Company No: 06277940 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	36,219		26,028
Investment property	4	979,576		729,357
		1,015,795		755,385
Current assets
Debtors	5	5,647		5,682
Cash at bank and in hand		1,876		2,525
		7,523		8,207
Creditors: amounts falling due within one year	6	( 761,754)		( 794,726)
Net current liabilities		(754,231)		(786,519)
Total assets less current liabilities		261,564		(31,134)
Creditors: amounts falling due after more than one year	7	( 293,155)		( 3,546)
Net liabilities		( 31,591)		( 34,680)
Capital and reserves
Called-up share capital	9	1,000		1,000
Profit and loss account		( 32,591 )		( 35,680 )
Total shareholders' deficit		( 31,591)		( 34,680)

For the financial year ending 31 December 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 Magal Properties Limited (registered number: 06277940) were approved and authorised for issue by the Director on 28 April 2026. They were signed on its behalf by:

Tom Maurice Magal Director

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

Magal Properties 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 Ash Grove, Westhide, Hereford, HR1 3RL, 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 £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £31,591. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Plant and machinery	4 years straight line
Vehicles	25 % reducing balance
Office equipment	25 % reducing balance
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	0		0

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2025	30,728		34,417		9,681		8,057		82,883
Additions	0		15,838		0		1,773		17,611
At 31 December 2025	30,728		50,255		9,681		9,830		100,494
Accumulated depreciation
At 01 January 2025	28,840		14,519		7,178		6,318		56,855
Charge for the financial year	884		5,305		626		605		7,420
At 31 December 2025	29,724		19,824		7,804		6,923		64,275
Net book value
At 31 December 2025	1,004		30,431		1,877		2,907		36,219
At 31 December 2024	1,888		19,898		2,503		1,739		26,028

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	729,357
Additions	250,219
As at 31 December 2025	979,576

Assumptions

These assumptions were arrived at taking account of information and advice from external property consultants, in-house property experts, publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements. The 2025 valuations were made by the director, on an open market value for existing use basis.

5. Debtors

	2025		2024
	£		£
Trade debtors	4,060		5,538
Prepayments	1,443		0
Other debtors	144		144
	5,647		5,682

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	802		802
Trade creditors	1,962		11,352
Taxation and social security	2,017		5,460
Obligations under finance leases and hire purchase contracts	14,171		5,852
Other creditors	742,802		771,260
	761,754		794,726

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	2,846		3,546
Other loans	290,309		0
	293,155		3,546

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 6,507)		( 1,079)
Charged to the Statement of Income and Retained Earnings	( 1,020)		( 5,428)
At the end of financial year	( 7,527)		( 6,507)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 ordinary shares of £ 1.00 each	1,000		1,000

10. Related party transactions

Transactions with the entity's director

	2025		2024
	£		£
Amounts owed to Directors	726,275		761,659