MAGNETIC SYSTEMS TECHNOLOGY LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -33%

  £15,880,652 → £10,635,625

  lowest in 4 filed years

• Cash

  +117.4%

  £77,491 → £168,488

• Net assets

  +4.6%

  £4,680,149 → £4,895,817

  highest in 4 filed years

• Employees

  -18.3%

  131 → 107

  lowest in 4 filed years

• Operating profit

  -138.1%

  £583,718 → -£222,581

• Profit before tax

  -254.2%

  £301,739 → -£465,191

• Wages

  -10.2%

  £4,758,735 → £4,273,872

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. MAGNETIC SYSTEMS TECHNOLOGY LIMITED 1993-01-06 → present
2. ARBREW LIMITED 1992-11-09 → 1993-01-06

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Hawsons Chartered Accountants

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Significant events

• “In 2024 the UK market for electric commercial vehicles over 7.5t declined with total registrations of new vehicles dropping from those in 2023.”
• “During 2024 Magtec continued to broaden our business base to include drive systems for the rail and defence sectors where there are clear opportunities for growth.”
• “Turnover in 2024 had a reduction compared to 2023.”
• “In 2024 the product mix led to an improvement in gross margin from 50% to 68% but the staff costs remained high, leading to a loss before tax of £465k but Magtec retained a profit after tax of £216k.”
• “The UK MoD test program for three military vehicles converted to series hybrid electric by Magtec in 2023 led to a follow-on contract to upgrade the vehicles and prepare them for trials with the UK Army.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.