Mangata Developments Ltd

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

Registered number: 14594389

		31 January 2025		31 January 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		40,564		53,685

			40,564		53,685
CURRENT ASSETS
Stocks	5	383,207		263,207
Debtors	6	59,630		40,010
Cash at bank and in hand		1		108,317

		442,838		411,534
Creditors: Amounts Falling Due Within One Year	7	(674,938 )		(554,976 )

NET CURRENT ASSETS (LIABILITIES)			(232,100 )		(143,442 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(191,536 )		(89,757 )

NET LIABILITIES			(191,536 )		(89,757 )

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(191,636 )		(89,857 )

SHAREHOLDERS' FUNDS			(191,536)		(89,757)

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Mangata Developments 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 Martin Jackman

Director

14/02/2025

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

1. General Information

Mangata Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14594389 . The registered office is Sumatra House, 215 West End Lane, West Hampstead, 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.

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:

Motor Vehicles	25% reducing balance base
Fixtures & Fittings	20% reducing balance basis

2.4. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

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Mangata Developments Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 February 2024	68,990	2,429	71,419
Disposals	(17,495 )	-	(17,495 )

As at 31 January 2025	51,495	2,429	53,924

Depreciation
As at 1 February 2024	17,248	486	17,734
Disposals	(4,374 )	-	(4,374 )

As at 31 January 2025	12,874	486	13,360

Net Book Value
As at 31 January 2025	38,621	1,943	40,564

As at 1 February 2024	51,742	1,943	53,685

5. Stocks

	31 January 2025	31 January 2024
	£	£
Stock	263,207	263,207
Work in progress	120,000	-

	383,207	263,207

6. Debtors

	31 January 2025	31 January 2024
	£	£
Due within one year
Trade debtors	13,500	-
Other debtors	-	7,500
VAT	13,620	-
Amounts owed by group undertakings	32,510	32,510

	59,630	40,010

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Mangata Developments Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

7. Creditors: Amounts Falling Due Within One Year

	31 January 2025	31 January 2024
	£	£
Trade creditors	142,110	238,207
Bank loans and overdrafts	12,912	-
Other loans	-	51,300
Other taxes and social security	6,982	7,191
VAT	-	3,211
Other creditors	42,809	-
Accruals and deferred income	1,500	1,500
Directors' loan accounts	152,918	153,497
Amounts owed to group undertakings	315,707	100,070

	674,938	554,976

8. Share Capital

	31 January 2025	31 January 2024
	£	£
Allotted, Called up and fully paid	100	100

9. Related Party Transactions

Mr K Gray was a director and equal shareholder of Mangata Developments Ltd.

Mr K Gray was sole director and shareholderr of Mangata Pay UK Ltd. Mangata Developments Ltd owed Mangata Pay UK Ltd at 31 January 2025 £231,637 (2024: £31,450).

Mr K Gray was sole director and shareholder of Mangata GM Ltd. Mangata Developments Ltd owed Mangata GM Ltd at 31 January 2025 £84,070 (2024: £68,920). The company made sales to Mangata GM Ltd of £NIL (2024:£50,000).

Mr K Gray was sole director and shareholder of Mangata CIS Ltd. Mangata Developments Ltd were owed by Mangata CIS Ltd at 31 January 2025 £32,510 (2024: £32,510). The company owed Mangata CIS Ltd £103,328 (2024: £46,756) within trade creditors at the financial year end. The company had other direct costs of £319165 (2024: £76,780) during the financial year.

Mr K Gray was a director and majority shareholder of Radlet Motor Centre Ltd. The company made sales to Radlett Motor Centre Ltd of £10,553 (2024: £NIL). The company had services provided from Radlett Motor Centre Ltd of £7,736 (2024: ££NIL).

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