REGISTERED NUMBER: 13527818 (England and Wales)

MAG SPECIALIST TRAINING CONSULTANCY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

M A Allison-Griffiths

REGISTERED OFFICE:

C/O Bevan Buckland LLP

Ground Floor

Cardigan House

Swansea

SA7 9LA

REGISTERED NUMBER:

13527818 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

FIXED ASSETS

Tangible assets

4

47,579

69,205

CURRENT ASSETS

Debtors

5

15,529

6,119

Cash at bank

4,796

827

20,325

6,946

CREDITORS

Amounts falling due within one year

6

46,933

76,134

NET CURRENT LIABILITIES

(26,608

)

(69,188

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,971

17

CREDITORS

Amounts falling due after more than one year

7

(35,412

)

-

PROVISIONS FOR LIABILITIES

(7,618

)

(11,636

)

NET LIABILITIES

(22,059

)

(11,619

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(22,061

)

(11,621

)

(22,059

)

(11,619

)

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

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

The director acknowledges his 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 director and authorised for issue on 2 January 2026 and were signed by:

M A Allison-Griffiths - Director

1.	STATUTORY INFORMATION

MAG Specialist Training Consultancy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company provides consultancy services, and the income is recognised when the service is provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Going Concern

The financial statements have been prepared on a going concern basis. In reaching this conclusion, the directors have considered the company’s financial position and future cash flow projections. Although the company reports negative retained earnings at the year end, this primarily reflects non-cash adjustments rather than underlying trading losses. The business continues to generate positive operating cash flows, and the directors expect this trend to continue.

Furthermore, the company holds a significant level of receivables, which are anticipated to be realised in the normal course of business, providing additional liquidity. On this basis, the directors are satisfied that the company has sufficient resources to meet its obligations as they fall due and to continue in operational existence for the foreseeable future. Accordingly, the going concern basis of preparation has been adopted.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2024

90,388

Additions

1,491

At 31 July 2025

91,879

DEPRECIATION

At 1 August 2024

21,183

Charge for year

23,117

At 31 July 2025

44,300

NET BOOK VALUE

At 31 July 2025

47,579

At 31 July 2024

69,205

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

14,684

5,674

Other debtors

845

445

15,529

6,119

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Hire purchase contracts

6,215

-

Taxation and social security

6,868

1,607

Other creditors

33,850

74,527

46,933

76,134

Included within creditors is an amount of £31,879 (2024: £23,242) which is owed to the director. This amount is repayable on demand and interest free.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Hire purchase contracts

35,412

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

as restated

£

£

Hire purchase contracts

41,627

-

The hire purchase liability is secured against the vehicle to which it relates.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MAG Specialist Training Consultancy Ltd for the year ended 31 July 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of MAG Specialist Training Consultancy Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MAG Specialist Training Consultancy Ltd and state those matters that we have agreed to state to the director of MAG Specialist Training Consultancy Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MAG Specialist Training Consultancy Ltd and its director for our work or for this report.

It is your duty to ensure that MAG Specialist Training Consultancy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MAG Specialist Training Consultancy Ltd. You consider that MAG Specialist Training Consultancy Ltd 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 financial statements of MAG Specialist Training Consultancy Ltd. 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 financial statements.

Bevan Buckland LLP

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

2 January 2026