REGISTERED NUMBER: 07899352 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MAGMA WEALTH MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D W Nash

D A Hine

J R E Bevan

M A Tuckwell

REGISTERED OFFICE:

Magma House

16 Davy Court

Castle Mound Way

Rugby

Warwickshire

CV23 0UZ

REGISTERED NUMBER:

07899352 (England and Wales)

CURRENT ASSETS

Debtors

4

58,648

-

Cash at bank

155,088

139,620

213,736

139,620

CREDITORS

Amounts falling due within one year

5

(193,716

)

(167,007

)

NET CURRENT ASSETS/(LIABILITIES)

20,020

(27,387

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,020

(27,387

)

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

19,720

(27,687

)

SHAREHOLDERS' FUNDS

20,020

(27,387

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

D W Nash - Director

1.	STATUTORY INFORMATION

Magma Wealth Management Limited is a private company limited by shares, registered in England and Wales, registration number 07899352. The company's registered office is Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and the Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

The financial statements are presented in £ sterling.

Turnover

Turnover represents amounts chargeable to clients for professional advice rendered through the financial year. Turnover excludes value added tax and includes expenses recoverable from clients.

Turnover is recognised when the right to consideration has been obtained through performance under each contract. Turnover in respect of contingent or conditional fee arrangements is recognised on the occurrence of the contingent event. Where crystallisation of the contingent event is foreseen at the end of the financial year the carrying value of work in progress is the lower of cost and net realisable value.

Unbilled income is recognised in debtors as accrued income after provision for non - recoverable amounts.

Fees received on account of work to be completed are recorded within creditors falling due within one year.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense is recognised as other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Share capital

Ordinary shares are classified as equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

58,648

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

173,466

139,200

Other creditors

20,250

27,807

193,716

167,007

6.	RELATED PARTY DISCLOSURES

During the year the company declared dividends to Gracechurch Wealth Management LLP, a shareholder, of £354,750 (2024: £338,625). At the year end the balance owed by Gracechurch Wealth Management LLP was £58,648 (2024: (£20,557)) and is included in other debtors / other creditors in the respective periods.

During the year the company declared dividends to Magma Wealth Group Limited a shareholder, of £118,250 (2024: £36,625). At the year end the balance owed to Magma Wealth Group Limited was £20,250 (2024: £7,250) and is included in other creditors.