Magellan World Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06821703 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

MAGELLAN WORLD LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTOR:

L Robinson

REGISTERED OFFICE:

337 Bath Road

Slough

Berkshire

SL1 5PR

REGISTERED NUMBER:

06821703 (England and Wales)

ACCOUNTANTS:

Masons

337 Bath Road

Slough

Berkshire

SL1 5PR

FIXED ASSETS

Tangible assets

2

8,949

11,070

CURRENT ASSETS

Stocks

38,189

47,760

Debtors

38,834

65,929

Cash at bank

49,213

17,180

126,236

130,869

CREDITORS

Amounts falling due within one year

116,703

139,445

NET CURRENT ASSETS/(LIABILITIES)

9,533

(8,576

)

TOTAL ASSETS LESS CURRENT LIABILITIES

18,482

2,494

CREDITORS

Amounts falling due after more than one year

12,000

25,000

NET ASSETS/(LIABILITIES)

6,482

(22,506

)

CAPITAL AND RESERVES

Called up share capital

3

300

300

Capital redemption reserve

6,016

6,016

Profit and loss account

166

(28,822

)

SHAREHOLDERS' FUNDS

6,482

(22,506

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 9 July 2015 and were signed by:

L Robinson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

51,760

Additions

861

At 31 March 2015

52,621

DEPRECIATION

At 1 April 2014

40,690

Charge for year

2,982

At 31 March 2015

43,672

NET BOOK VALUE

At 31 March 2015

8,949

At 31 March 2014

11,070

3.	CALLED UP SHARE CAPITAL

Number:

Class:

Nominal

31.3.12

31.3.11

value:

£

£

100

Ordinary

£1

100

100

100

"B" Ordinary

£1

100

100

100

"C" Ordinary

£1

100

100

300

300

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Magellan World Ltd for the year ended 31 March 2015 which comprise

the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the director of Magellan World Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Magellan World Ltd and state those matters that we have agreed to state to the director of Magellan World Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Magellan World Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Magellan World Ltd. You consider that Magellan World Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Magellan World

Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or

information and explanations you have given to us and we do not, therefore, express any opinion on the

statutory financial statements.

Masons

337 Bath Road

Slough

Berkshire

SL1 5PR

9 July 2015