Magenta 1859 Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 07818269 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

MAGENTA 1859 LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

C S Talmadge

P M Hall

SECRETARY:

Mrs L A Talmadge

REGISTERED OFFICE:

10 The Triangle

ng2 Business Park

Nottingham

Nottinghamshire

NG2 1AE

REGISTERED NUMBER:

07818269 (England and Wales)

ACCOUNTANTS:

tcp chartered accountants

10 the triangle

ng2 business park

nottingham

NG2 1AE

FIXED ASSETS

Intangible assets

2

50,250

59,250

Investments

3

100

50,350

59,350

CREDITORS

Amounts falling due within one year

4

40,532

51,420

NET CURRENT LIABILITIES

(40,532

)

(51,420

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,818

7,930

CREDITORS

Amounts falling due after more than one year

4

-

2,673

NET ASSETS

9,818

5,257

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

9,718

5,157

SHAREHOLDERS' FUNDS

9,818

5,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 9 May 2016 and were signed on its behalf by:

P M Hall - Director

C S Talmadge - 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 January 2015).

The effect of events relating to the year ended 31 March 2016 which occurred before the date of approval of the financial

statements by the Board of Directors, have been included to the extent required to show a true and fair view of the state of

affairs at the year end and of the results for the year ended on that date.

Preparation of consolidated financial statements

The financial statements contain information about Magenta 1859 Ltd as an individual company and do not contain

consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the

Companies Act 2006 not to prepare consolidated financial statements.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

90,000

AMORTISATION

At 1 April 2015

30,750

Amortisation for year

9,000

At 31 March 2016

39,750

NET BOOK VALUE

At 31 March 2016

50,250

At 31 March 2015

59,250

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

100

NET BOOK VALUE

At 31 March 2016

100

At 31 March 2015

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Magenta Financial Services Ltd

Nature of business: Insurance intermediary

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

15,034

3,865

Profit for the year

61,169

51,354

4.

CREDITORS

Creditors include an amount of £ 0 (2015 - £ 13,779 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

NIL

Share capital 1

£1

100