Company Registration No. 11632040 (England and Wales)
MANGO B2B LIMITED
Unaudited accounts
for the year ended 31 October 2022
MANGO B2B LIMITED
Unaudited accounts
Contents
MANGO B2B LIMITED
Company Information
for the year ended 31 October 2022
Company Number
11632040 (England and Wales)
Registered Office
Longcroft House
2/8 Victoria Avenue
London
EC2M 4NS
England
Accountants
SHIPLEYS ACCOUNTING
32 PARK CROSS STREET
LEEDS
WEST YORKSHIRE
LS1 2QH
MANGO B2B LIMITED
Statement of financial position
as at 31 October 2022
Cash at bank and in hand
6,261
4,539
Creditors: amounts falling due within one year
(14,272)
(24,858)
Net current liabilities
(8,011)
(20,319)
Total assets less current liabilities
(8,011)
(20,218)
Creditors: amounts falling due after more than one year
(18,811)
(21,417)
Net liabilities
(26,822)
(41,635)
Called up share capital
1,027
1,013
Share premium
249,974
129,987
Profit and loss account
(277,823)
(172,635)
Shareholders' funds
(26,822)
(41,635)
For the year ending 31 October 2022 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2023 and were signed on its behalf by
Shahid Maqbool
Director
Company Registration No. 11632040
MANGO B2B LIMITED
Notes to the Accounts
for the year ended 31 October 2022
MANGO B2B LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11632040. The registered office is Longcroft House, 2/8 Victoria Avenue, London, EC2M 4NS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
3 Years
Computer equipment
3 Years
Expenditure on research and development is written off in the year in which it is incurred.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
MANGO B2B LIMITED
Notes to the Accounts
for the year ended 31 October 2022
Finance costs are charged to profit or loss over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
4
Tangible fixed assets
Fixtures & fittings
5
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
2,606
2,542
Loans from directors
10,082
21,596
Bank loans of £2,606 relate to the Bounce Back Loan Scheme offered during the Covid-19 pandemic. The scheme provides a government-backed guarantee of 100% against the outstanding facility balance (principle and interest).
6
Creditors: amounts falling due after more than one year
2022
2021
Loans due after one year relate to the Bounce Back Loan Scheme offered during the Covid-19 pandemic. The scheme provides a government-backed guarantee of 100% against the outstanding facility balance (principle and interest).
Allotted, called up and fully paid:
1,026,500 Ordinary shares of £0.001 each
1,026.50
1,013.00
Shares issued during the period:
13,500 Ordinary shares of £0.001 each
13.50
MANGO B2B LIMITED
Notes to the Accounts
for the year ended 31 October 2022
8
Average number of employees
During the year the average number of employees was 1 (2021: 1).