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Registered number: 10830616
Blue Mango Enterprises Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 10830616
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 77,085 81,999
Tangible Assets 5 6,328 8,437
83,413 90,436
CURRENT ASSETS
Stocks 6 5,648 16,051
Debtors 7 23,898 1,637
Cash at bank and in hand 24,780 169,131
54,326 186,819
Creditors: Amounts Falling Due Within One Year 8 (370,307 ) (186,263 )
NET CURRENT ASSETS (LIABILITIES) (315,981 ) 556
TOTAL ASSETS LESS CURRENT LIABILITIES (232,568 ) 90,992
Creditors: Amounts Falling Due After More Than One Year 9 (236,723 ) (386,684 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (1,202 ) (1,603 )
NET LIABILITIES (470,493 ) (297,295 )
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account (470,593 ) (297,395 )
SHAREHOLDERS' FUNDS (470,493) (297,295)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ejiroghene Udu
Director
19 February 2025
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 July 2022 100 (142,086 ) (141,986)
Loss for the year and total comprehensive income - (155,309 ) (155,309)
As at 30 June 2023 and 1 July 2023 100 (297,395 ) (297,295)
Loss for the year and total comprehensive income - (173,198 ) (173,198)
As at 30 June 2024 100 (470,593 ) (470,493)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Blue Mango Enterprises Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10830616 . The registered office is Canada House, First Floor, 20/20 Business Park, Maidstone, Kent, ME16 0LS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis as the Director has pledged to continue to financially support the company.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are patents and licences It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 25% on cost
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 4
Page 5
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 34)
29 34
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 98,284
As at 30 June 2024 98,284
Amortisation
As at 1 July 2023 16,285
Provided during the period 4,914
As at 30 June 2024 21,199
Net Book Value
As at 30 June 2024 77,085
As at 1 July 2023 81,999
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 136,725 4,207 3,513 144,445
As at 30 June 2024 136,725 4,207 3,513 144,445
Depreciation
As at 1 July 2023 128,288 4,207 3,513 136,008
Provided during the period 2,109 - - 2,109
As at 30 June 2024 130,397 4,207 3,513 138,117
Net Book Value
As at 30 June 2024 6,328 - - 6,328
As at 1 July 2023 8,437 - - 8,437
Page 5
Page 6
6. Stocks
2024 2023
£ £
Materials 5,648 16,051
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 5,926 1,637
Other debtors 17,972 -
23,898 1,637
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 75,664 74,107
Bank loans and overdrafts 6,728 24,842
Other taxes and social security 53,198 22,079
VAT 143,974 64,349
Pension liability 743 886
Accruals and deferred income 90,000 -
370,307 186,263
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
D Smith's Loan 80,700 80,700
Directors loan account 156,023 305,984
236,723 386,684
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,202 1,603
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6
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12. Directors Advances, Credits and Guarantees
Included within creditors are the following loans from directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Ejiroghene Udu 305,984 190,449 40,488 - 156,023
The above loan is unsecured, interest free, repayable on demand and ranks equally with other creditors.
13. Ultimate Controlling Party
The company's ultimate controlling party is E Udu by virtue of his ownership of 100% of the issued share capital in the company.
Page 7