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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
Page
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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
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Jon Mitchell Property Services Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,800 
4,200 
Tangible assets
7,577 
10,102 
10,377 
14,302 
Current assets
Inventories
4,725 
- 
Debtors
- 
6,397 
Cash at bank and in hand
1,167 
4,098 
5,892 
10,495 
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)
Net assets
100 
5,723 
Capital and reserves
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
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Jon Mitchell Property Services Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of Preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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.
Intangible Fixed Assets
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 Taxation
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
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.
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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 
£ 
Cost
At 1 April 2022
21,000 
At 31 March 2023
21,000 
Amortisation
At 1 April 2022
16,800 
Charge for the year
1,400 
At 31 March 2023
18,200 
Net book value
At 31 March 2023
2,800 
At 31 March 2022
4,200 
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 
Depreciation
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 
Net book value
At 31 March 2023
450 
7,127 
7,577 
At 31 March 2022
600 
9,502 
10,102 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
5,951 
Accrued income and prepayments
- 
446 
- 
6,397 
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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 
VAT
2,900 
5,417 
Trade creditors
465 
959 
Taxes and social security
6,887 
6,911 
Other creditors
- 
648 
Loans from directors
(15,376)
(23,261)
Accruals
- 
1,467 
(230)
(3,086)
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,428 
19,443 
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 
2023 
2022 
£ 
£ 
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 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Jonathan Mitchell
Loan to Directors
11,631 
7,498 
11,440 
7,689 
Michelle Mitchell
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).
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