THE MAGSTIM COMPANY LIMITED
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Cash
£175K
+35.2% vs 2023
Net assets
£5.1M
-7.3% vs 2023
Employees
87
0% vs 2023
Profit before tax
-£670K
+73.5% vs 2023
Net assets
2-year trend · vs Technology median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £9,399,674 | £13,150,921 | +39.9% | |
| Operating profit | -£2,352,131 | -£489,056 | +79.2% | |
| Profit before tax | -£2,531,281 | -£669,976 | +73.5% | |
| Net profit | -£1,744,311 | -£402,806 | +76.9% | |
| Cash | £129,219 | £174,678 | +35.2% | |
| Total assets less current liabilities | £5,499,556 | £5,096,750 | -7.3% | |
| Net assets | £5,499,556 | £5,096,750 | -7.3% | |
| Equity | £5,499,556 | £5,096,750 | -7.3% | |
| Average employees | 87 | 87 | 0% | |
| Wages | £3,645,317 | £3,630,063 | -0.4% | |
| Directors' remuneration | £203,222 | £218,274 | +7.4% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -25.0% | -3.7% | |
| Net margin | -18.6% | -3.1% | |
| Return on capital employed | -42.8% | -9.6% | |
| Current ratio | 1.48x | 1.38x | |
| Interest cover | -13.09x | -2.67x |
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.
Name history
Renamed 1 time since incorporation
- THE MAGSTIM COMPANY LIMITED 1990-02-15 → present
- PHYSIOLOGICAL INSTRUMENTATION LIMITED 1988-10-24 → 1990-02-15
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- UHY Hacker Young
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Board is therefore satisfied that the company will have sufficient resources to meet debts as they fall due for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.”
Significant events
- “Magstim reports a 40% increase in turnover between 2023 and 2024.”
- “Expense controls have been enacted including the postponement of travel and the creation of new "Virtual TMS Demos".”
- “Company's private equity partner chose to convert an outstanding loan in the Company's parent company into additional equity in 2023, further alleviating short-term cash flow issues.”
- “The organisation will continue to develop new products and new markets in the global neurotech device space while directing additional attention to initiatives which strengthen future growth and profitability of the product lines.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 20 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MACKOWSKI, John Matthew | Director | 2015-09-24 | Jun 1954 | American |
| REES, David Scott | Director | 2025-06-03 | May 1978 | British |
Show 20 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CODD, Stephen Stuart | Secretary | — | 2015-10-31 |
| CAMPBELL, William Thomas | Director | 2020-12-01 | 2022-09-05 |
| DAVIES, David Gareth Lloyd | Director | 2022-09-05 | 2025-06-12 |
| DAVIES, David Gareth Lloyd | Director | 2017-06-15 | 2021-05-21 |
| DAVIES, Robin Huw | Director | 2012-03-01 | 2016-11-18 |
| DAVIES, Robin Huw | Director | 1996-11-01 | 1997-12-31 |
| DAVIES-SCOURFIELD, Jennifer | Director | 2009-04-01 | 2016-11-18 |
| FREESTON, Ian Leslie, Professor | Director | — | 2014-10-31 |
| GODBER, Stephen Alison | Director | 2015-06-01 | 2017-06-15 |
| HOVEY, Roy Leonard Anthony | Director | — | 2015-09-24 |
| JALINOUS, Reza, Dr | Director | — | 2015-09-24 |
| KRINKE, Lothar | Director | 2017-06-15 | 2022-03-24 |
| LEWIS, Christopher William | Director | 2013-04-01 | 2015-09-24 |
| LEWIS, Robin William, Honourable | Director | — | 2013-03-31 |
| MULLEN, John Phillip | Director | 2016-11-18 | 2018-03-31 |
| POLSON, Michael John Ross, Dr | Director | 2013-01-01 | 2016-11-18 |
| ROACH, Daniel James William, Doctor | Director | 2012-08-01 | 2014-12-31 |
| STARZEWSKI, John Henry | Director | 2005-02-01 | 2011-12-21 |
| STOLEC-CAMPO, Rhonda | Director | 2022-03-28 | 2026-04-29 |
| WHITTINGTON, Richard Gordon | Director | 2012-08-01 | 2014-12-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Welcony Incorporated | Corporate entity | Shares 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 184 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-17 | AA | accounts | Accounts with accounts type full | |
| 2025-06-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-30 | AA | accounts | Accounts with accounts type full | |
| 2024-06-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-01 | AA | accounts | Accounts with accounts type full | |
| 2023-07-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-06-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-08 | TM01 | officers | Termination director company with name termination date | |
| 2022-09-08 | AP01 | officers | Appoint person director company with name date | |
| 2022-07-14 | AA | accounts | Accounts with accounts type full | |
| 2022-05-11 | AP01 | officers | Appoint person director company with name date | |
| 2022-05-11 | TM01 | officers | Termination director company with name termination date | |
| 2022-05-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-05-09 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2021-12-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-08-18 | AA | accounts | Accounts with accounts type full | |
| 2021-05-21 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.