REGISTERED NUMBER: 08966938 (England and Wales)

MAGNET BUILDING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C A Magnet

REGISTERED OFFICE:

8 Church Green East

Redditch

Worcestershire

B98 8BP

REGISTERED NUMBER:

08966938 (England and Wales)

ACCOUNTANTS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Tangible assets

4

810,706

866,829

CURRENT ASSETS

Stocks

4,344

5,675

Debtors

5

132,307

84,302

Cash at bank and in hand

271,777

120,657

408,428

210,634

CREDITORS

Amounts falling due within one year

6

759,529

591,425

NET CURRENT LIABILITIES

(351,101

)

(380,791

)

TOTAL ASSETS LESS CURRENT LIABILITIES

459,605

486,038

CREDITORS

Amounts falling due after more than one year

7

-

(6,837

)

PROVISIONS FOR LIABILITIES

(202,677

)

(216,707

)

NET ASSETS

256,928

262,494

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

256,878

262,444

SHAREHOLDERS' FUNDS

256,928

262,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 October 2026 and were signed by:

C A Magnet - Director

1.	STATUTORY INFORMATION

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2025

1,347,495

13,560

391,294

1,752,349

Additions

219,232

666

4,780

224,678

Disposals

(6,744

)

-

(40,412

)

(47,156

)

At 31 March 2026

1,559,983

14,226

355,662

1,929,871

DEPRECIATION

At 1 April 2025

706,437

7,842

171,241

885,520

Charge for year

214,248

1,458

53,575

269,281

Eliminated on disposal

(3,836

)

-

(31,800

)

(35,636

)

At 31 March 2026

916,849

9,300

193,016

1,119,165

NET BOOK VALUE

At 31 March 2026

643,134

4,926

162,646

810,706

At 31 March 2025

641,058

5,718

220,053

866,829

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 April 2025

and 31 March 2026

122,000

DEPRECIATION

At 1 April 2025

73,871

Charge for year

12,032

At 31 March 2026

85,903

NET BOOK VALUE

At 31 March 2026

36,097

At 31 March 2025

48,129

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

52,766

16,386

Other debtors

79,541

67,916

132,307

84,302

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

1,769

10,467

Hire purchase contracts (see note 8)

5,068

14,557

Trade creditors

103,105

39,634

Amounts owed to group undertakings

535,668

441,589

Taxation and social security

106,965

77,952

Other creditors

6,954

7,226

759,529

591,425

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

-

1,769

Hire purchase contracts (see note 8)

-

5,068

-

6,837

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.26

31.3.25

£

£

Net obligations repayable:

Within one year

5,068

14,557

Between one and five years

-

5,068

5,068

19,625

Non-cancellable

operating leases

31.3.26

31.3.25

£

£

Within one year

2,687

-

Between one and five years

6,943

-

9,630

-