Magnet Store Ltd

Magnet Store Ltd, based in Leigh, UK, is a small, family-run business with an active status. Founded seven years ago in 2017, it employs just two people and holds £85,448 in assets. The company, with two directors and two owners, operates from a real address and enjoys a perfect 5.0 Google rating based on 11 reviews. It’s a regular importer of electrical machinery and equipment, with 7 months of import activity recorded, the latest being January 2025.

The company’s website, magnetstore.co.uk, is a dedicated online retailer specializing in neodymium magnets. It offers a wide range of shapes, sizes, grades, and coatings—catering to both off-the-shelf and custom-manufactured options. The site highlights its expertise in magnetic solutions, serving industries from 3D printing to oil and gas, and even offering technical support. It’s clear that Magnet Store Ltd is positioning itself as a go-to source for high-performance magnets, with a focus on rapid lead times and precision manufacturing.

Financially, Magnet Store Ltd shows a mixed picture. Cash reserves increased by 19%, reaching £60,000, while current assets also grew by 27% to £85,000. However, creditors significantly increased by 86% to £19,000, and trade debtors jumped by an astonishing 1,200% to £4,300. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it remain agile, but the large increase in debtors could indicate challenges with customer payments. The company’s retained earnings accumulated losses increased by 19% to £68,000. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

In short, Magnet Store Ltd appears to be growing, but it’s also facing some financial pressures. The company’s focus on custom manufacturing and technical expertise, however, suggests a strong foundation for continued success, even if it needs to keep a close eye on its debtor management.

Registered in England/Wales under the registration number 10908449, with a registered address at WN7 5SE, England, Leigh, Unit 5 Victoria Industrial Estate, Victoria Street.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.