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Registration number: 02760593

J & M Mangan Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

J & M Mangan Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

J & M Mangan Limited

(Registration number: 02760593)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,648,740

1,656,795

Current assets

 

Debtors

6

150,544

280,907

Cash at bank and in hand

 

1,533,536

1,460,530

 

1,684,080

1,741,437

Creditors: Amounts falling due within one year

7

(211,859)

(172,082)

Net current assets

 

1,472,221

1,569,355

Total assets less current liabilities

 

3,120,961

3,226,150

Provisions for liabilities

(7,467)

(1,160)

Net assets

 

3,113,494

3,224,990

Capital and reserves

 

Called up share capital

4

4

Retained earnings

3,113,490

3,224,986

Shareholders' funds

 

3,113,494

3,224,990

 

J & M Mangan Limited

(Registration number: 02760593)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

.........................................
JP Mangan
Company secretary and director

 

J & M Mangan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income as a holding company. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

J & M Mangan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% per annum of net book value

Fixtures and fittings

25% per annum of net book value

Leasehold property improvements

10% per annum of net book value

Motor vehicles

25% per annum of net book value

Land and buildings

0 to 10% per annum of net book value

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Taxation

2024

2023

£

£

Corporation tax

5,200

5,428

Deferred tax

6,307

(1,907)

11,507

3,521

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 5).

 

J & M Mangan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Tangible assets

Leasehold improvements
£

Land and buildings
 £

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

120,766

1,662,236

16,811

7,258

16,300

1,823,371

Additions

-

-

-

1,973

33,780

35,753

Disposals

-

-

-

-

(13,300)

(13,300)

At 31 October 2024

120,766

1,662,236

16,811

9,231

36,780

1,845,824

Depreciation

At 1 November 2023

100,727

33,982

16,727

2,055

13,085

166,576

Charge for the year

2,004

30,584

21

972

7,781

41,362

Eliminated on disposal

-

-

-

-

(10,854)

(10,854)

At 31 October 2024

102,731

64,566

16,748

3,027

10,012

197,084

Carrying amount

At 31 October 2024

18,035

1,597,670

63

6,204

26,768

1,648,740

At 31 October 2023

20,039

1,628,254

84

5,203

3,215

1,656,795

 

J & M Mangan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,805

1,393

Prepayments

100

85

Other debtors

148,639

279,429

 

150,544

280,907

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,566

865

Taxation and social security

9,117

9,034

Other creditors

200,176

162,183

211,859

172,082