Magnet (finance) Limited

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magnet (finance) limited Company Information

Live

Mature

Company Number

01320035

Website

magnetmfb.com

Registered Address

3 moor field whalley, clitheroe, lancashire, BB7 9SA

Industry

Activities of other holding companies (not including agricultural, production, construction, distribution and financial services holding companies) n.e.c.

Telephone

01254822017

Next Accounts Due

April 2025

Group Structure

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Directors

Agnes Seery32 Years

Helen Mitchell28 Years

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Shareholders

h.j. mitchell 35%

r.l. mcloughlin 35%

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magnet (finance) limited Estimated Valuation

£0

Pomanda estimates the enterprise value of MAGNET (FINANCE) LIMITED at £0 based on a Turnover of £0 and 1.22x industry multiple (adjusted for size and gross margin).

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Magnet (finance) Limited is a live company located in lancashire, BB7 9SA with a Companies House number of 01320035. It operates in the activities of other holding companies n.e.c. sector, SIC Code 64209. Founded in July 1977, it's largest shareholder is h.j. mitchell with a 35% stake. Magnet (finance) Limited is a mature, unknown sized company, Pomanda has estimated its turnover at £0 with unknown growth in recent years.

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Pomanda's financial health check has awarded Magnet (Finance) Limited a 1 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 1 areas for improvement. Company Health Check FAQs

Health Rating1out of 5

1 Strong

0 Regular

1 Weak

Size

There is insufficient data available for this Key Performance Indicator!

Growth

There is insufficient data available for this Key Performance Indicator!

EXPORT

Magnet (Finance) Limited's latest turnover from July 2023 is estimated at 0 and the company has net assets of £366 thousand. According to their latest financial statements, we estimate that Magnet (Finance) Limited has no employees and maintains cash reserves of £483 as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Turnover	0	0	0	0	0	0	0	0	308,490	341,486	115,312	110,918	263,104	388,259	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	0	0	0	0	0	0	0	0	210,068	234,283	79,404	75,406	177,119	262,978	0
Gross Profit	0	0	0	0	0	0	0	0	98,422	107,203	35,908	35,512	85,985	125,281	0
Admin Expenses	-61,229	-39,885	-19,231	-19,252	-31,076	-26,100	-27,136	-12,709	98,080	104,940	35,570	36,061	99,509	115,859	-34,273
Operating Profit	61,229	39,885	19,231	19,252	31,076	26,100	27,136	12,709	342	2,263	338	-549	-13,524	9,422	34,273
Interest Payable	63,523	41,869	22,507	22,584	31,448	23,273	23,584	12,636	0	0	135	1,083	2,707	1,759	0
Interest Receivable	42	18	2	3	30	58	65	172	135	161	582	478	41	136	105
Pre-Tax Profit	-2,253	-1,966	-3,273	-3,329	-342	2,885	3,617	245	478	2,424	784	-1,154	-16,190	7,799	34,378
Tax	0	0	0	0	0	-548	-687	-49	-95	-509	-180	0	0	-2,184	-9,626
Profit After Tax	-2,253	-1,966	-3,273	-3,329	-342	2,337	2,930	196	382	1,915	604	-1,154	-16,190	5,615	24,752
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-2,253	-1,966	-3,273	-3,329	-342	2,337	2,930	196	382	1,915	604	-1,154	-16,190	5,615	24,752
Employee Costs	0	0	0	0	0	0	0	0	98,388	97,091	32,046	32,255	64,892	97,199	0
Number Of Employees	0	0	0	0	0	0	0	0	3	3	1	1	2	3	0
EBITDA*	61,229	39,885	19,231	19,252	31,426	26,451	27,487	12,959	442	2,413	518	-5	-12,524	10,715	35,294

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Tangible Assets	0	0	0	0	0	730,350	730,701	730,000	730,250	730,350	730,500	730,680	1,076,900	1,049,258	1,015,294
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	965,052	965,052	965,052	965,052	965,052	0	0	0	0	0	50	50	50	50	50
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	965,052	965,052	965,052	965,052	965,052	730,350	730,701	730,000	730,250	730,350	730,550	730,730	1,076,950	1,049,308	1,015,344
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	0	0	0	0	0	0	0	0	49,710	54,563	7,682	10,700	44,128	55,881	52,456
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	0	0	0	0	1,484	3,049	3,484	4,367	0	0	0	0	0	0	0
Cash	483	1,183	1,634	2,651	2,968	5,116	18,152	33,743	34,966	19,171	45,354	187,254	4,075	12,292	41,983
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	483	1,183	1,634	2,651	4,452	8,165	21,636	38,110	84,676	73,734	53,036	197,954	48,203	68,173	94,439
total assets	965,535	966,235	966,686	967,703	969,504	738,515	752,337	768,110	814,926	804,084	783,586	928,684	1,125,153	1,117,481	1,109,783
Bank overdraft	0	16,000	16,000	16,000	0	0	0	25,000	0	0	0	0	0	0	0
Bank loan	0	0	0	0	16,000	0	4,167	0	0	0	0	0	0	0	0
Trade Creditors	0	0	0	0	0	0	0	0	39,487	44,170	33,897	27,893	31,294	70,526	55,445
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	100	7,341	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	20,500	21,999	17,400	10,900	11,067	11,117	11,603	7,389	0	0	0	0	0	0	0
total current liabilities	20,500	37,999	33,400	26,900	27,067	11,117	15,870	39,730	39,487	44,170	33,897	27,893	31,294	70,526	55,445
loans	579,012	559,960	563,044	142,874	565,593	350,212	361,618	356,461	0	0	0	4,167	29,167	54,137	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	424,414	0	0	0	0	403,716	388,573	380,263	527,802	694,716	606,652	673,787
provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	579,012	559,960	563,044	567,288	565,593	350,212	361,618	356,461	403,716	388,573	380,263	531,969	723,883	660,789	673,787
total liabilities	599,512	597,959	596,444	594,188	592,660	361,329	377,488	396,191	443,203	432,743	414,160	559,862	755,177	731,315	729,232
net assets	366,023	368,276	370,242	373,515	376,844	377,186	374,849	371,919	371,723	371,341	369,426	368,822	369,976	386,166	380,551
total shareholders funds	366,023	368,276	370,242	373,515	376,844	377,186	374,849	371,919	371,723	371,341	369,426	368,822	369,976	386,166	380,551

	Jul 2023	Jul 2022	Jul 2021	Jul 2020	Jul 2019	Jul 2018	Jul 2017	Jul 2016	Jul 2015	Jul 2014	Jul 2013	Jul 2012	Jul 2011	Jul 2010	Jul 2009
Operating Activities
Operating Profit	61,229	39,885	19,231	19,252	31,076	26,100	27,136	12,709	342	2,263	338	-549	-13,524	9,422	34,273
Depreciation	0	0	0	0	350	351	351	250	100	150	180	544	1,000	1,293	1,021
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	0	0	0	0	0	-548	-687	-49	-95	-509	-180	0	0	-2,184	-9,626
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	0	0	0	-1,484	-1,565	-435	-883	-45,343	-4,853	46,881	-3,018	-33,428	-11,753	3,425	52,456
Creditors	0	0	0	0	0	0	0	-39,487	-4,683	10,273	6,004	-3,401	-39,232	15,081	55,445
Accruals and Deferred Income	-1,499	4,599	6,500	-167	-50	-486	4,214	7,389	0	0	0	0	0	0	0
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	59,730	44,484	25,731	20,569	32,941	25,852	31,897	26,155	517	-34,704	9,360	30,022	-40,003	20,187	28,657
Investing Activities
capital expenditure	0	0	0	0	730,000	0	-1,052	0	0	0	0	345,676	-28,642	-35,257	-1,016,315
Change in Investments	0	0	0	0	965,052	0	0	0	0	-50	0	0	0	0	50
cash flow from investments	0	0	0	0	-235,052	0	-1,052	0	0	50	0	345,676	-28,642	-35,257	-1,016,365
Financing Activities
Bank loans	0	0	0	-16,000	16,000	-4,167	4,167	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	-100	-7,241	7,341	0	0	0	0	0	0	0
Long term loans	19,052	-3,084	420,170	-422,719	215,381	-11,406	5,157	356,461	0	0	-4,167	-25,000	-24,970	54,137	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	-424,414	424,414	0	0	0	-403,716	15,143	8,310	-147,539	-166,914	88,064	-67,135	673,787
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	355,799
interest	-63,481	-41,851	-22,505	-22,581	-31,418	-23,215	-23,519	-12,464	135	161	447	-605	-2,666	-1,623	105
cash flow from financing	-44,429	-44,935	-26,749	-36,886	199,963	-38,888	-21,436	-52,378	15,278	8,471	-151,259	-192,519	60,428	-14,621	1,029,691
cash and cash equivalents
cash	-700	-451	-1,017	-317	-2,148	-13,036	-15,591	-1,223	15,795	-26,183	-141,900	183,179	-8,217	-29,691	41,983
overdraft	-16,000	0	0	16,000	0	0	-25,000	25,000	0	0	0	0	0	0	0
change in cash	15,300	-451	-1,017	-16,317	-2,148	-13,036	9,409	-26,223	15,795	-26,183	-141,900	183,179	-8,217	-29,691	41,983

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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MAGNET (FINANCE) LIMITED group structure

Magnet (Finance) Limited has no subsidiary companies.

Ultimate parent company

MAGNET (FINANCE) LIMITED

01320035

MAGNET (FINANCE) LIMITED Shareholders

h.j. mitchell	35%
r.l. mcloughlin	35%
a.e. seery	29%
a.l. seery	1%

Magnet (Finance) Limited currently has 4 directors. The longest serving directors include Mrs Agnes Seery (Feb 1992) and Mrs Helen Mitchell (Dec 1995).

officer	country	age	start	end	role
Mrs Agnes Seery	England	75 years	Feb 1992	-	Director
Mrs Helen Mitchell	England	45 years	Dec 1995	-	Director
Mrs Rebecca McLoughlin	England	42 years	Dec 1995	-	Director
Mr Michael Seery		70 years	Mar 2015	-	Director

P&L

July 2023

turnover

operating profit

61.2k

gross margin

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

July 2023

net assets

366k

-0.01%

total assets

965.5k

cash

483

-0.59%

net assets

Total assets minus all liabilities

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company number

01320035

Type

Private limited with Share Capital

industry

64209 - Activities of other holding companies (not including agricultural, production, construction, distribution and financial services holding companies) n.e.c.

incorporation date

July 1977

age

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

incorporated

address

3 moor field whalley, clitheroe, lancashire, BB7 9SA

last accounts submitted

July 2023

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 2 charges/mortgages relating to magnet (finance) limited. Currently there are 2 open charges and 0 have been satisfied in the past.

magnet (finance) limited Company Information

magnet (finance) limited Estimated Valuation

magnet (finance) limited Estimated Valuation

magnet (finance) limited Estimated Valuation

Magnet (finance) Limited Overview

Magnet (finance) Limited Health Check

MAGNET (FINANCE) LIMITED financials

magnet (finance) limited Credit Report and Business Information

Magnet (finance) Limited Competitor Analysis

magnet (finance) limited Ownership

magnet (finance) limited directors

magnet (finance) limited company details

magnet (finance) limited Charges & Mortgages

magnet (finance) limited Companies House Filings - See Documents