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Registered number: 06370058
Mangetout (UK) Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Newmans Accounting Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06370058
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 248,449 244,913
248,449 244,913
CURRENT ASSETS
Stocks 6 6,000 6,000
Debtors 7 12,152 10,337
Cash at bank and in hand 117,871 84,942
136,023 101,279
Creditors: Amounts Falling Due Within One Year 8 (181,156 ) (161,970 )
NET CURRENT ASSETS (LIABILITIES) (45,133 ) (60,691 )
TOTAL ASSETS LESS CURRENT LIABILITIES 203,316 184,222
Creditors: Amounts Falling Due After More Than One Year 9 (149,455 ) (155,829 )
NET ASSETS 53,861 28,393
CAPITAL AND RESERVES
Called up share capital 11 35 35
Profit and Loss Account 53,826 28,358
SHAREHOLDERS' FUNDS 53,861 28,393
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Christopher Povey
Director
29/09/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mangetout (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06370058 . The registered office is 84 Fore Street, Kingsbridge, Devon, TQ7 1PP.
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. 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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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% Reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 33% Straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. 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.
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2.6. 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 20,000
As at 31 December 2024 20,000
Amortisation
As at 1 January 2024 20,000
As at 31 December 2024 20,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 265,809 68,139 14,916 678 349,542
Additions - 6,029 - - 6,029
As at 31 December 2024 265,809 74,168 14,916 678 355,571
...CONTINUED
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Depreciation
As at 1 January 2024 26,653 64,959 12,791 226 104,629
Provided during the period - 1,842 425 226 2,493
As at 31 December 2024 26,653 66,801 13,216 452 107,122
Net Book Value
As at 31 December 2024 239,156 7,367 1,700 226 248,449
As at 1 January 2024 239,156 3,180 2,125 452 244,913
6. Stocks
31 December 2024 31 December 2023
£ £
Stock 6,000 6,000
7. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors - 960
Prepayments and accrued income 7,318 3,163
Directors' loan accounts 4,834 6,214
12,152 10,337
8. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,188 -
Trade creditors 105,630 61,910
Bank loans and overdrafts 30,093 60,570
Corporation tax 14,484 6,105
Other taxes and social security 6,811 8,643
VAT 14,307 11,765
Accruals and deferred income 6,643 12,977
181,156 161,970
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
£ £
Bank loans 149,455 155,829
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10. Obligations Under Finance Leases and Hire Purchase
31 December 2024 31 December 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,188 -
11. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 35 35
12. Dividends
31 December 2024 31 December 2023
£ £
On equity shares:
Final dividend paid 32,642 57,995
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