Mangrove Property Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 14283319 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2025

for

Mangrove Property Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

6,993

8,656

Investment property

5

584,000

591,000

590,993

599,656

CURRENT ASSETS

Cash at bank

3,355

1,393

CREDITORS

Amounts falling due within one year

6

112,931

114,230

NET CURRENT LIABILITIES

(109,576

)

(112,837

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

481,417

486,819

CREDITORS

Amounts falling due after more than one
year

7

(465,596

)

(465,595

)

PROVISIONS FOR LIABILITIES

9

(1,329

)

(1,645

)

NET ASSETS

14,492

19,579

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

14,392

19,479

SHAREHOLDERS' FUNDS

14,492

19,579

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

Dr K Lucas - Director

Dr M Eyeoyibo - Director

1.	STATUTORY INFORMATION

Mangrove Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

14283319

Registered office:

C/O Echo Tax, SPACES Manchester

Peter House

Oxford Street

Manchester

M1 5AN

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

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

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

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2024

12,072

Additions

80

At 31 August 2025

12,152

DEPRECIATION

At 1 September 2024

3,416

Charge for year

1,743

At 31 August 2025

5,159

NET BOOK VALUE

At 31 August 2025

6,993

At 31 August 2024

8,656

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

591,000

Revaluations

(7,000

)

At 31 August 2025

584,000

NET BOOK VALUE

At 31 August 2025

584,000

At 31 August 2024

591,000

Fair value at 31 August 2025 is represented by:

£

Valuation in 2023

555,817

Valuation in 2024

35,183

Valuation in 2025

(7,000

)

584,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

Bank loans and overdrafts (see note 8)

79

-

Tax

-

2

Rent Advance

5,200

7,200

Directors' current accounts

107,172

106,548

Accrued expenses

480

112,931

114,230

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.8.25

31.8.24

£

Bank loans (see note 8)

378,996

378,995

Other loans (see note 8)

86,600

465,596

465,595

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

378,996

378,995

8.

LOANS

An analysis of the maturity of loans is given below:

31.8.25

31.8.24

£

Amounts falling due within one year or on demand:

Bank overdrafts

79

-

Amounts falling due between two and five years:

Other loans - 2-5 years

86,600

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

378,996

378,995

9.	PROVISIONS FOR LIABILITIES

31.8.25

31.8.24

£

Deferred tax

1,329

1,645

Deferred

tax

£

Balance at 1 September 2024

1,645

Utilised during year

(316

)

Balance at 31 August 2025

1,329

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.25

31.8.24

value:

£

100

Ordinary

1

100

On incorporation 100 Ordinary shares each of £1 were allotted, called up and fully paid at par.

These Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2025 and 31 August 2024:

31.8.25

31.8.24

£

Dr M Eyeoyibo

Balance outstanding at start of year

(57,374

)

(62,062

)

Amounts advanced

-

5,000

Amounts repaid

(312

)

(312

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(57,686

)

(57,374

)

Dr K Lucas

Balance outstanding at start of year

(49,174

)

(53,862

)

Amounts advanced

-

5,000

Amounts repaid

(312

)

(312

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(49,486

)

(49,174

)

12.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors..