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REGISTERED NUMBER: 13122454 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

MANGROVE DEVELOPMENTS LTD

MANGROVE DEVELOPMENTS LTD (REGISTERED NUMBER: 13122454)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

MANGROVE DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mr P K F Sparkes





REGISTERED OFFICE: 3 Oak Meadows
Bramhall
Stockport
Cheshire
SK7 1AR





REGISTERED NUMBER: 13122454 (England and Wales)





ACCOUNTANTS: Dunhams
Chartered Accountants
11 Warwick Road
Old Trafford
Stretford
Manchester
M16 0QQ

MANGROVE DEVELOPMENTS LTD (REGISTERED NUMBER: 13122454)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4 (282,198 ) (200,263 )
Debtors 5 602,937 812,199
Cash at bank and in hand 1,028,540 114,554
1,349,279 726,490
CREDITORS
Amounts falling due within one year 6 (772,625 ) (613,370 )
NET CURRENT ASSETS 576,654 113,120
TOTAL ASSETS LESS CURRENT LIABILITIES 576,654 113,120

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 576,554 113,020
576,654 113,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 23 January 2024 and were signed by:





Mr P K F Sparkes - Director


MANGROVE DEVELOPMENTS LTD (REGISTERED NUMBER: 13122454)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Mangrove Developments Ltd 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 (£).


The accounts are presented rounded to the nearest pound.

2. ACCOUNTING POLICIES

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

Significant judgements and estimates
In preparing the accounts the directors are required to make certain judgements and estimates in compliance with FRS102 (Section 1a), those which are significant are explained below.

Work in progress
In calculating the amounts included as work in progress the directors look at all the available information for each site, including the latest applications, and their own knowledge of the projects. This is then used to assess any work completed but not billed within the period to include as work in progress.

No other estimates or judgements are deemed to have a significant impact on the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Work in progress
Long-term work in progress is taken to be that on contracts which exceed one year in duration or whose activity
falls into different accounting periods and they are material to the activity of the period. Where it is considered
that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion, the
prudently calculated attributable profit is recognised in the profit and loss account as the difference between the
recorded turnover and attributable contract costs incurred to date in the accounting period. Where it is
considered that the outcome of a long-term contract cannot be assessed with reasonable certainty before its
conclusion no profit is recognised on such a contract during an accounting period prior to its completion. Where
there are foreseeable losses on a contracts then provision is made for these losses by setting them off against
costs within work in progress and then providing for any excess within creditors. Where contracts are not
long-term in nature revenue is recognised such that the right to consideration has accrued on a part completed
contract.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


MANGROVE DEVELOPMENTS LTD (REGISTERED NUMBER: 13122454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. STOCKS
2023 2022
£    £   
Work-in-progress (282,198 ) (200,263 )

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 399,676 388,114
Directors' current accounts - 100,349
VAT 20,631 22,441
Prepayments and accrued income 181,917 301,295
Prepayments 713 -
602,937 812,199

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 366,927 182,674
Tax 119,427 (3,701 )
Social security and other taxes 880 2,719
Other creditors 210,000 292,843
Accruals and deferred income 75,391 138,835
772,625 613,370

MANGROVE DEVELOPMENTS LTD (REGISTERED NUMBER: 13122454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 June 2023 and the period ended 30 June 2022:

2023 2022
£    £   
Mr P K F Sparkes
Balance outstanding at start of year 110,249 -
Amounts advanced - 110,249
Amounts repaid (110,249 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 110,249

Other creditors is the total amount owing to a company under common control.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MANGROVE DEVELOPMENTS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mangrove Developments Ltd for the year ended 30 June 2023 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Mangrove Developments Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mangrove Developments Ltd and state those matters that we have agreed to state to the director of Mangrove Developments Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mangrove Developments Ltd and its director for our work or for this report.

It is your duty to ensure that Mangrove Developments 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 Mangrove Developments Ltd. You consider that Mangrove Developments 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 Mangrove Developments 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.






Dunhams
Chartered Accountants
11 Warwick Road
Old Trafford
Stretford
Manchester
M16 0QQ


Date: .............................................