Magna & Co Development Ltd
14213463
Some Concerns
- Negative net worth (-10)
- Current liabilities exceed current assets (-10)
- 2 outstanding charges (-4)
Details
Compliance
Accounts
Confirmation statement
Industry
Officers
Persons with Significant Control
Mr Temitope Afolabi
British · United Kingdom · Age 41
20-22, Wenlock Road, London, N1 7GU
Notified 04/07/2022
Former PSCs
Mr Kehinde Olayinka Farinloye
Ceased 09/02/2023
Mrs Juliet Kapena
Ceased 09/02/2023
Charges2 outstanding
YORKSHIRE BUILDING SOCIETY
ACRE LANE FUNDING 3 LTD
MINT PROPERTY FINANCE LIMITED
CompanyRankvs 85188+ SIC 41100 peers14
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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
Outstanding charges: -10 pts
Maximum score is 100. Deductions apply for insolvency history, outstanding charges, going concern doubt, or disqualified officers.
Key FinancialsYear ending 31/07/2025
Net Worth
-£188k
Balance sheet strength
Cash
-£3k
Cash in the bank
Net Current Assets
-£276k
Working capital
Current Assets
£208k
Current Liabilities
£484k
Fixed Assets
£1.2M
Debtors
£211k
Balance Sheet
EstimatesDerived
| Year | Current Ratio | Implied Profit |
|---|---|---|
| 2025 | 0.43 | -£76k |
| 2024 | 3.77 | -£92k |
| 2023 | 0.98 | — |
Derived from filed accounts. Not audited figures.