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REGISTERED NUMBER: 02993282 (England and Wales)


















Financial Statements for the Year Ended 29 February 2024

for

LA MANGA BY DESIGN LIMITED

LA MANGA BY DESIGN LIMITED (REGISTERED NUMBER: 02993282)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LA MANGA BY DESIGN LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTOR: J H Barr





SECRETARY: J H Barr





REGISTERED OFFICE: Global House
1 Ashley Avenue
Epsom
Surrey
KT18 5AD





REGISTERED NUMBER: 02993282 (England and Wales)





ACCOUNTANTS: BDA Associates Limited
Chartered Accountants
Global House
1 Ashley Avenue
Epsom
Surrey
KT18 5AD

LA MANGA BY DESIGN LIMITED (REGISTERED NUMBER: 02993282)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,055 1,467

CURRENT ASSETS
Debtors 5 87,917 65,268
Cash at bank 7,090 32,133
95,007 97,401
CREDITORS
Amounts falling due within one year 6 282,680 308,823
NET CURRENT LIABILITIES (187,673 ) (211,422 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(186,618

)

(209,955

)

CREDITORS
Amounts falling due after more than one
year

7

101,711

28,851
NET LIABILITIES (288,329 ) (238,806 )

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings (318,329 ) (268,806 )
SHAREHOLDERS' FUNDS (288,329 ) (238,806 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LA MANGA BY DESIGN LIMITED (REGISTERED NUMBER: 02993282)

Balance Sheet - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 April 2025 and were signed by:





J H Barr - Director


LA MANGA BY DESIGN LIMITED (REGISTERED NUMBER: 02993282)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

La Manga By Design 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
The accounts have been prepared on a going concern basis, despite the fact that liabilities exceed assets at the balance sheet date.

The covid pandemic and the associated lockdowns and travel restrictions had a significant impact on the business, from which it is still recovering. As discussed in the Directors Report, the directors have decided to move away from the current business model to concentrate on its more profitable elements of the business and further funding has been secured to support this. On this basis, the directors are confident that the company will return to a positive position within the balance sheet and that the going concern basis is still appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

LA MANGA BY DESIGN LIMITED (REGISTERED NUMBER: 02993282)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 23,356 30,381 53,737
Disposals (11,678 ) (15,191 ) (26,869 )
At 29 February 2024 11,678 15,190 26,868
DEPRECIATION
At 1 March 2023 22,447 29,823 52,270
Charge for year 227 184 411
Eliminated on disposal (11,678 ) (15,190 ) (26,868 )
At 29 February 2024 10,996 14,817 25,813
NET BOOK VALUE
At 29 February 2024 682 373 1,055
At 28 February 2023 909 558 1,467

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 87,917 65,268

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 9,334
Trade creditors 47,398 71,786
Taxation and social security 2,627 1,555
Other creditors 222,655 226,148
282,680 308,823

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 19,019 28,851
Other creditors 82,692 -
101,711 28,851

Included in bank loans is a government backed bounceback loan with an interest rate of 2.5% per annum.