| MAGI INVESTMENTS LIMITED |
| Registered number: |
10411728 |
| Balance Sheet |
| as at 31 October 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
11,525,000 |
|
|
11,920,000 |
|
| Current assets |
| Debtors |
4 |
|
92,306 |
|
|
92,306 |
| Cash at bank and in hand |
|
|
195,807 |
|
|
297,128 |
|
|
|
288,113 |
|
|
389,434 |
|
| Creditors: amounts falling due within one year |
5 |
|
(6,250,488) |
|
|
(1,473,040) |
|
| Net current liabilities |
|
|
|
(5,962,375) |
|
|
(1,083,606) |
|
| Total assets less current liabilities |
|
|
|
5,562,625 |
|
|
10,836,394 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(3,629,526) |
|
|
(8,902,526) |
|
|
|
| Net assets |
|
|
|
1,933,099 |
|
|
1,933,868 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Revaluation reserve |
8 |
|
|
(671,919) |
|
|
(276,919) |
| Profit and loss account |
|
|
|
2,604,918 |
|
|
2,210,687 |
|
| Shareholders' funds |
|
|
|
1,933,099 |
|
|
1,933,868 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Arjun BHATIA |
| Director |
| Approved by the board on 15 July 2026 |
|
| MAGI INVESTMENTS LIMITED |
| Notes to the Accounts |
| for the year ended 31 October 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes (if applicable). Turnover represents the value of rent receivable. |
|
|
Investment properties |
|
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investment properties |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 November 2024 |
11,920,000 |
|
Surplus on revaluation |
(395,000) |
|
At 31 October 2025 |
11,525,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 October 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2025 |
11,525,000 |
|
At 31 October 2024 |
11,920,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
12,289,225 |
|
12,289,225 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
12,289,225 |
|
12,289,225 |
|
The investment properties were measured for the fair value by the directors' by using the recent arm's length market transactions. |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Deferred tax asset |
|
|
|
|
92,306 |
|
92,306 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
5,169,000 |
|
240,000 |
|
Trade creditors |
19,502 |
|
11,204 |
|
Taxation and social security costs |
174,568 |
|
151,099 |
|
Other loans |
780,000 |
|
900,000 |
|
Other creditors |
107,418 |
|
170,737 |
|
|
|
|
|
|
6,250,488 |
|
1,473,040 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
- |
|
5,169,000 |
|
Shareholders' loan |
|
|
|
|
3,629,526 |
|
3,733,526 |
|
|
|
|
|
|
3,629,526 |
|
8,902,526 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
5,169,000 |
|
5,409,000 |
|
|
|
|
|
|
|
|
|
|
The bank loan is secured by first charge over the freehold land and building held by the company. |
| 8 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 November 2024 |
(276,919) |
|
(276,919) |
|
Loss on revaluation of land and buildings |
(395,000) |
|
- |
|
|
At 31 October 2025 |
(671,919) |
|
(276,919) |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
|
The company received loans from the shareholders and their close family members and total loan balance amounting to £4,409,525 (2024: £4,633,525) as at balance sheet date. The loans were divided into short term loans amounting to £780,000(2024:£900,000) shown as other loans: amounts falling due within one year and long term loans amounting to £3,629,525 shown as shareholders' loan. The loans are to be repaid on demand. The rate of interest charged is 0%. |
|
|
| 10 |
Controlling party |
|
|
The company is under the control of its directors and their associates. |
|
|
| 11 |
Other information |
|
|
MAGI INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
The Spinneys |
|
6 Fulmer Drive |
|
Gerrards Cross |
|
SL9 7HJ |