------------
Profit before taxation		778,284	2,004,529

Tax on profit	13	( 226,998)	( 506,962)
		---------	------------
Profit for the financial year		551,286	1,497,567
		---------	------------

Revaluation of tangible assets	2,226,843	( 24,064)
Tax relating to components of other comprehensive income	( 529,007)	( 348,478)
	------------	---------
Other comprehensive income for the year	1,697,836	( 372,542)
	------------	------------
Total comprehensive income for the year	2,249,122	1,125,025
	------------	------------

All the activities of the group are from continuing operations.

Magnum Holdings UK Limited

Consolidated Balance Sheet

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	14	–	39,174
Tangible assets	15	23,798,622	21,652,532
Investments	16	–	1
		-------------	-------------
		23,798,622	21,691,707

Current assets

Stocks	17	6,006,090	6,317,474
Debtors	18	9,308,183	6,692,670
Cash at bank and in hand		4,335,373	5,862,246
		-------------	-------------
		19,649,646	18,872,390

Creditors: amounts falling due within one year	19	( 13,444,648)	( 13,369,109)
		-------------	-------------
Net current assets		6,204,998	5,503,281
		-------------	-------------
Total assets less current liabilities		30,003,620	27,194,988

Creditors: amounts falling due after more than one year	20	( 5,197,332)	( 5,103,344)

Provisions	22	( 3,111,104)	( 2,645,582)
		-------------	-------------
Net assets		21,695,184	19,446,062
		-------------	-------------

Capital and reserves

Called up share capital	26	100	100
Revaluation reserve	27	9,917,279	8,321,562
Merger reserve	27	3,695,005	3,695,005
Profit and loss account	27	8,082,800	7,429,395
		-------------	-------------
Shareholders funds		21,695,184	19,446,062
		-------------	-------------

These financial statements were approved by the board of directors and authorised for issue on 5 November 2025 , and are signed on behalf of the board by:

Z H Younis
Director

Company registration number: 07018511

Magnum Holdings UK Limited

Balance Sheet

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Investments	16	502,601	502,601

Current assets

Debtors	18	3,495,259	3,615,260
Cash at bank and in hand		810,448	609,109
		------------	------------
		4,305,707	4,224,369

Creditors: amounts falling due within one year	19	( 635,816)	( 655,481)
		------------	------------
Net current assets		3,669,891	3,568,888
		------------	------------
Total assets less current liabilities		4,172,492	4,071,489
		------------	------------
Net assets		4,172,492	4,071,489
		------------	------------

Capital and reserves

Called up share capital	26	100	100
Profit and loss account	27	4,172,392	4,071,389
		------------	------------
Shareholders funds		4,172,492	4,071,489
		------------	------------

The profit for the financial year of the parent company was £ 101,003 (2024: £ 3,692,910 ).

These financial statements were approved by the board of directors and authorised for issue on 5 November 2025 , and are signed on behalf of the board by:

Z H Younis
Director

Company registration number: 07018511

Magnum Holdings UK Limited

Consolidated Statement of Changes in Equity

Year ended 31 March 2025

			Called up share capital	Revaluation reserve	Merger reserve	Profit and loss account	Total
Note			£	£	£	£	£
At 1 April 2023			100	8,708,948	3,695,005	5,915,793	18,319,846

Profit for the year						1,497,567	1,497,567
Other comprehensive income for the year:
	Revaluation of tangible assets	15	–	( 24,064)	–	–	( 24,064)
	Reclassification from revaluation reserve to profit and loss account		–	( 14,844)	–	14,844	–
	Tax relating to components of other comprehensive income	13	–	( 348,478)	–	–	( 348,478)
			----	------------	------------	------------	-------------
Total comprehensive income for the year			–	( 387,386)	–	1,512,411	1,125,025

Subsidiary net asset position acquired			–	–	–	1,191	1,191
			----	------------	------------	------------	-------------
Total investments by and distributions to owners			–	–	–	1,191	1,191

At 31 March 2024			100	8,321,562	3,695,005	7,429,395	19,446,062

Profit for the year						551,286	551,286
Other comprehensive income for the year:
	Revaluation of tangible assets	15	–	2,226,843	–	–	2,226,843
	Reclassification from revaluation reserve to profit and loss account		–	( 102,119)	–	102,119	–
	Tax relating to components of other comprehensive income	13	–	( 529,007)	–	–	( 529,007)
			----	------------	------------	------------	-------------
Total comprehensive income for the year			–	1,595,717	–	653,405	2,249,122

			----	------------	------------	------------	-------------
At 31 March 2025			100	9,917,279	3,695,005	8,082,800	21,695,184
			----	------------	------------	------------	-------------

Magnum Holdings UK Limited

Company Statement of Changes in Equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 April 2023	100	378,479	378,579

Profit for the year		3,692,910	3,692,910
	----	------------	------------
Total comprehensive income for the year	–	3,692,910	3,692,910

At 31 March 2024	100	4,071,389	4,071,489

Profit for the year		101,003	101,003
	----	------------	------------
Total comprehensive income for the year	–	101,003	101,003

	----	------------	------------
At 31 March 2025	100	4,172,392	4,172,492
	----	------------	------------

Magnum Holdings UK Limited

Consolidated Statement of Cash Flows

Year ended 31 March 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	551,286	1,497,567

Adjustments for:
Depreciation of tangible assets	244,601	334,683
Amortisation of intangible assets	39,174	39,176
Government grant income	( 3,209)	( 4,278)
Income from shares in group undertakings	6,393	–
Other interest receivable and similar income	( 73,943)	( 13,070)
Interest payable and similar expenses	526,104	411,489
Loss/(gains) on disposal of tangible assets	91,991	( 11,778)
Gains on disposal of investment property	( 65,004)	( 800,000)
Tax on profit	226,998	506,962
Accrued (income)/expenses	( 4,225)	22,543

Changes in:
Stocks	311,384	( 2,029,834)
Trade and other debtors	( 2,612,813)	542,297
Trade and other creditors	438,555	7,422,874
	------------	------------
Cash generated from operations	( 322,708)	7,918,631

Interest paid	( 526,104)	( 411,489)
Interest received	73,943	13,070
Tax paid	( 517,282)	( 326,383)
	------------	------------
Net cash (used in)/from operating activities	( 1,292,151)	7,193,829
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 1,119,225)	( 1,938,467)
Proceeds from sale of tangible assets	928,390	1,065,992
Acquisition of subsidiaries	–	1,190
Proceeds from sale of subsidiaries	( 6,392)	–
	------------	------------
Net cash used in investing activities	( 197,227)	( 871,285)
	------------	------------

Cash flows from financing activities

Proceeds from borrowings	288,777	( 7,249,363)
Government grant income	3,209	4,278
Payments of finance lease liabilities	( 329,481)	202,103
	------------	------------
Net cash used in financing activities	( 37,495)	( 7,042,982)
	------------	------------

Net decrease in cash and cash equivalents	( 1,526,873)	( 720,438)
Cash and cash equivalents at beginning of year	5,862,246	6,582,684
	------------	------------
Cash and cash equivalents at end of year	4,335,373	5,862,246
	------------	------------

Magnum Holdings UK Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Magnum House, Macklin Avenue, Cowpen Lane Industrial Estate, Billingham, TS23 4BY.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102: No disclosure has been given for the aggregate remuneration of key management personnel as it is the same as the directors remuneration.

Consolidation

The financial statements consolidate the financial statements of Magnum Holdings UK Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Straight line over 5 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Investment property	-	`Not depreciated. Recognised at fair value.`

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

Investments in joint ventures

Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

The grant income deferred and released to profit and loss is representative of grant income received in a prior year In Magnum Storage (NE) Limited which is being released over the life of the asset for which it was received to assist in acquiring.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The group has not used any non-basic financial instruments in the year.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	42,774,039	41,372,706
Rendering of services	811,694	832,323
	-------------	-------------
	43,585,733	42,205,029
	-------------	-------------

The turnover is attributable to the one principal activity of the group. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2025	2024
	£	£
United Kingdom	41,754,588	40,449,746
Overseas	1,831,145	1,755,283
	-------------	-------------
	43,585,733	42,205,029
	-------------	-------------

5. Rental and other operating income

	2025	2024
	£	£
Government grant income	3,209	4,278
Other operating income	1,142,978	1,079,895
	------------	------------
	1,146,187	1,084,173
	------------	------------

The other operating income above is rental income received by the wholly owned subsidiary company Magnum Investments NE Limited.

6. Operating loss

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Amortisation of intangible assets	39,174	39,176
Depreciation of tangible assets	239,665	334,683

Impairment of tangible assets recognised in:

	Administrative expenses	4,936	–
Loss/(gains) on disposal of tangible assets		91,991	( 11,778)
Gains on disposal of investment property		( 65,004)	( 800,000)
Impairment of trade debtors		100,211	37,485
Foreign exchange differences		670	–
		---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	39,750	38,000
	--------	--------

8. Staff costs

The average number of persons employed by the group during the year, including the director, amounted to:

	2025	2024
	No.	No.
Administrative staff	9	8
Management staff	1	2
Other employees	110	97
	----	----
	120	107
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	3,096,801	2,500,081
Social security costs	256,494	207,154
Other pension costs	29,506	51,402
	------------	------------
	3,382,801	2,758,637
	------------	------------

9. Director's remuneration

The director's aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	180,000	152,500
	---------	---------

10. Income from shares in group undertakings

	2025	2024
	£	£
(Gain)/loss on disposal of shares in group	(6,393)	–
	-------	----

Please also see note 16.

11. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	73,943	13,070
	--------	--------

12. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	454,034	379,454
Interest on obligations under finance leases and hire purchase contracts	69,926	31,528
Interest on overdue taxation	2,144	507
	---------	---------
	526,104	411,489
	---------	---------

13. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	288,692	515,171

Deferred tax:

Origination and reversal of timing differences	( 61,694)	( 8,209)
	---------	---------
Tax on profit	226,998	506,962
	---------	---------

Tax recognised as other comprehensive income or equity

The aggregate current and deferred tax relating to items recognised as other comprehensive income or equity for the year was £529,007 (2024: £348,478).

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	778,284	2,004,529
	---------	------------
Profit on ordinary activities by rate of tax	194,571	501,132
Effect of expenses not deductible for tax purposes	9,506	( 190,702)
Effect of capital allowances and depreciation	46,177	9,710
Utilisation of tax losses	( 1,222)	–
Deferred tax movement	( 61,694)	( 8,209)
Fair value movement not allowable	39,660	195,031
	---------	------------
Tax on profit	226,998	506,962
	---------	------------

14. Intangible assets

Group	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	195,878
	---------
Amortisation
At 1 April 2024	156,704
Charge for the year	39,174
	---------
At 31 March 2025	195,878
	---------
Carrying amount
At 31 March 2025	–
	---------
At 31 March 2024	39,174
	---------

The company has no intangible assets.

15. Tangible assets

Group	Plant and machinery	Fixtures and fittings	Motor vehicles	Investment property	Total
	£	£	£	£	£
Cost
At 1 April 2024	845,644	366,909	1,054,020	20,393,716	22,660,289
Additions	95,065	43,879	35,354	944,927	1,119,225
Disposals	( 3,725)	–	( 569,167)	( 464,996)	( 1,037,888)
Disposals through business combinations	–	–	–	( 70,000)	( 70,000)
Revaluations	–	–	–	2,226,843	2,226,843
	---------	---------	------------	-------------	-------------
At 31 March 2025	936,984	410,788	520,207	23,030,490	24,898,469
	---------	---------	------------	-------------	-------------
Depreciation
At 1 April 2024	429,521	263,400	314,836	–	1,007,757
Charge for the year	121,991	26,436	91,238	4,936	244,601
Disposals	–	–	( 152,511)	–	( 152,511)
	---------	---------	------------	-------------	-------------
At 31 March 2025	551,512	289,836	253,563	4,936	1,099,847
	---------	---------	------------	-------------	-------------
Carrying amount
At 31 March 2025	385,472	120,952	266,644	23,025,554	23,798,622
	---------	---------	------------	-------------	-------------
At 31 March 2024	416,123	103,509	739,184	20,393,716	21,652,532
	---------	---------	------------	-------------	-------------

The company has no tangible assets.

Tangible assets held at valuation

The properties owned by subsidiary company Magnum Investments (NE) Limited at 31 March 2025 have been valued by an independent valuer, Parker Barras Commercial Property and Business Transfer Agents, on 16 June 2025.

In respect of tangible assets held at valuation, aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

Group	Investment property
	£
At 31 March 2025
Aggregate cost	9,117,486
Aggregate depreciation	–
	------------
Carrying value	9,117,486
	------------

At 31 March 2024
Aggregate cost	8,663,645
Aggregate depreciation	–
	------------
Carrying value	8,663,645
	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

Group	Motor vehicles
	£
At 31 March 2025	143,963
	---------
At 31 March 2024	214,267
	---------

16. Investments

Group	Shares in group undertakings
	£
Cost
At 1 April 2024	1
Disposals	( 1)
	----
At 31 March 2025	–
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	–
	----
At 31 March 2024	1
	----

Company	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	502,601
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 1 April 2024 and 31 March 2025	502,601
	---------
At 31 March 2024	502,601
	---------

Subsidiaries, associates and other investments

Details of the investments in which the group and the parent company have an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
Magnum Packaging (N.E.) Limited	Ordinary	100
Magnum Investments (NE) Limited	Ordinary	100
Magnum Storage (NE) Limited	Ordinary	100

Other significant holdings
Methodist House Living Limited	Ordinary	50

On 1 April 2024, Magnum Investments (NE) Limited disposed of the entire shareholding of Dragon Properties (NE) Limited for nil proceeds. This company has therefore not been consolidated into the group from the date of disposal, and a loss on disposal has been recognised.

17. Stocks

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Finished goods and goods for resale	6,006,090	6,317,474	–	–
	------------	------------	----	----

18. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	6,553,178	6,076,235	–	–
Amounts owed by group undertakings	–	–	2,883,400	3,583,400
Amounts owed by connected companies	1,115,999	547,700	–	–
Prepayments and accrued income	46,960	46,957	–	–
Other debtors	1,592,046	21,778	611,859	31,860
	------------	------------	------------	------------
	9,308,183	6,692,670	3,495,259	3,615,260
	------------	------------	------------	------------

19. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Bank loans and overdrafts	420,950	385,637	–	–
Trade creditors	2,014,308	1,139,878	–	–
Accruals and deferred income	97,781	94,757	6,000	6,000
Corporation tax	288,651	515,450	335	–
Social security and other taxes	1,167,946	1,634,465	–	–
Obligations under finance leases and hire purchase contracts	44,622	162,836	–	–
Director loan accounts	633,899	688,899	–	–
Amounts due to Magnum Properties (NE) Limited	283,076	283,076	( 20,000)	–
Other creditors	8,493,415	8,464,111	649,481	649,481
	-------------	-------------	---------	---------
	13,444,648	13,369,109	635,816	655,481
	-------------	-------------	---------	---------

20. Creditors: amounts falling due after more than one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Bank loans and overdrafts	5,110,755	4,802,291	–	–
Accruals and deferred income	9,625	12,834	–	–
Obligations under finance leases and hire purchase contracts	76,952	288,219	–	–
	------------	------------	----	----
	5,197,332	5,103,344	–	–
	------------	------------	----	----

21. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	44,622	162,836	–	–
Later than 1 year and not later than 5 years	76,952	288,219	–	–
	---------	---------	----	----
	121,574	451,055	–	–
	---------	---------	----	----

22. Provisions

Group	Deferred tax (note 23)
	£
At 1 April 2024	2,645,582
Additions	529,007
Unused amounts reversed	( 63,485)
	------------
At 31 March 2025	3,111,104
	------------

The company does not have any provisions.

23. Deferred tax

The deferred tax included in the balance sheet is as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 22)	3,111,104	2,645,582	–	–
	------------	------------	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	102,239	163,933	–	–
Revaluation of tangible assets	3,008,865	2,479,858	–	–
Fair value adjustment of investment property	–	1,791	–	–
	------------	------------	----	----
	3,111,104	2,645,582	–	–
	------------	------------	----	----

24. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 29,506 (2024: £ 51,402 ).

25. Government grants

The amounts recognised in the financial statements for government grants are as follows:

Group		Company
2025	2024	2025	2024
£	£	£	£

Recognised in creditors:

Deferred government grants due after more than one year	9,625	12,834	–	–
	-------	--------	----	----

Recognised in other operating income:

Government grants released to profit or loss	3,209	4,278	–	–
	-------	-------	----	----

26. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

27. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses. Merger reserve - This reserve records the net asset position of the subsidiaries acquired at the point of merger. Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.

28. Analysis of changes in net debt

	At 1 Apr 2024	Cash flows	At 31 Mar 2025
	£	£	£
Cash at bank and in hand	5,862,246	(1,526,873)	4,335,373
Debt due within one year	(1,237,372)	137,901	(1,099,471)
Debt due after one year	(5,090,510)	(97,197)	(5,187,707)
	------------	------------	------------
	( 465,636)	( 1,486,169)	( 1,951,805)
	------------	------------	------------

Magnum Holdings UK Limited

Notes to the Financial Statements (continued)

Year ended 31 March 2025

29. Contingencies

On 15 July 2024, HMRC issued an assessment against Magnum Packaging (NE) Limited, a wholly owned subsidiary of Magnum Holdings UK Limited , in respect of Plastic Packaging Tax (PPT) which covered a period inclusive of the year ended 31 March 2024. The director has appealed the assessment. Given the continued uncertainty over the amount (if any) and timing of any possible tax liabilities, no provision has been made in the accounts for the year ended 31 March 2025.

30. Director's advances, credits and guarantees

There have been no directors advances, credits or guarantees in the year.

31. Related party transactions

Group

At the year end Magnum Investments (NE) Limited was due £1,115,999 (2024: £547,700) from Methodist House Living Limited. Magnum Investments (NE) Limited holds 50% of the share capital in this company. The company had commenced trade in its year to 31 December 2024 but was loss-making and its results are trivial to the Magnum Holdings UK Limited group.

Company

During the year Magnum Packaging (N.E.) Limited rented properties from Magnum Investments (NE) Limited at a total rent of £600,000 (2024: £480,000). At the year-end Magnum Packaging (N.E) was due nil (2024: nil) from Magnum Investments (NE) Limited. Both of these companies are wholly owned subsidiaries of Magnum Holdings UK Limited . During the year Magnum Packaging (N.E.) Limited proposed dividends totalling £100,000 (2024: £3,450,000) to Magnum Holdings UK Limited , the parent company. At the year-end Magnum Packaging (N.E.) Limited owed £2,783,400 (2024: £3,333,400) to Magnum Holdings UK Limited . During the year Magnum Investments (NE) Limited proposed a dividend of nil (2024: £250,000) to Magnum Holdings UK Limited , the parent company. At the year-end Magnum Investments (NE) Limited owed nil (2024: £250,000) to Magnum Holdings UK Limited . During the year Magnum Storage (NE) Limited rented properties from Magnum Investments (NE) Limited at a total rent of £100,914 (2024: £100,080). Both of these companies are wholly owned subsidiaries of Magnum Holdings UK Limited . There were no outstanding balances between these companies at the year-end. During the year Magnum Storage (NE) Limited purchased packaging from Magnum Packaging (N.E.) Limited at a cost of £3,857 (2024: £24,500). Both of these companies are wholly owned subsidiaries of Magnum Holdings UK Limited . At the year-end Magnum Storage (NE) Limited owed nil (2024: £29,400) to Magnum Packaging (N.E.) Limited. At the year-end Magnum Investments (NE) Limited was due nil (2024: £295,379) from Dragon Properties (NE) Limited. Magnum Investments (NE) Limited is a wholly owned subsidiary of Magnum Holdings UK Limited , and Dragon Properties (NE) Limited was a wholly owned subsidiary of Magnum Investments (NE) Limited until it was disposed of as detailed in note 16. At the year-end Magnum Investments (NE) was owed £303,076 (2024: £303,076) from Magnum Properties (NE) Limited. This company is related through shared directorship. At the year-end Magnum Holdings UK Limited was owed £500,000 (2024: nil) from Dragon Properties (NE) Limited. This company is now related only through shared directorship. All transactions between the companies in the Magnum Holdings UK Limited (ultimate parent company) group, and to other related parties, are undertaken on an arms-length basis and under normal commercial terms. Loans to shareholders totalling £8,286,983 (2024: £8,390,080) are represented in Other Creditors on the financial statements.