REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
MANGROVE DEVELOPMENTS LTD |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 | ( |
) | ( |
) |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
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 |
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 |
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 |
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 | ( |
) | ( |
) |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Directors' current accounts | - | 100,349 |
VAT |
Prepayments and accrued income |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax | ( |
) |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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. |
Chartered Accountants |
11 Warwick Road |
Old Trafford |
Stretford |
Manchester |
M16 0QQ |
Date: ............................................. |