This report reviews the progress made in the field of magnetism from a chemistry-centred point-of-view. It begins with an introduction to the property of frustration, where different terms compete within the magnetic Hamiltonian. Simply engineered by bonding topology, frustration provides a mechanism with which to tune the electronic ground and excited states of a molecule. Whilst its effects have been most studied by physicists in extended solids, as it underlies exotic electronic properties such as superconductivity and spin glass behaviour, frustration has also become a key tool with which to control the properties of molecular magnets. Following on from this, some highlights from different aspects of molecular magnets are presented.