Magnum Storage (NE) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07344512

Magnum Storage (NE) Limited

Filleted Financial Statements

31 March 2025

Magnum Storage (NE) Limited

Balance Sheet

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	497,408	550,534

Current assets

Stocks		3,380	4,884
Debtors	7	74,521	138,172
Cash at bank and in hand		164,774	105,924
		---------	---------
		242,675	248,980

Creditors: amounts falling due within one year	8	( 209,736)	( 147,990)
		---------	---------
Net current assets		32,939	100,990
		---------	---------
Total assets less current liabilities		530,347	651,524

Creditors: amounts falling due after more than one year	9	( 86,577)	( 113,983)

Provisions	10	( 77,028)	( 108,357)
		---------	---------
Net assets		366,742	429,184
		---------	---------

Capital and reserves

Called up share capital	14	1	1
Profit and loss account		366,741	429,183
		---------	---------
Shareholders funds		366,742	429,184
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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: 07344512

Magnum Storage (NE) 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 The Cube, Haverton Hill Road, Billingham, Stockton on Tees, TS23 1BY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of 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

Disclosures in respect of financial instruments have not been presented, as there were none that were deemed non-basic in nature.

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.

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.

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

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

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 6 ).

5. Tax on (loss)/profit

Major components of tax (income)/expense

	2025	2024
	£	£

Current tax:

UK current tax expense	5,799	–

Deferred tax:

Origination and reversal of timing differences	( 31,329)	15,559
	--------	--------
Tax on (loss)/profit	( 25,530)	15,559
	--------	--------

Reconciliation of tax (income)/expense

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

	2025	2024
	£	£
(Loss)/profit on ordinary activities before taxation	( 87,972)	7,566
	--------	-------
(Loss)/profit on ordinary activities by rate of tax	( 21,993)	1,892
Effect of expenses not deductible for tax purposes	( 3,554)	( 2,685)
Effect of capital allowances and depreciation	32,568	( 14,057)
Utilisation of tax losses	( 1,222)	14,850
Deferred tax movement	( 31,329)	15,559
	--------	--------
Tax on (loss)/profit	( 25,530)	15,559
	--------	--------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	575,592	77,751	556,862	1,210,205
Additions	87,565	–	35,354	122,919
Disposals	( 3,725)	–	( 38,456)	( 42,181)
	---------	--------	---------	------------
At 31 March 2025	659,432	77,751	553,760	1,290,943
	---------	--------	---------	------------
Depreciation
At 1 April 2024	326,959	60,144	272,568	659,671
Charge for the year	78,400	4,402	79,067	161,869
Disposals	–	–	( 28,005)	( 28,005)
	---------	--------	---------	------------
At 31 March 2025	405,359	64,546	323,630	793,535
	---------	--------	---------	------------
Carrying amount
At 31 March 2025	254,073	13,205	230,130	497,408
	---------	--------	---------	------------
At 31 March 2024	248,633	17,607	284,294	550,534
	---------	--------	---------	------------

7. Debtors

	2025	2024
	£	£
Trade debtors	47,819	104,120
Other debtors	26,702	34,052
	--------	---------
	74,521	138,172
	--------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	8,200	14,286
Amounts owed to group undertakings	100,000	29,400
Corporation tax	5,799	–
Social security and other taxes	30,694	2,127
Other creditors	65,043	102,177
	---------	---------
	209,736	147,990
	---------	---------

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

	2025	2024
	£	£
Other creditors	86,577	113,983
	--------	---------

Other creditors above are representative of amounts due in respect of hire purchase and finance lease agreements at the year end.

10. Provisions

	Deferred tax (note 11)
	£
At 1 April 2024	108,357
Unused amounts reversed	( 31,329)
	---------
At 31 March 2025	77,028
	---------

11. Deferred tax

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

	2025	2024
	£	£
Included in provisions (note 10)	77,028	108,357
	--------	---------

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

	2025	2024
	£	£
Accelerated capital allowances	77,028	108,357
	--------	---------

12. Grants

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

	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
	-------	-------

The grant income deferred and released to profit and loss is representative of grant income received in a prior year which is being released over the life of the asset for which it was received to acquire.

13. Financial instruments

There are no financial instruments in use by the company that are considered to be non-basic in nature.

14. Called up share capital

Issued, called up and fully paid

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

15. Summary audit opinion

The auditor's report dated 5 November 2025 was unqualified .

The senior statutory auditor was Christopher Gorman FCA FCCA , for and on behalf of Chipchase Manners .

16. Director's advances, credits and guarantees

There were no directors' advances, credits or guarantees in the year.

17. Related party transactions

All related party transactions are undertaken under normal commercial terms on an arms-length basis. Related party transactions within the Magnum Holdings UK Limited group are disclosed as appropriate on the consolidated financial statements which are available at Companies House.

18. Controlling party

The ultimate parent company is Magnum Holdings UK Limited. The ultimate controlling party is Mr M Younis by virtue of his majority shareholding.