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Mag Residential Ltd

12968586

active
Private Limited Company
Companies House
Health Score
79 / 100

Some Concerns

25/30
Filing
20/30
Financial
34/40
Risk
  • No accounts filed in last 18 months (-5)
  • 3 outstanding charges (-6)

Details

23 HART ROAD, MANCHESTER, M14 7LD
Incorporated 22/10/2020

Compliance

Accounts

Up to date

Confirmation statement

Up to date

Industry

68100
Buying and selling of own real estate

Officers

Mr Umar Farooq

director · Since 22/10/2020

DIRECTOR

BRITISH · ENGLAND · Age 49

Also on 2 other boards

Persons with Significant Control

Mr Umar Farooq

75–100% shares
75–100% votes
Appoint directors

British · England · Age 49

1016, Stockport Road, Manchester, M19 3WN

Notified 22/10/2020

Charges3 outstanding

Charge
outstanding

ALDERMORE BANK PLC

Created 18/10/2024Registered 31/10/2024
Charge
outstanding

ALDERMORE BANK PLC

Created 26/01/2024Registered 26/01/2024
Charge
outstanding

CHARTER COURT FINANCIAL SERVICES LIMITED

Created 29/04/2021Registered 04/05/2021

CompanyRankvs 78196+ SIC 68100 peers
36

Financial strength78th percentile among SIC peers · 20/25
Employees19th percentile among SIC peers · 3/15
LiquidityCurrent ratio 0.02× · 2/20
Longevity6 years trading (max 15) · 6/15
Filing complianceAll filings up to date · 15/15
Outstanding charges -10
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78196Mag Residential Ltd
45
How is this score calculated?
Financial strength20/25 pts

Net worth compared to all companies in the same SIC code with published accounts. Top quartile earns the full 25 points.

Employees3/15 pts

Workforce size relative to sector peers from the most recent accounts. A larger team generally signals commercial scale.

Liquidity2/20 pts

Current assets ÷ current liabilities. A ratio above 2× earns full marks; between 1–2× scores partially; below 0.5× scores minimal points.

Longevity6/15 pts

One point per year of operation since incorporation, capped at 15. Older companies have a proven track record.

Filing compliance15/15 pts

Full 15 points when both annual accounts and confirmation statement are filed on time. Points are deducted for each overdue filing.

Risk deductions

Outstanding charges: -10 pts

Maximum score is 100. Deductions apply for insolvency history, outstanding charges, going concern doubt, or disqualified officers.

Key FinancialsYear ending 31/10/2024

Net Worth

£46k

Balance sheet strength

Cash

—

Cash in the bank

Net Current Assets

-£40k

Working capital

Current Assets

£618

Current Liabilities

£40k

Fixed Assets

£275k

0avg. employees

Balance Sheet

Assets less current liabilities£235k
Prepared with v2025.46.1 micro_entity_frs_105_v1_1_2 filing

EstimatesDerived

YearCurrent RatioImplied Profit
20240.02+£45k
20235.62—
20220.06—
202118.41—

Derived from filed accounts. Not audited figures.