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Registered Number: 14893766
England and Wales

 

 

 

MANDIA VENTURES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 25 May 2023

End date: 31 May 2024
Director Bolaji Kafayat AJIBOLA
Registered Number 14893766
Registered Office 7 Kinmount Walk
Manchester
Accountants SRT Accounting Services Ltd
83 Heathbank Road
Higher Blackley
Manchester
M9 0WB
Bankers Barclays Bank Pcl



1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 May 2024.
Principal activities
Principal activity of the company during the financial period was of Property acquisition and rentals
Director
The director who served the company throughout the period was as follows:
Bolaji Kafayat AJIBOLA
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Bolaji Kafayat AJIBOLA
Director

Date approved: 23 February 2025
2
Report to the directors on the preparation of the unaudited statutory accounts of Mandia Ventures Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mandia Ventures Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Mandia Ventures Limited, as a body, in accordance with the terms of our engagement letter dated 23 February 2025 Our work has been undertaken solely to prepare for your approval the accounts of Mandia Ventures Limited and state those matters that we have agreed to state to the Board of Directors of Mandia Ventures Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mandia Ventures Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Mandia Ventures Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mandia Ventures Limited. You consider that Mandia Ventures Limited 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 accounts of Mandia Ventures Limited. 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 accounts
31 May 2024



....................................................

SRT Accounting Services Ltd

83 Heathbank Road
Higher Blackley
Manchester
M9 0WB
23 February 2025
3
 
 
Notes
 
2024
£
Turnover 3,000 
Cost of sales (326)
Gross profit 2,674 
Administrative expenses (4,349)
Operating loss (1,675)
Profit/(Loss) on ordinary activities before taxation (1,675)
Tax on profit on ordinary activities
Profit/(Loss) for the financial period (1,675)
 
4
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 130,562 
130,562 
Current assets    
Cash at bank and in hand 3,642 
Net current assets 3,642 
 
Total assets less current liabilities 134,204 
Creditors: amount falling due after more than one year 4 (135,879)
Net assets (1,675)
 

Capital and reserves
   
Profit and loss account (1,675)
Shareholders' funds (1,675)
 


For the period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 23 February 2025 and were signed by:


-------------------------------
Bolaji Kafayat AJIBOLA
Director
5
  Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £
At 25 May 2023
Profit for the period (1,675) (1,675)
Total comprehensive income for the period (1,675) (1,675)
Total investments by and distributions to owners
At 31 May 2024 (1,675) (1,675)
6
General Information
Mandia Ventures Limited is a private company, limited by shares, registered in England and Wales, registration number 14893766, registration address 7 Kinmount Walk, Manchester.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the period was 1.
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 25 May 2023  
Additions 130,562    130,562 
Disposals  
At 31 May 2024 130,562    130,562 
Depreciation
At 25 May 2023  
Charge for period  
On disposals  
At 31 May 2024  
Net book values
Closing balance as at 31 May 2024 130,562    130,562 
Opening balance as at 25 May 2023  


4.

Creditors: amount falling due after more than one year

2024
£
Directors' Loan Accounts 135,879 
135,879 

5.

Share Capital

Allotted, called up and fully paid
2024
£
1 Class A share of £1.00 each

7