Registered number
04000369
Funky Mango Limited
Report and Accounts
31 October 2023
Funky Mango Limited
Registered number: 04000369
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 137,228 162,166
Current assets
Stocks 124,554 89,103
Debtors 4 114,665 170,563
Cash at bank and in hand - 50
239,219 259,716
Creditors: amounts falling due within one year 5 (259,143) (218,790)
Net current (liabilities)/assets (19,924) 40,926
Total assets less current liabilities 117,304 203,092
Creditors: amounts falling due after more than one year 6 (111,113) (172,709)
Net assets 6,191 30,383
Capital and reserves
Called up share capital 1 1
Profit and loss account 6,190 30,382
Shareholder's funds 6,191 30,383
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs S Davison-Lungley
Director
Approved by the board on 27/01/2025
Funky Mango Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% WDV
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 37,215 347,627 384,842
Additions - 8,400 8,400
At 31 October 2023 37,215 356,027 393,242
Depreciation
At 1 November 2022 - 222,676 222,676
Charge for the year - 33,338 33,338
At 31 October 2023 - 256,014 256,014
Net book value
At 31 October 2023 37,215 100,013 137,228
At 31 October 2022 37,215 124,951 162,166
4 Debtors 2023 2022
£ £
Trade and other debtors 114,665 170,563
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,218 6,917
Trade creditors 77,059 39,651
Corporation tax 108,040 117,143
Other taxes and social security costs 72,826 55,079
259,143 218,790
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 111,113 172,709
7 Other information
Funky Mango Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 The Royal Arcade
28 Old Bond Street
London
W1S 4SF
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