Company Registration No. 10896236 (England and Wales)
Magal Bond Properties Limited
Unaudited accounts
for the year ended 31 August 2025
Magal Bond Properties Limited
Unaudited accounts
Contents
Magal Bond Properties Limited
Company Information
for the year ended 31 August 2025
Directors
Mr Moshe Magal
Mrs Katy Miranda Kilby
Company Number
10896236 (England and Wales)
Registered Office
Office 135
Boston House Grove Business Park
Downsview Road,
Wantage
OX12 9FF
England
Accountants
WhiteCloud Accounting Ltd
83 Queens Road
Brighton
East Sussex
BN1 3XE
Magal Bond Properties Limited
Accountants' report
Accountants' report to the board of directors of Magal Bond Properties Limited on the preparation of the unaudited statutory accounts for the year ended 31 August 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Magal Bond Properties Limited for the year ended
31 August 2025 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Magal Bond Properties Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Magal Bond Properties Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Magal Bond Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Magal Bond Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Magal Bond Properties Limited. You consider that Magal Bond Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Magal Bond Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
WhiteCloud Accounting Ltd
83 Queens Road
Brighton
East Sussex
BN1 3XE
24 November 2025
Magal Bond Properties Limited
Statement of financial position
as at 31 August 2025
Tangible assets
40,694
58,238
Investment property
8,937,000
8,576,000
Cash at bank and in hand
11,452
45,381
Creditors: amounts falling due within one year
(6,731,400)
(6,980,101)
Net current liabilities
(6,717,281)
(6,916,708)
Total assets less current liabilities
2,260,413
1,717,530
Creditors: amounts falling due after more than one year
(28,648)
(32,899)
Provisions for liabilities
Deferred tax
(275,150)
(140,524)
Net assets
1,956,615
1,544,107
Called up share capital
100
100
Share premium
395,901
395,901
Revaluation reserve
572,700
572,700
Profit and loss account
987,914
575,406
Shareholders' funds
1,956,615
1,544,107
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2025 and were signed on its behalf by
Mr Moshe Magal
Director
Company Registration No. 10896236
Magal Bond Properties Limited
Notes to the Accounts
for the year ended 31 August 2025
Magal Bond Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10896236. The registered office is Office 135, Boston House Grove Business Park, Downsview Road,, Wantage, OX12 9FF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents rental income from investment properties and is recognised on a straight-line basis over the period to which the income relates.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on Cost
Motor vehicles
25% on reducing balance
Fixtures & fittings
20% on Cost
Computer equipment
33% on Cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Deferred tax is recognised on revaluation gains on investment properties.
Magal Bond Properties Limited
Notes to the Accounts
for the year ended 31 August 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2024
4,907
103,997
1,199
110,103
At 31 August 2025
4,907
103,997
1,199
110,103
At 1 September 2024
4,381
46,285
1,199
51,865
Charge for the year
275
17,269
-
17,544
At 31 August 2025
4,656
63,554
1,199
69,409
At 31 August 2025
251
40,443
-
40,694
At 31 August 2024
526
57,712
-
58,238
Fair value at 1 September 2024
8,576,000
Net gain from fair value adjustments
361,000
At 31 August 2025
8,937,000
The investment properties were revalued during the year and a net revaluation increase of £361,000 has been recognised in profit or loss. The total fair value of the investment properties at 31 August 2025 is £8,937,000.
Amounts falling due within one year
Other debtors
2,667
18,012
7
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
4,251
4,251
Taxes and social security
67,893
64,101
Other creditors
6,659,256
6,911,749
8
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
28,648
32,899
9
Transactions with related parties
During the year the company had an outstanding loan balance due to a director, Mr Moshe Magal. The balance owed at 31 August 2025 was £6,594,001 (2024: £6,825,301). The loan is unsecured, interest free, and has no fixed repayment terms.
Magal Bond Properties Limited
Notes to the Accounts
for the year ended 31 August 2025
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).