Magic Apparels Limited
06671497
Some Concerns
- Current liabilities exceed current assets (-10)
- Going concern doubt noted in accounts (-10)
- 3 outstanding charges (-6)
Details
Compliance
Last accounts
31/12/2024
full
Next accounts due
30/09/2026
Confirmation statement
Last: 03/05/2026
Due 17/05/2027
Industry
Officers
Persons with Significant Control
Mr Paramjit Singh Bawa
British · United Arab Emirates · Age 46
28, Mortimer Street, London, W1W 7RD
Notified 06/04/2016
Charges3 outstanding
HSBC BANK PLC
HSBC BANK PLC
HSBC INVOICE FINANCE (UK) LTD (THE SECURITY HOLDER)
LUCY WERNICK (HOLDINGS) LIMITED
CompanyRankvs 676+ SIC 96090 peers69
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How is this score calculated?
Net worth compared to all companies in the same SIC code with published accounts. Top quartile earns the full 25 points.
Workforce size relative to sector peers from the most recent accounts. A larger team generally signals commercial scale.
Current assets ÷ current liabilities. A ratio above 2× earns full marks; between 1–2× scores partially; below 0.5× scores minimal points.
One point per year of operation since incorporation, capped at 15. Older companies have a proven track record.
Full 15 points when both annual accounts and confirmation statement are filed on time. Points are deducted for each overdue filing.
Risk deductions
Going concern doubt: -10 pts
Outstanding charges: -10 pts
Maximum score is 100. Deductions apply for insolvency history, outstanding charges, going concern doubt, or disqualified officers.
Going Concern Doubt
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. Our responsibilities and the responsibilities of the director with respect to going concern are de
Key FinancialsYear ending 31/12/2025
Net Worth
£8.0M
Balance sheet strength
Cash
£7.0M
Cash in the bank
Profit Before Tax
£3.0M
Bottom line earnings
Net Current Assets
£7.9M
Working capital
Current Assets
£14.1M
Current Liabilities
£6.2M
Fixed Assets
£53k
Debtors
£651k
Cost of Sales
£23.9M
Admin Expenses
£906k
Profit After Tax
£2.3M
Tax at Year End
People Costs
Balance Sheet
EstimatesDerived
| Year | Current Ratio | Implied Profit |
|---|---|---|
| 2025 | 2.28 | +£690k |
| 2024 | 1.87 | +£1.9M |
| 2023 | 1.82 | — |
Derived from filed accounts. Not audited figures.