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Company No: 02013822 (England and Wales)

# MAG HOLDINGS LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH THE REGISTRAR

MAG HOLDINGS LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

Contents

MAG HOLDINGS LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
MAG HOLDINGS LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

DIRECTOR | M C Alexander

SECRETARY | C A Alexander

REGISTERED OFFICE | 17A Larkfield Road
| Farnham
| Surrey
| GU9 7DB
| United Kingdom

COMPANY NUMBER | 02013822 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT

MAG HOLDINGS LIMITED

## STATEMENT OF FINANCIAL POSITION

AS AT 31 MAY 2025
MAG HOLDINGS LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

AS AT 31 MAY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 478,894 |  | 439,411
Investments | 4 | 200 |  | 200
|  | 479,094 |  | 439,611
Current assets |  |  |  |
Stocks |  | 930,070 |  | 930,070
Debtors | 5 | 123,378 |  | 115,845
Cash at bank and in hand |  | 3,108 |  | 10,883
|  | 1,056,556 |  | 1,056,798
Creditors: amounts falling due within one year | 6 | ( 940,496) |  | ( 976,518)
Net current assets |  | 116,060 |  | 80,280
Total assets less current liabilities |  | 595,154 |  | 519,891
Creditors: amounts falling due after more than one year |  | ( 88) |  | ( 88)
Net assets |  | 595,066 |  | 519,803
Capital and reserves |  |  |  |
Called-up share capital |  | 10,002 |  | 10,002
Revaluation reserve |  | 273,119 |  | 223,119
Capital redemption reserve |  | 20,000 |  | 20,000
Profit and loss account |  | 291,945 |  | 266,682
Total shareholders' funds |  | 595,066 |  | 519,803

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of MAG Holdings Limited (registered number: 02013822) were approved and authorised for issue by the Director on 21 January 2026. They were signed on its behalf by:

M C Alexander Director |

MAG HOLDINGS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
MAG HOLDINGS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

MAG Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 17A Larkfield Road, Farnham, Surrey, GU9 7DB,, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property | not depreciated
Vehicles | 4 years straight line
Fixtures and fittings | 25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents 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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 2 |  | 2

#### 3. Tangible assets

| Investment property |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 June 2024 | 400,000 |  | 39,999 |  | 8,505 |  | 448,504
Revaluations | 50,000 |  | 0 |  | 0 |  | 50,000
Disposals | 0 |  | 0 |  | ( 665) |  | ( 665)
At 31 May 2025 | 450,000 |  | 39,999 |  | 7,840 |  | 497,839
Accumulated depreciation |  |  |  |  |  |  |
At 01 June 2024 | 0 |  | 1,250 |  | 7,843 |  | 9,093
Charge for the financial year | 0 |  | 10,000 |  | 166 |  | 10,166
Disposals | 0 |  | 0 |  | ( 314) |  | ( 314)
At 31 May 2025 | 0 |  | 11,250 |  | 7,695 |  | 18,945
Net book value |  |  |  |  |  |  |
At 31 May 2025 | 450,000 |  | 28,749 |  | 145 |  | 478,894
At 31 May 2024 | 400,000 |  | 38,749 |  | 662 |  | 439,411

#### 4. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 June 2024 | 200
At 31 May 2025 | 200
Carrying value at 31 May 2025 | 200
Carrying value at 31 May 2024 | 200

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by own subsidiaries | 105,755 |  | 94,255
Prepayments | 5,290 |  | 9,257
Other debtors | 12,333 |  | 12,333
| 123,378 |  | 115,845

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Amounts owed to director | 900,153 |  | 945,457
Accruals | 13,385 |  | 13,265
Taxation and social security | 14,625 |  | 5,463
Other creditors | 12,333 |  | 12,333
| 940,496 |  | 976,518