REGISTERED NUMBER: 01635438 (England and Wales)

Financial Statements

for the Year Ended 30 November 2025

for

MAG KB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G C S Gates

T P J Gates

G S Cox

D M Fiddy

SECRETARY:

D M Fiddy

REGISTERED OFFICE:

Vulcan Road South

Norwich

NR6 6AF

REGISTERED NUMBER:

01635438 (England and Wales)

AUDITORS:

Rawse, Varley & Co

Statutory Auditor

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Tangible assets

4

95,146

127,915

CURRENT ASSETS

Debtors

5

47,397

79,626

Cash at bank

501,210

453,167

548,607

532,793

CREDITORS

Amounts falling due within one year

6

198,082

211,869

NET CURRENT ASSETS

350,525

320,924

TOTAL ASSETS LESS CURRENT LIABILITIES

445,671

448,839

PROVISIONS FOR LIABILITIES

5,410

8,901

NET ASSETS

440,261

439,938

CAPITAL AND RESERVES

Called up share capital

8

403,333

403,333

Share premium

20,000

20,000

Capital redemption reserve

10,000

10,000

Retained earnings

6,928

6,605

SHAREHOLDERS' FUNDS

440,261

439,938

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2026 and were signed on its behalf by:

G C S Gates - Director

1.	STATUTORY INFORMATION

MAG KB Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the invoiced value of goods and services supplied for the year, less returns and excluding value added tax.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation is calculated to write off the assets over their expected useful lives at the following annual rates:

Plant, equipment, fixtures and fittings

-

15% or 20% of cost

Motor vehicles

- 25% reducing balance

Taxation

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.

Pension contributions

Contributions payable to the group defined contribution pension scheme are charged to profit and loss account when incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant,

equipment

and

vehicles

£

COST

At 1 December 2024

602,832

Additions

2,759

Disposals

(37,310

)

At 30 November 2025

568,281

DEPRECIATION

At 1 December 2024

474,917

Charge for year

35,528

Eliminated on disposal

(37,310

)

At 30 November 2025

473,135

NET BOOK VALUE

At 30 November 2025

95,146

At 30 November 2024

127,915

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

1,581

Amounts owed by group undertakings

21,923

34,978

Other debtors

8,281

15,661

Corporation tax

8,399

13,152

Prepayments and accrued income

8,794

14,254

47,397

79,626

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

53,071

96,688

Social security and other taxes

10,878

13,212

Accruals and deferred income

134,133

101,969

198,082

211,869

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

-

4,240

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

403,333

Ordinary

£1

403,333

403,333

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Varley (Senior Statutory Auditor)

for and on behalf of Rawse, Varley & Co

10.	CONTINGENT LIABILITIES AND GUARANTEES

The company is party to an unlimited composite cross guarantee to its bankers securing the borrowings of group companies. There were no such borrowings at 30 November 2025 - 2024: none.

Overall the group's cash at bank amounted to £17,134,583 - 2024: £16,413,757.

The company is contingently liable under a group registration scheme for VAT liabilities of group companies. At 30 November 2025 such liabilities amounted to £517,701 - 2024: £524,984.

The above arrangements are not expected to have any financial effect on the company.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', from disclosing related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is MAG Group Limited.

The ultimate controlling party is G C S Gates.

The registered office of MAG Group Limited is Vulcan Road South, Norwich NR6 6AF.

13.	SECURED DEBTS

Bank borrowings are secured by a debenture over the company's assets. There were no such borrowings at 30 November 2025 - 2024: none.