Accounts Submission
Accounts Submission
MAGMA DESIGN LTD
Company Registration Number:
03991841
(England and Wales)
Unaudited statutory accounts for the year ended 31 March 2019
Period of accounts
Start date: 01 April 2018
End date: 31 March 2019
MAGMA DESIGN LTD
Contents of the Financial Statements
for the Period Ended 31 March 2019
| Company Information - 3 | |
| Report of the Directors - 4 | |
| Profit and Loss Account - 5 | |
| Balance sheet - 6 | |
| Additional notes - 8 | |
| Balance sheet notes - 10 |
MAGMA DESIGN LTD
Company Information
for the Period Ended 31 March 2019
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MAGMA DESIGN LTD
Directors' Report Period Ended 31 March 2019
The directors present their report with the financial statements of the company for the period ended 31 March 2019
Principal Activities
Additional information
The trading profit for the financial year amounted to £1,426. It is recommended that this amount be set against losses brought forward. The directors are pleased to report that the company has made a small profit, for what has been a troubled year in the retail market sector for many businesses. The company continues to design and market its own products for the wholesale and retail market which is helping its recovery.
Directors
The directors shown below have held office during the whole of the period from 01 April 2018 to 31 March 2019
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
Name:
Status: Director
MAGMA DESIGN LTD
Profit and Loss Account
for the Period Ended 31 March 2019
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2019 £ |
2018 £ |
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| Turnover |
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| Cost of sales |
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| Gross Profit or (Loss) |
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| Distribution Costs |
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| Administrative Expenses |
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| Operating Profit or (Loss) |
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| Interest Payable and Similar Charges |
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| Profit or (Loss) Before Tax |
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| Profit or (Loss) for Period |
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The notes form part of these financial statements
MAGMA DESIGN LTD
Balance sheet
As at
Notes |
2019 £ |
2018 £ |
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| Fixed assets | |||
| Tangible assets: | 3 |
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| Total fixed assets: |
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| Current assets | |||
| Stocks: |
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| Debtors: | 4 |
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| Cash at bank and in hand: |
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| Total current assets: |
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| Creditors: amounts falling due within one year: | 5 |
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| Net current assets (liabilities): |
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| Total assets less current liabilities: |
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| Creditors: amounts falling due after more than one year: | 6 |
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| Total net assets (liabilities): |
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The notes form part of these financial statements
MAGMA DESIGN LTD
Balance sheet continued
As at 31 March 2019
Notes |
2019 £ |
2018 £ |
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| Capital and reserves | |||
| Called up share capital: |
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| Profit and loss account: |
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| Shareholders funds: |
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This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
Name:
Status: Director
The notes form part of these financial statements
MAGMA DESIGN LTD
Notes to the Financial Statements
for the Period Ended 31 March 2019
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1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Turnover policy
Turnover represents income from the sale of books and related products. Tangible fixed assets depreciation policy
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset, less estimated residual value, over its expected useful life, as follows:Fixtures and fittings - 25% per annum on straight line basis. Valuation information and policy
Stock is valued at the lower of cost or net realisable value. Other accounting policies
Going Concern - The directors are pleased to report that the company has returned to profitability as a direct result of reducing operating expenses and continues to remain profitable. For the reasons stated above, the directors are of the opinion that it is appropriate to prepare the company's accounts on a going concern.
MAGMA DESIGN LTD
Notes to the Financial Statements
for the Period Ended 31 March 2019
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2. Employees
2019
2018Average number of employees during the period 10 12
MAGMA DESIGN LTD
Notes to the Financial Statements
for the Period Ended 31 March 2019
3. Tangible assets
| Fixtures & fittings | Total | |
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| Cost | £ | £ |
| At 01 April 2018 |
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| Additions | - | - |
| Disposals | - | - |
| Revaluations | - | - |
| Transfers | - | - |
| At 31 March 2019 |
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| Depreciation | ||
| At 01 April 2018 |
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| Charge for year |
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| On disposals | - | - |
| Other adjustments | - | - |
| At 31 March 2019 |
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| Net book value | ||
| At 31 March 2019 |
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| At 31 March 2018 |
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MAGMA DESIGN LTD
Notes to the Financial Statements
for the Period Ended 31 March 2019
4. Debtors
2019 £ |
2018 £ |
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| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Total |
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MAGMA DESIGN LTD
Notes to the Financial Statements
for the Period Ended 31 March 2019
5.Creditors: amounts falling due within one year note
2019 £ |
2018 £ |
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| Bank loans and overdrafts |
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| Trade creditors |
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| Taxation and social security |
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| Accruals and deferred income |
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| Total |
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MAGMA DESIGN LTD
Notes to the Financial Statements
for the Period Ended 31 March 2019
6.Creditors: amounts falling due after more than one year
2019 £ |
2018 £ |
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| Other creditors |
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| Total |
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