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REGISTERED NUMBER: 07060411 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

RED MANGO DEVELOPMENTS LIMITED

RED MANGO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07060411)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RED MANGO DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr Sukhjit Khera
Mrs Sukhjit Kaur





REGISTERED OFFICE: 14 The Square
Alvechurch
Birmingham
West Midlands
B48 7LA





REGISTERED NUMBER: 07060411 (England and Wales)






RED MANGO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07060411)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47 91
Investment property 5 3,195,219 2,750,000
3,195,266 2,750,091

CURRENT ASSETS
Debtors 6 (12,198 ) 15,912
Cash at bank 252 127
(11,946 ) 16,039
CREDITORS
Amounts falling due within one year 7 1,693,056 1,232,513
NET CURRENT LIABILITIES (1,705,002 ) (1,216,474 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,490,264

1,533,617

CREDITORS
Amounts falling due after more than one
year

8

(557,397

)

(410,808

)

PROVISIONS FOR LIABILITIES 9 (212,910 ) (212,910 )
NET ASSETS 719,957 909,899

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 907,667 907,667
Retained earnings (187,712 ) 2,230
SHAREHOLDERS' FUNDS 719,957 909,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

RED MANGO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07060411)

BALANCE SHEET - continued
31 MARCH 2023


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 Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





Mrs Sukhjit Kaur - Director


RED MANGO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07060411)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Red Mango Developments 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.

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 as modified by the revaluation of certain assets.

Turnover
The turnover of the company is attributable to the one principal activity which is of developing for the companies own use and lettings.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

RED MANGO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07060411)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 395
DEPRECIATION
At 1 April 2022 304
Charge for year 44
At 31 March 2023 348
NET BOOK VALUE
At 31 March 2023 47
At 31 March 2022 91

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 2,750,000
Additions 445,219
At 31 March 2023 3,195,219
NET BOOK VALUE
At 31 March 2023 3,195,219
At 31 March 2022 2,750,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 1,120,577
Cost 2,074,642
3,195,219

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
VAT 27,551 7,456
Prepayments and accrued income 18,000 -
45,551 7,456

RED MANGO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07060411)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. DEBTORS - continued
31.3.23 31.3.22
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 62,251 8,456
Prepayments and accrued income (120,000 ) -
(57,749 ) 8,456

Aggregate amounts (12,198 ) 15,912

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 73,974 18,490
Trade creditors 420,685 3,926
Tax 5,385 5,385
Other creditors 1,069,500 1,069,500
Directors' current accounts 122,012 134,012
Accrued expenses 1,500 1,200
1,693,056 1,232,513

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 73,974 6,720
Bank loans - 2-5 years 221,922 20,160
Bank loans more 5 yr by instal 261,501 383,928
557,397 410,808

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 261,501 383,928

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 212,910 212,910

RED MANGO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07060411)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 212,910
Tax movement on revaluation
Balance at 31 March 2023 212,910

10. ULTIMATE CONTROLLING PARTY

G K Investments (UK) Limited is regarded by the directors as being the company's ultimate parent company.