Electro-Mag Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 02812118 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ELECTRO-MAG LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M W Alexander

Mrs S L Alexander

SECRETARY:

M W Alexander

REGISTERED OFFICE:

The Barns

42 Church Road

Tilney St Lawrence

King's Lynn

Norfolk

PE34 4QQ

REGISTERED NUMBER:

02812118 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

54,305

66,089

Investment property

6

160,000

214,305

226,089

CURRENT ASSETS

Stocks

36,588

51,558

Debtors

7

104,506

98,939

Cash at bank and in hand

103,800

91,858

244,894

242,355

CREDITORS

Amounts falling due within one year

8

42,331

65,451

NET CURRENT ASSETS

202,563

176,904

TOTAL ASSETS LESS CURRENT
LIABILITIES

416,868

402,993

CREDITORS

Amounts falling due after more than one
year

9

(110,183

)

(65,824

)

PROVISIONS FOR LIABILITIES

(9,908

)

(11,085

)

NET ASSETS

296,777

326,084

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

11

28,058

Retained earnings

268,619

297,926

SHAREHOLDERS' FUNDS

296,777

326,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

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 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 18 September 2026 and were signed on its behalf by:

M W Alexander - Director

1.	STATUTORY INFORMATION

Electro-Mag Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

4% on cost

Plant and machinery

-

25% on cost and 25% on reducing balance

Fixtures and fittings

-

33% on cost and 25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment properties in accordance with Financial Reporting Standard 102 are revalued annually and the aggregate surplus or deficit included in total comprehensive income together with a provision for corporation tax on capital gains which would arise if in the future the properties were sold at the balance sheet value. The net amount is not distributable and transferred to a fair value reserve.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

Consolidation

The parent company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

80,000

AMORTISATION

At 1 January 2025

and 31 December 2025

80,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

Motor

improvements

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2025

155,755

256,241

27,355

18,803

458,154

Additions

-

833

-

833

Disposals

-

(1,600

)

-

(1,600

)

At 31 December 2025

155,755

254,641

28,188

18,803

457,387

DEPRECIATION

At 1 January 2025

114,179

233,565

26,072

18,249

392,065

Charge for year

6,230

5,329

917

139

12,615

Eliminated on disposal

-

(1,598

)

-

(1,598

)

At 31 December 2025

120,409

237,296

26,989

18,388

403,082

NET BOOK VALUE

At 31 December 2025

35,346

17,345

1,199

415

54,305

At 31 December 2024

41,576

22,676

1,283

554

66,089

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

160,000

NET BOOK VALUE

At 31 December 2025

160,000

At 31 December 2024

160,000

Fair value at 31 December 2025 is represented by:

£

Valuation in 2025

160,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.12.25

31.12.24

£

Cost

127,231

The investment property was valued on an open market basis on 31 December 2025 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

40,959

42,625

Other debtors

63,547

56,314

104,506

98,939

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Bank loans and overdrafts

13,491

16,120

Trade creditors

9,487

12,488

Taxation and social security

16,916

28,546

Other creditors

2,437

8,297

42,331

65,451

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.25

31.12.24

£

Bank loans

12,800

27,140

Amounts owed to group undertakings

97,383

38,684

110,183

65,824

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due in more than 5

years

-

2,889

-

2,889

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

Bank loans

19,282

25,935

The bank loans are secured by way of a fixed charge on property owned by the company in favour of National Westminster Bank PLC.

11.

RESERVES

Fair

value

reserve

£

At 1 January 2025

and 31 December 2025

28,058

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

31.12.25

31.12.24

£

M W Alexander and Mrs S L Alexander

Balance outstanding at start of year

52,878

80,375

Amounts advanced

73,554

107,461

Amounts repaid

(65,152

)

(134,958

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

61,280

52,878

Interest on overdrawn balances in excess of £10,000 per director has been charged at 2.25% per annum until 5 April 2025 and 3.75% thereafter.