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

COMPANY REGISTRATION NUMBER: 11644901

Magnum Investments (NE) Limited

Filleted Financial Statements

31 March 2025

Magnum Investments (NE) Limited

Balance Sheet

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	21,212,950	18,511,112
Investments	7	1	2
		-------------	-------------
		21,212,951	18,511,114

Current assets

Debtors	8	2,204,000	957,857
Cash at bank and in hand		1,602,563	2,728,147
		------------	------------
		3,806,563	3,686,004

Creditors: amounts falling due within one year	9	( 1,667,504)	( 2,021,768)
		------------	------------
Net current assets		2,139,059	1,664,236
		-------------	-------------
Total assets less current liabilities		23,352,010	20,175,350

Creditors: amounts falling due after more than one year	10	( 5,044,088)	( 4,635,624)

Provisions	11	( 3,008,865)	( 2,479,858)
		-------------	-------------
Net assets		15,299,057	13,059,868
		-------------	-------------

Capital and reserves

Called up share capital	14	1	1
Revaluation reserve		9,010,977	7,409,887
Profit and loss account		6,288,079	5,649,980
		-------------	-------------
Shareholders funds		15,299,057	13,059,868
		-------------	-------------

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.

Magnum Investments (NE) Limited

Balance Sheet (continued)

31 March 2025

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: 11644901

Magnum Investments (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 Magnum House, Macklin Avenue, Cowpen Lane Industrial Estate, Billingham, TS23 4BY.

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.

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.

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.

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:

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 accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 4 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	212,699	332,263
	---------	---------
Tax on profit	212,699	332,263
	---------	---------

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: £ 346,687 ).

Reconciliation of tax expense

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

	2025	2024
	£	£
Profit on ordinary activities before taxation	754,052	4,632,192
	---------	------------
Profit on ordinary activities by rate of tax	188,243	1,158,049
Effect of expenses not deductible for tax purposes	( 15,204)	( 198,742)
Effect of capital gain on disposal of investment property	39,660	195,031
Effect of intercompany write off not deductible	–	( 822,075)
	---------	------------
Tax on profit	212,699	332,263
	---------	------------

6. Tangible assets

	Investment property
	£
Cost or valuation
At 1 April 2024	18,511,112
Additions	944,927
Disposals	( 464,996)
Revaluations	2,226,843
	-------------
At 31 March 2025	21,217,886
	-------------
Depreciation
At 1 April 2024	–
Impairment losses	4,936
	-------------
At 31 March 2025	4,936
	-------------
Carrying amount
At 31 March 2025	21,212,950
	-------------
At 31 March 2024	18,511,112
	-------------

Tangible assets held at valuation

The properties owned by the company at 31 March 2025 have been valued by an independent valuer, Parker Barras Commercial Property and Business Transfer Agents, on 16 June 2025. The board of directors believe that the value of the investment properties held did not materially change between 31 March 2025 and the valuation date.

In respect of tangible assets held at valuation, the 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:

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

At 31 March 2024
Aggregate cost	8,600,809
Aggregate depreciation	–
	------------
Carrying value	8,600,809
	------------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024	2
Disposals	( 1)
	----
At 31 March 2025	1
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	1
	----
At 31 March 2024	2
	----

The investment above represents 1 Ordinary Share in Methodist House Living Limited. This equates to 50% of the total share capital of Methodist House Living Limited and is therefore an investment in a joint venture. On 1 April 2024, 100% of the total share capital of Dragon Properties NE Limited was sold, therefore this company was not a subsidiary for the entire year ended 31 March 2025.

8. Debtors

	2025	2024
	£	£
Trade debtors	105,453	110,919
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,115,999	843,079
Other debtors	982,548	3,859
	------------	---------
	2,204,000	957,857
	------------	---------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	320,950	285,637
Trade creditors	77,117	99,380
Amounts owed to group undertakings and undertakings in which the company has a participating interest	303,076	553,076
Corporation tax	212,658	332,263
Social security and other taxes	1,251	1,227
Other creditors	752,452	750,185
	------------	------------
	1,667,504	2,021,768
	------------	------------

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

	2025	2024
	£	£
Bank loans and overdrafts	5,044,088	4,635,624
	------------	------------

11. Provisions

	Deferred tax (note 12)
	£
At 1 April 2024	2,479,858
Additions	529,007
	------------
At 31 March 2025	3,008,865
	------------

12. Deferred tax

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

	2025	2024
	£	£
Included in provisions (note 11)	3,008,865	2,479,858
	------------	------------

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

	2025	2024
	£	£
Revaluation of tangible assets	3,008,865	2,479,858
	------------	------------

13. Financial instruments

There were no financial instruments that were non-basic in the period.

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

Related party transactions are disclosed on the group accounts of the parent company Magnum Holdings UK Limited, which are available at Companies House. Within this company, all related party transaction are undertaken under normal commercial terms.

18. Controlling party

The ultimate controlling party is Mr M Younis by virtue of his majority shareholding in the parent company.