| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2026 |
| for |
| Businessmagnet Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2026 |
| for |
| Businessmagnet Limited |
| Businessmagnet Limited (Registered number: 05145869) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2026 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 |
| Businessmagnet Limited (Registered number: 05145869) |
| Balance Sheet |
| 30 June 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash and cash equivalents |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Businessmagnet Limited (Registered number: 05145869) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2026 |
| 1. | STATUTORY INFORMATION |
| Businessmagnet Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Turnover |
| Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. |
| The company recognises revenue when; |
| The amount of revenue can be reliably measured; |
| it is probable that future economic benefits will flow to the entity; |
| and specific criteria have been met for each of the company's activities. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Amortisation |
| Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: |
| Asset class | Amortisation method and rate |
| Website developments | 10% straight line |
| Businessmagnet Limited (Registered number: 05145869) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
| Depreciation |
| Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows: |
| Asset class | Depreciation method and rate |
| Motor vehicles | 25% straight line |
| Computer equipment | 25% reducing balance |
| Furniture and fittings | 25% reducing balance |
| Plant and machinery | 25% straight line |
| Leasehold improvements | Over the terms of the lease |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and at bank. |
| Trade debtors |
| Trade debtors are amounts due from customers for services performed in the ordinary course of business. |
| Trade debtors are recognised at the transaction price. |
| Trade debtors are reviewed on an annual basis and any adjustment is made accordingly through the profit and loss account. |
| Businessmagnet Limited (Registered number: 05145869) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. |
| Trade creditors are recognised at the transaction price. |
| Leases |
| Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. |
| There is a rent free period representing a lease incentive which has been be spread over the lease term as a reduction to the lease expense. |
| Assets held under finance leases are recognised at the present value of minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation. |
| Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability. |
| Share capital |
| Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. |
| Dividends |
| Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 July 2025 |
| Additions |
| At 30 June 2026 |
| AMORTISATION |
| At 1 July 2025 |
| Charge for year |
| At 30 June 2026 |
| NET BOOK VALUE |
| At 30 June 2026 |
| At 30 June 2025 |
| Businessmagnet Limited (Registered number: 05145869) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2026 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2025 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2026 |
| DEPRECIATION |
| At 1 July 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2026 |
| NET BOOK VALUE |
| At 30 June 2026 |
| At 30 June 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Provision for bad debts | (7,000 | ) | (7,000 | ) |
| Other debtors |
| Directors' current accounts | - | 15 |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 173,222 | 165,037 |
| Wages and salaries control | 7 | 7 |
| Pension contributions unpaid | 3,359 | 2,989 |
| HP liability less than 1 year | 38,636 | 36,766 |
| Directors' current accounts | 957 | 113 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| HP liability more than 1 year |
| Businessmagnet Limited (Registered number: 05145869) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2026 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2026 | 2025 |
| value: | £ | £ |
| ORDINARY | £1 | 100 | 100 |
| 10. | OTHER FINANCIAL COMMITMENTS |
| Amounts not provided for in the balance sheet |
| The total amount of financial commitments not included in the balance sheet is £88,875 (2025 - £106,750). |
| The financial commitment is in respect of a rental agreement until February 2030. |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the balance sheet date Mr D French, a director, was owed £453 (2025 - (£15)) by the company. |
| At the balance sheet date Mr L Cheesman, a director, was owed £504 (2025 - £113) by the company. |
| These loans are provided interest free and are repayable on demand. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr D French and Mr L Cheesman, by virtue of their shareholdings. |