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Registered number: 10178713 MAGEN DEVELOPMENTS LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
MAGEN DEVELOPMENTS LIMITED
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 6
MAGEN DEVELOPMENTS LIMITED REGISTERED NUMBER:10178713
STATEMENT OF FINANCIAL POSITION AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 4 |  | 18 |  | 18
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 216,687 |  | 233,649 |
Cash at bank and in hand |  | 176 |  | 319 |
|  | 216,863 |  | 233,968 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 6 | (151,810) |  | (159,818) |
Net current assets |  |  | 65,053 |  | 74,150
Total assets less current liabilities |  |  | 65,071 |  | 74,168
Creditors: amounts falling due after more than one year | 7 |  | (31,283) |  | (38,280)
Net assets |  |  | 33,788 |  | 35,888
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 1,000 |  | 1,000
Profit and loss account |  |  | 32,788 |  | 34,888
|  |  | 33,788 |  | 35,888
Page 1
MAGEN DEVELOPMENTS LIMITED REGISTERED NUMBER:10178713
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MAY 2025 The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2026.
R Fadlun
Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
MAGEN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Magen Developments Limited is a Company registered in England and Wales. The registered office address is at 20 Coxon Street, Spondon, Derby, DE21 7JG. The principal activity of the Company continued to be that of a holding company. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Valuation of investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.3 | Basic financial instruments
The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties. Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method. Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
MAGEN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
4. | Fixed asset investments
|  | Unlisted investments
|  | £
| Cost or valuation |
| At 1 June 2024 | 18
| At 31 May 2025 | 18
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 216,687 | 233,649
Page 4
MAGEN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 7,036 | 6,863
| Trade creditors | - | 2,100
| Other creditors | 143,274 | 149,355
| Accruals and deferred income | 1,500 | 1,500
|  | 151,810 | 159,818
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 31,283 | 38,280
8. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 7,036 | 6,863
| Amounts falling due 1-2 years |  |
| Bank loans | 7,214 | 7,036
| Amounts falling due 2-5 years |  |
| Bank loans | 22,745 | 22,184
| Amounts falling due after more than 5 years |  |
| Bank loans | 1,324 | 9,060
|  | 38,319 | 45,143
Page 5
MAGEN DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 257 (2024 - 257) A Ordinary shares of £1 each | 257 | 257
|  | 245 (2024 - 245) B Ordinary shares of £1 each | 245 | 245
|  | 166 (2024 - 166) C Ordinary shares of £1 each | 166 | 166
|  | 166 (2024 - 166) D Ordinary shares of £1 each | 166 | 166
|  | 41 (2024 - 41) E Ordinary shares of £1 each | 41 | 41
|  | 125 (2024 - 125) F Ordinary shares of £1 each | 125 | 125
|  |  | 1,000 | 1,000
| Ordinary shares rank pari passu for voting and participation.
Page 6