Mag Homes Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 08260675

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,201		4,201

			4,201		4,201
CURRENT ASSETS
Stocks	5	-		30,000
Debtors	6	22,182		22,182

		22,182		52,182
Creditors: Amounts Falling Due Within One Year	7	(45,540 )		(44,123 )

NET CURRENT ASSETS (LIABILITIES)			(23,358 )		8,059

TOTAL ASSETS LESS CURRENT LIABILITIES			(19,157 )		12,260

Creditors: Amounts Falling Due After More Than One Year	8		(59,934 )		(59,934 )

NET LIABILITIES			(79,091 )		(47,674 )

CAPITAL AND RESERVES
Called up share capital	9		10		10
Profit and Loss Account			(79,101 )		(47,684 )

SHAREHOLDERS' FUNDS			(79,091)		(47,674)

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Mag Homes Limited

Balance Sheet (continued)

As At 31 October 2025

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Gavin Teague

Director

29 October 2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Mag Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08260675 . The registered office is C/O Mj Evans & Co Minerva Way, Brunel Road, Newton Abbot, Devon, TQ12 4PJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 November 2024	17,897

As at 31 October 2025	17,897

Depreciation
As at 1 November 2024	13,696

As at 31 October 2025	13,696

...CONTINUED

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Mag Homes Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

Net Book Value
As at 31 October 2025	4,201

As at 1 November 2024	4,201

5. Stocks

	2025	2024
	£	£
Work in progress	-	30,000

6. Debtors

	2025	2024
	£	£
Due after more than one year
Other debtors	22,182	22,182

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Bank loans and overdrafts	11,620	11,620
Other creditors	2,600	2,000
Taxation and social security	31,320	30,503

	45,540	44,123

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	30,170	30,170
Other creditors	29,764	29,764

	59,934	59,934

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	10	10

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