Mangata CIS Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12434013

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,768		3,691

			2,768		3,691
CURRENT ASSETS
Debtors	5	140,445		81,507
Cash at bank and in hand		13,902		40,733

		154,347		122,240
Creditors: Amounts Falling Due Within One Year	6	(168,215 )		(136,872 )

NET CURRENT ASSETS (LIABILITIES)			(13,868 )		(14,632 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(11,100 )		(10,941 )

Creditors: Amounts Falling Due After More Than One Year	7		(25,753 )		(31,371 )

NET LIABILITIES			(36,853 )		(42,312 )

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			(36,854 )		(42,313 )

SHAREHOLDERS' FUNDS			(36,853)		(42,312)

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Mangata CIS Ltd

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 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 Kenny Gray

Director

14/02/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Mangata CIS Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12434013 . The registered office is Sumatra House, 215 West End Lane, West Hampstead, London, NW6 1XJ.

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.

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	25% reducing balance basis
Motor Vehicles	25% reducing balance basis
Computer Equipment	33% straight line basis

2.4. 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.

...CONTINUED

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Mangata CIS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.4. Taxation - continued

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: 1 (2024: 1)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 February 2024	5,000	5,000	475	10,475

As at 31 January 2025	5,000	5,000	475	10,475

Depreciation
As at 1 February 2024	3,418	2,891	475	6,784
Provided during the period	396	527	-	923

As at 31 January 2025	3,814	3,418	475	7,707

Net Book Value
As at 31 January 2025	1,186	1,582	-	2,768

As at 1 February 2024	1,582	2,109	-	3,691

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	108,945	49,853
Other debtors	30,000	30,000
Deferred tax current asset	1,500	1,654

	140,445	81,507

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Mangata CIS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	162	-
Bank loans and overdrafts	10,000	10,000
Other taxes and social security	5,209	14,306
VAT	26,991	45,652
Accruals and deferred income	1,000	1,000
Directors' loan accounts	38,428	30,604
Amounts owed to group undertakings	86,425	35,310

	168,215	136,872

The company had a bounce back loan which was taken under the government Covid 19 scheme. The loan was unsecured.

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	25,753	31,371

The company has a bounce back loan which was taken under the government Covid 19 scheme. This was unsecured.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

9. Related Party Transactions

Mr K Gray was sole director and shareholder of the company.

Mr K Gray was a sole director and shareholder of the following companies:

Mangata GM Ltd - 100% shareholder

Mangata CIS Ltd owed Mangata GM Ltd £51,915 (2024: £800) as a loan at the financial year end.

Mangata Pay UK Ltd - 100% shareholder

Mangata CIS Ltd owed Mangata Pay UK Ltd £2,000 (2024: £2,000)as a loan at the financial year end.

Mangata Developments Ltd - 50% shareholder

The company made services to Mangata Developments Ltd of £319,165 (2024: £76,780) during the financial year.

Mangata CIS ltd owed Mangata Developments Ltd £32,510 (2024: £32,510) as a loan at the financial year end.

Mangata Developments Ltd owed Mangata CIS Ltd £103,328 (2024: £ 46,756) as a trade debtor at the financial year end.

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