Company Registration No. 07187652 (England and Wales)
Jon Mitchell Property Services Ltd
Unaudited accounts
for the year ended 31 March 2023
Jon Mitchell Property Services Ltd
Unaudited accounts
Contents
Jon Mitchell Property Services Ltd
Company Information
for the year ended 31 March 2023
Directors
Jonathan Mitchell
Michelle Mitchell
Company Number
07187652 (England and Wales)
Registered Office
Bayside Business Centre
Unit 1
Sovereign Business Park, Willis Way
Poole
Dorset
BH15 3TB
England
Accountants
Contrast Accounting Limited T/A Accrue Accounting
Bayside Business Centre
Unit 1 Sovereign Business Park
Willis Way
Poole
BH15 3TB
Jon Mitchell Property Services Ltd
Statement of financial position
as at 31 March 2023
Intangible assets
2,800
4,200
Tangible assets
7,577
10,102
Cash at bank and in hand
1,167
4,098
Creditors: amounts falling due within one year
230
3,086
Net current assets
6,122
13,581
Total assets less current liabilities
16,499
27,883
Creditors: amounts falling due after more than one year
(14,428)
(19,443)
Provisions for liabilities
Deferred tax
(1,971)
(2,717)
Called up share capital
100
100
Profit and loss account
-
5,623
Shareholders' funds
100
5,723
For the year ending 31 March 2023 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 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 of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by
Jonathan Mitchell
Director
Company Registration No. 07187652
Jon Mitchell Property Services Ltd
Notes to the Accounts
for the year ended 31 March 2023
Jon Mitchell Property Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 07187652. The registered office is Bayside Business Centre, Unit 1, Sovereign Business Park, Willis Way, Poole, Dorset, BH15 3TB, 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.
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses 15 years.
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:
Plant & machinery
25% on the reducing balance
Motor vehicles
25% on the reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Jon Mitchell Property Services Ltd
Notes to the Accounts
for the year ended 31 March 2023
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
1,006
17,032
18,038
At 31 March 2023
1,006
17,032
18,038
At 1 April 2022
406
7,530
7,936
Charge for the year
150
2,375
2,525
At 31 March 2023
556
9,905
10,461
At 31 March 2023
450
7,127
7,577
At 31 March 2022
600
9,502
10,102
Amounts falling due within one year
Accrued income and prepayments
-
446
Jon Mitchell Property Services Ltd
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,894
4,773
Taxes and social security
6,887
6,911
Loans from directors
(15,376)
(23,261)
8
Creditors: amounts falling due after more than one year
2023
2022
Amounts payable in more than five years by instalments: £0.
The bank loan is guaranteed by the government under the Bounce Back Loan Scheme.
9
Deferred taxation
2023
2022
Accelerated capital allowances
1,971
2,717
Provision at start of year
2,717
3,668
Credited to the profit and loss account
(746)
(951)
Provision at end of year
1,971
2,717
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to Directors
11,631
7,498
11,440
7,689
Loan to Directors
11,630
7,497
11,440
7,687
23,261
14,995
22,880
15,376
11
Average number of employees
During the year the average number of employees was 2 (2022: 1).