Magnihomes Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Magnihomes Ltd

Company Information

Director

Mr Mustafa Hasan Abdulrazzaq Al-Kufaishi

Registered office

37 Lambourne Drive Marton-In-Cleveland Middlesbrough TS7 8QF

Accountants

Chuhan and Singh Partnership Limited Chartered Accountants81 Borough Road Middlesbrough TS1 3AA

Magnihomes Ltd

(Registration number: 14970578)
Balance Sheet as at 29 June 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	110,754	106,000
Current assets
Cash at bank and in hand		3,743	3,481
Creditors: Amounts falling due within one year	5	(30,757)	(24,134)
Net current liabilities		(27,014)	(20,653)
Total assets less current liabilities		83,740	85,347
Creditors: Amounts falling due after more than one year	5	(85,353)	(85,346)
Net (liabilities)/assets		(1,613)	1
Capital and reserves
Called up share capital		1	1
Retained earnings		(1,614)	-
Shareholders' (deficit)/funds		(1,613)	1

For the financial period ending 29 June 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 accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 August 2026
 

......................................... Mr Mustafa Hasan Abdulrazzaq Al-Kufaishi Director

Magnihomes Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2024 to 29 June 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
37 Lambourne Drive
Marton-In-Cleveland
Middlesbrough
TS7 8QF

These financial statements were authorised for issue by the director on 18 August 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue is measured at the fair value of consideration received, on a straight line basis over the lease term.

Tax

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 taxable income.

Magnihomes Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2024 to 29 June 2025 (continued)

2	Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use ovservable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2024 - 1).

4	Investment properties

	2025 £
At 1 July	106,000
Additions	4,754
At 29 June	110,754

The director believes that cost is a close approximation to market value for the properties held at the balance sheet date.

Magnihomes Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2024 to 29 June 2025 (continued)

5

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Accruals and deferred income	900	-
Other creditors	29,857	24,134
	30,757	24,134

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		85,353	85,346