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REGISTERED NUMBER: 07497420 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 January 2023

for

J MITCHINSON LIMITED

J MITCHINSON LIMITED (REGISTERED NUMBER: 07497420)






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


J MITCHINSON LIMITED

Company Information
for the year ended 31 January 2023







DIRECTORS: J Mitchinson
J I Mitchinson
J Mitchinson





SECRETARY: J Mitchinson





REGISTERED OFFICE: Randolph Industrial Estate
Evenwood
Bishop Auckland
Co. Durham
DL14 9QL





REGISTERED NUMBER: 07497420 (England and Wales)





ACCOUNTANTS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

J MITCHINSON LIMITED (REGISTERED NUMBER: 07497420)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,311,710 1,525,643

CURRENT ASSETS
Debtors 5 316,359 338,367
Cash at bank and in hand 193,302 432,896
509,661 771,263
CREDITORS
Amounts falling due within one year 6 276,618 414,793
NET CURRENT ASSETS 233,043 356,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,544,753

1,882,113

CREDITORS
Amounts falling due after more than one
year

7

(460,258

)

(574,015

)

PROVISIONS FOR LIABILITIES (149,570 ) (153,678 )
NET ASSETS 934,925 1,154,420

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 934,825 1,154,320
SHAREHOLDERS' FUNDS 934,925 1,154,420

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.

J MITCHINSON LIMITED (REGISTERED NUMBER: 07497420)

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 12 October 2023 and were signed on its behalf by:




J Mitchinson - Director J I Mitchinson - Director




J Mitchinson - Director


J MITCHINSON LIMITED (REGISTERED NUMBER: 07497420)

Notes to the Financial Statements
for the year ended 31 January 2023

1. STATUTORY INFORMATION

J Mitchinson Limited is a private company, limited by shares , registered in England and Wales. 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Nil
Improvements to property - 4% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

J MITCHINSON LIMITED (REGISTERED NUMBER: 07497420)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Capital instruments
All classes of shares are included within the shareholders funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 35 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 February 2022 641,949 81,467 1,204,576
Additions - - 140,363
Disposals - - (218,500 )
At 31 January 2023 641,949 81,467 1,126,439
DEPRECIATION
At 1 February 2022 - 8,371 428,056
Charge for year - 3,259 204,487
Eliminated on disposal - - (80,989 )
At 31 January 2023 - 11,630 551,554
NET BOOK VALUE
At 31 January 2023 641,949 69,837 574,885
At 31 January 2022 641,949 73,096 776,520

J MITCHINSON LIMITED (REGISTERED NUMBER: 07497420)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2022 44,280 25,697 37,317 2,035,286
Additions - - 1,347 141,710
Disposals - (6,500 ) - (225,000 )
At 31 January 2023 44,280 19,197 38,664 1,951,996
DEPRECIATION
At 1 February 2022 31,294 19,157 22,765 509,643
Charge for year 3,336 1,287 4,282 216,651
Eliminated on disposal - (5,019 ) - (86,008 )
At 31 January 2023 34,630 15,425 27,047 640,286
NET BOOK VALUE
At 31 January 2023 9,650 3,772 11,617 1,311,710
At 31 January 2022 12,986 6,540 14,552 1,525,643

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 February 2022 632,662
Additions 98,455
Disposals (181,000 )
Transfer to ownership (44,000 )
At 31 January 2023 506,117
DEPRECIATION
At 1 February 2022 170,425
Charge for year 119,208
Eliminated on disposal (69,120 )
Transfer to ownership (33,778 )
At 31 January 2023 186,735
NET BOOK VALUE
At 31 January 2023 319,382
At 31 January 2022 462,237

J MITCHINSON LIMITED (REGISTERED NUMBER: 07497420)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 228,237 318,239
Other debtors 88,122 20,128
316,359 338,367

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,500 35,625
Hire purchase contracts 100,182 147,374
Trade creditors 59,302 104,865
Taxation and social security 70,956 110,247
Other creditors 13,678 16,682
276,618 414,793

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 326,369 339,962
Hire purchase contracts 133,889 234,053
460,258 574,015

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 211,369 202,462

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 234,071 381,427
Commercial Mortgage 323,869 330,587
557,940 712,014

The Commercial Mortgage is secured against the Freehold Property held.

The hire purchase liabilities are secured against the asset to which they relate.