Magenta Accounts - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04657124 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

MAGENTA ACCOUNTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K Cousens

SECRETARY:

D C Cousens

REGISTERED OFFICE:

2a Poles Copse

Poles Lane

Otterbourne

Winchester

Hampshire

SO21 2DZ

REGISTERED NUMBER:

04657124 (England and Wales)

ACCOUNTANTS:

Magenta Accounts Limited

2a Poles Copse

Poles Lane

Otterbourne

Winchester

Hampshire

SO21 2DZ

FIXED ASSETS

Tangible assets

4

29,784

553

CURRENT ASSETS

Stocks

300

300

Debtors

5

76,155

63,453

Cash at bank and in hand

7,003

21,509

83,458

85,262

CREDITORS

Amounts falling due within one year

6

53,045

65,409

NET CURRENT ASSETS

30,413

19,853

TOTAL ASSETS LESS CURRENT LIABILITIES

60,197

20,406

CREDITORS

Amounts falling due after more than one year

7

21,092

-

NET ASSETS

39,105

20,406

CAPITAL AND RESERVES

Called up share capital

10

100

82

Capital redemption reserve

11

22

18

Retained earnings

11

38,983

20,306

SHAREHOLDERS' FUNDS

39,105

20,406

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 May 2018 and were signed on its behalf by:

Mrs K Cousens - Director

1.	STATUTORY INFORMATION

Magenta Accounts Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of services, adjusted for accrued income as applicable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

19,357

Additions

32,965

Disposals

(15,200

)

At 31 March 2018

37,122

DEPRECIATION

At 1 April 2017

18,804

Charge for year

3,734

Eliminated on disposal

(15,200

)

At 31 March 2018

7,338

NET BOOK VALUE

At 31 March 2018

29,784

At 31 March 2017

553

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

32,100

At 31 March 2018

32,100

DEPRECIATION

Charge for year

3,345

At 31 March 2018

3,345

NET BOOK VALUE

At 31 March 2018

28,755

5.

DEBTORS

31.3.18

31.3.17

£

£

Amounts falling due within one year:

Trade debtors

38,159

44,637

Prepayments and accrued income

34,996

15,816

73,155

60,453

31.3.18

31.3.17

£

£

Amounts falling due after more than one year:

Other debtors

3,000

3,000

Aggregate amounts

76,155

63,453

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other loans

18,705

-

Hire purchase contracts (see note 8)

4,883

-

Trade creditors

1,059

2,644

Tax

13,535

20,360

Social security and other taxes

2,915

2,641

VAT

6,254

7,834

Other creditors

293

251

Directors' current accounts

344

24,282

Accrued expenses

5,057

7,397

53,045

65,409

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts (see note 8)

21,092

-

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.3.18

31.3.17

£

£

Net obligations repayable:

Within one year

4,883

-

Between one and five years

21,092

-

25,975

-

Non-cancellable operating

leases

31.3.18

31.3.17

£

£

Within one year

12,000

17,624

Between one and five years

43,000

48,000

In more than five years

-

7,000

55,000

72,624

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Hire purchase contracts

25,975

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

90

Ordinary A

1

90

72

10

Ordinary B

1

10

10

100

82

During the year, 4 ordinary shares were re-purchased for the sum of £2,400.

Additionally, 22 bonus ordinary shares were issued on a 1 for 3 basis.

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2017

20,306

18

20,324

Profit for the year

84,981

84,981

Dividends

(63,882

)

(63,882

)

Bonus share issue

(22

)

-

(22

)

Purchase of own shares

(2,400

)

4

(2,396

)

At 31 March 2018

38,983

22

39,005

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £58,382 (2017 - £62,661) were paid to the directors .

Mrs M Jack continued to provide the company with a loan. The amount due to the related party at the year end

was £18,705.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs K Cousens.