IRIS Accounts Production v24.3.0.553 09211728 Board of Directors Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh092117282023-09-30092117282024-09-30092117282023-10-012024-09-30092117282022-09-30092117282022-10-012023-09-30092117282023-09-3009211728ns15:EnglandWales2023-10-012024-09-3009211728ns14:PoundSterling2023-10-012024-09-3009211728ns10:Director12023-10-012024-09-3009211728ns10:Director22023-10-012024-09-3009211728ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3009211728ns10:SmallEntities2023-10-012024-09-3009211728ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3009211728ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3009211728ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3009211728ns10:FullAccounts2023-10-012024-09-3009211728ns10:OrdinaryShareClass12023-10-012024-09-3009211728ns10:CompanySecretary12023-10-012024-09-3009211728ns10:RegisteredOffice2023-10-012024-09-3009211728ns5:CurrentFinancialInstruments2024-09-3009211728ns5:CurrentFinancialInstruments2023-09-3009211728ns5:Non-currentFinancialInstruments2024-09-3009211728ns5:Non-currentFinancialInstruments2023-09-3009211728ns5:ShareCapital2024-09-3009211728ns5:ShareCapital2023-09-3009211728ns5:FurtherSpecificReserve3ComponentTotalEquity2024-09-3009211728ns5:FurtherSpecificReserve3ComponentTotalEquity2023-09-3009211728ns5:RetainedEarningsAccumulatedLosses2024-09-3009211728ns5:RetainedEarningsAccumulatedLosses2023-09-3009211728ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3009211728ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3009211728ns5:Secured2024-09-3009211728ns5:Secured2023-09-3009211728ns10:OrdinaryShareClass12024-09-3009211728ns5:FurtherSpecificReserve3ComponentTotalEquity2023-09-30
REGISTERED NUMBER: 09211728 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

MANGO SOURCE LTD

MANGO SOURCE LTD (REGISTERED NUMBER: 09211728)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MANGO SOURCE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: Mr M C Pye
Mr P G Angelosanto





SECRETARY: Mr P G Angelosanto





REGISTERED OFFICE: Worthy Barn
Springvale Road
Headborne Worthy
Winchester
Hampshire
SO23 7LD





BUSINESS ADDRESS: 3 Gillingham Close
Kings Worthy
Winchester
Hampshire
SO23 7RL





REGISTERED NUMBER: 09211728 (England and Wales)






MANGO SOURCE LTD (REGISTERED NUMBER: 09211728)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 275,000 275,000

CURRENT ASSETS
Debtors 6 - 500
Cash at bank 6,975 15,805
6,975 16,305
CREDITORS
Amounts falling due within one year 7 40,355 39,113
NET CURRENT LIABILITIES (33,380 ) (22,808 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,620

252,192

CREDITORS
Amounts falling due after more than one
year

8

(193,601

)

(205,601

)

PROVISIONS FOR LIABILITIES (6,482 ) (6,204 )
NET ASSETS 41,537 40,387

CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 44,696 44,696
Retained earnings (3,161 ) (4,311 )
SHAREHOLDERS' FUNDS 41,537 40,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 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.

MANGO SOURCE LTD (REGISTERED NUMBER: 09211728)

BALANCE SHEET - continued
30TH SEPTEMBER 2024


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 26th November 2024 and were signed on its behalf by:




Mr P G Angelosanto - Director



Mr M C Pye - Director


MANGO SOURCE LTD (REGISTERED NUMBER: 09211728)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

Mango Source 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 (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors have made loans to the company that are repayable on demand. The directors will not demand repayment if it would be financially detrimental to the ongoing trade of the company. Due to this ongoing support, the directors believe that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

Turnover
Turnover is measured at the fair value of rental income received or receivable excluding value added tax.

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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

MANGO SOURCE LTD (REGISTERED NUMBER: 09211728)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


3. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023
and 30th September 2024 275,000
NET BOOK VALUE
At 30th September 2024 275,000
At 30th September 2023 275,000

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2018 49,569
Cost 225,431
275,000

The investment property was revalued during the year ended 30th September 2018.

The directors believe this still to be a fair value of the property as at 30th September 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 40,355 39,113

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 193,601 205,601

MANGO SOURCE LTD (REGISTERED NUMBER: 09211728)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 193,601 205,601

The loan is secured over the Investment Property held by the Company.

The mortgage is guaranteed by the Directors of the Company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Fair
value
reserve
£   
At 1st October 2023
and 30th September 2024 44,696