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Company Registration No. 06821703 (England and Wales)
MAGELLAN WORLD LTD Unaudited accounts for the year ended 31 March 2024
MAGELLAN WORLD LTD Unaudited accounts Contents
Page
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MAGELLAN WORLD LTD Company Information for the year ended 31 March 2024
Director
Lee Robinson
Company Number
06821703 (England and Wales)
Registered Office
CENTRUM HOUSE 36 STATION ROAD EGHAM TW20 9LF ENGLAND
Accountants
Tanners Tax Accountants Steward House 14 Commercial Way Woking Surrey GU21 6ET
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MAGELLAN WORLD LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,230 
9,394 
Current assets
Inventories
49,446 
93,187 
Debtors
63,815 
57,111 
Cash at bank and in hand
113,300 
328,269 
226,561 
478,567 
Creditors: amounts falling due within one year
(186,918)
(428,228)
Net current assets
39,643 
50,339 
Total assets less current liabilities
46,873 
59,733 
Creditors: amounts falling due after more than one year
(30,950)
(36,506)
Net assets
15,923 
23,227 
Capital and reserves
Called up share capital
300 
300 
Capital redemption reserve
6,016 
6,016 
Profit and loss account
9,607 
16,911 
Shareholders' funds
15,923 
23,227 
For the year ending 31 March 2024 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 November 2024 and were signed on its behalf by
Lee Robinson Director Company Registration No. 06821703
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MAGELLAN WORLD LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
MAGELLAN WORLD LTD is a private company, limited by shares, registered in England and Wales, registration number 06821703. The registered office is CENTRUM HOUSE, 36 STATION ROAD, EGHAM, TW20 9LF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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MAGELLAN WORLD LTD Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2023
37,532 
Additions
239 
At 31 March 2024
37,771 
Depreciation
At 1 April 2023
28,138 
Charge for the year
2,403 
At 31 March 2024
30,541 
Net book value
At 31 March 2024
7,230 
At 31 March 2023
9,394 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,659 
46,161 
Accrued income and prepayments
- 
432 
Other debtors
53,156 
10,518 
63,815 
57,111 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,573 
6,573 
VAT
16,283 
13,365 
Trade creditors
53,180 
79,873 
Taxes and social security
7,276 
2,124 
Other creditors
5,609 
16,400 
Accruals
97,997 
309,893 
186,918 
428,228 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
30,950 
36,506 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
300 Ordinary shares of £1 each
300 
300 
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MAGELLAN WORLD LTD Notes to the Accounts for the year ended 31 March 2024
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Lee Robinson
Directors loan account
10,531 
61,566 
18,941 
53,156 
10,531 
61,566 
18,941 
53,156 
10
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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