Magnet Limited

Reference number: 674360

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Authorised, but in a compromise arrangement

This firm has a formal arrangement with its creditors, which can limit what customers are able to recover from it. Check how it affects you before acting.

What the FCA says

ATTENTION - Firm in a compromise arrangement

This firm has entered into a statutory compromise arrangement with its creditors and/or shareholders. This means it has entered into an arrangement with its creditors and/or shareholders which has altered the rights and obligations of the parties. It has to continue to meet our standards in line with its regulatory status, including when dealing with its customers. Firms enter into a compromise arrangement for various reasons, so if you are a customer check with the firm to determine whether the compromise arrangement affects you.

Identity

Check their details

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

Also trades as
  • Magnet Kitchens

Company details

From the company's Companies House record.

Company number
02762625
Company status
Active
Company type
Private limited company
Incorporated
6 November 1992 (33 years old)
Registered office
C/O Magnet Limited, 3 Allington Way Yarm Road, Business Park Darlington, County Durham, DL1 4XT
Nature of business
  • Other manufacturing not elsewhere classified (SIC 32990)

Current directors and secretaries

Name Role Born Appointed
Gemma Claire Louise Doyle Director Mar 1986 17 Jan 2023
Sophie Louise Rose Director May 1986 10 Dec 2025

Check on the FCA register → Report a scam →

Activities and protection

What they can do, and how you are protected

  • Lend or arrange credit No FSCS cover
    Consumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.
Show FCA detail (1 permission)
  • Credit Broking

Complaints: You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.

Track record

FCA actions and complaints

No FCA disciplinary action, and no complaints recorded with the Ombudsman.

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Common questions

Frequently asked questions

Is Magnet Limited FCA authorised?
Yes, Magnet Limited (FRN 674360) is authorised by the FCA to carry out regulated activities.
Is my money safe with Magnet?
Protection depends on which product you hold and how Magnet handles your money, so check the specific product before you commit. You can also refer complaints about Magnet to the Financial Ombudsman Service, free of charge.
Is Magnet a scam or clone?
Magnet is a genuine FCA-listed firm. However, scammers sometimes clone authorised firms. Always check that the contact details you were given match those on the FCA register before sending money or sharing information.
What is Magnet's Firm Reference Number (FRN)?
Magnet's FRN is 674360. You can verify it on the FCA register.