Abbreviated Company Accounts - MAGELLAN INVESTMENTS LIMITED

MAGELLAN INVESTMENTS LIMITED - Company Information

Registered Number 07068150

MAGELLAN INVESTMENTS LIMITED

Abbreviated Accounts

30 November 2013

MAGELLAN INVESTMENTS LIMITED Registered Number 07068150

Abbreviated Balance Sheet as at 30 November 2013

	Notes	2013	2012
		£	£
Called up share capital not paid		50,000	50,000
Fixed assets
Investments	2	2,401,099	1,905,987
		2,401,099	1,905,987
Current assets
Debtors		593,855	445,211
Cash at bank and in hand		35,280	70,930
		629,135	516,141
Creditors: amounts falling due within one year		(2,887,453)	(2,439,741)
Net current assets (liabilities)		(2,258,318)	(1,923,600)
Total assets less current liabilities		192,781	32,387
Total net assets (liabilities)		192,781	32,387
Capital and reserves
Called up share capital		50,000	50,000
Profit and loss account		142,781	(17,613)
Shareholders' funds		192,781	32,387

For the year ending 30 November 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 9 October 2014

And signed on their behalf by:
Ramalingum Modely Rungen, Director

MAGELLAN INVESTMENTS LIMITED Registered Number 07068150

Notes to the Abbreviated Accounts for the period ended 30 November 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Other accounting policies
Related Party Transaction
The company owns 49.50% (2012: 43.75%) of the shares in Canditifrucht SpA, a company registered in Italy. The company advanced Canditifrucht SpA during the year and as at year end a balance of £286,421 (2012: £391,596) was owed to the company. This balance is repayable in accordance with the terms of the loan agreement.

2Fixed assets Investments
Othe Fixed asset investments unlisted
investments Total
£ £
Cost
At 1 December 2012 1,905,987 1,905,987
Additions 495,112 495,112
_______ _______
At 30 November 2013 2,401,099 2,401,099
_______ _______
Net book values
At 30 November 2013 2,401,099 2,401,099
_______ _______
At 30 November 2012 1,905,987 1,905,987
_______ _______