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REGISTERED NUMBER: NI014414 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 January 2023

for

MITCHELL DEVELOPMENT LIMITED

MITCHELL DEVELOPMENT LIMITED (REGISTERED NUMBER: NI014414)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MITCHELL DEVELOPMENT LIMITED

Company Information
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr J Mitchell
Miss J Mitchell





SECRETARY: Mrs A Mitchell - Deceased





REGISTERED OFFICE: 114 Princetown Road
Bangor
Co. Down
BT20 3TG





REGISTERED NUMBER: NI014414 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

MITCHELL DEVELOPMENT LIMITED (REGISTERED NUMBER: NI014414)

Balance Sheet
31 JANUARY 2023

31/1/23 31/1/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,000,000 2,000,000

CURRENT ASSETS
Debtors 5 10,872 51,246
Cash at bank 87,778 67,988
98,650 119,234
CREDITORS
Amounts falling due within one year 6 376,328 382,457
NET CURRENT LIABILITIES (277,678 ) (263,223 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,722,322

1,736,777

PROVISIONS FOR LIABILITIES 147,132 147,132
NET ASSETS 1,575,190 1,589,645

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,574,190 1,588,645
1,575,190 1,589,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

MITCHELL DEVELOPMENT LIMITED (REGISTERED NUMBER: NI014414)

Balance Sheet - continued
31 JANUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:





Mr J Mitchell - Director


MITCHELL DEVELOPMENT LIMITED (REGISTERED NUMBER: NI014414)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Mitchell Development Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 Income Statement, 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 1 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 2,000,000
NET BOOK VALUE
At 31 January 2023 2,000,000
At 31 January 2022 2,000,000

MITCHELL DEVELOPMENT LIMITED (REGISTERED NUMBER: NI014414)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/23 31/1/22
£    £   
Trade debtors 10,872 31,246
Other debtors - 20,000
10,872 51,246

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/23 31/1/22
£    £   
Bank loans and overdrafts 59,305 65,913
Taxation and social security 50,950 43,562
Other creditors 266,073 272,982
376,328 382,457