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REGISTERED NUMBER: 04393209 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Mitchell & Rollins Limited

Mitchell & Rollins Limited (Registered number: 04393209)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 3

Notes to the Financial Statements 5


Mitchell & Rollins Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr K Daykin
Ms S J Pearson
Mr A D Pearson





REGISTERED OFFICE: Hornbeam House
Bidwell Road
Rackheath
Norwich
Norfolk
NR13 6PT





BUSINESS ADDRESS: Barn View
Rectory Road
Wood Norton
Dereham
Norfolk
NR20 5BA





REGISTERED NUMBER: 04393209 (England and Wales)






Mitchell & Rollins Limited

Company Information
for the Year Ended 31 March 2023







ACCOUNTANTS: Steve Pye & Co.
Chartered Certified Accountants
Unit 8
Home Farm
Norwich Road
Norwich
Norfolk
NR10 5PQ

Mitchell & Rollins Limited (Registered number: 04393209)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 17,452 23,063
17,452 23,063

CURRENT ASSETS
Stocks 185,344 191,770
Debtors 7 19,767 27,179
Cash at bank and in hand 7,167 25,914
212,278 244,863
CREDITORS
Amounts falling due within one year 8 123,564 132,473
NET CURRENT ASSETS 88,714 112,390
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,166

135,453

PROVISIONS FOR LIABILITIES 3,316 -
NET ASSETS 102,850 135,453

Mitchell & Rollins Limited (Registered number: 04393209)

Balance Sheet - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 102,750 135,353
SHAREHOLDERS' FUNDS 102,850 135,453

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

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

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 27 September 2023 and were signed on its behalf by:




Mr K Daykin - Director Ms S J Pearson - Director




Mr A D Pearson - Director


Mitchell & Rollins Limited (Registered number: 04393209)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Mitchell & Rollins 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to excise judgment in applying the Company's accounting policies.


The Financial statements are presented in Sterling (£).

The following principal accounting policies have been applied

Significant judgements and estimates
In the application of the Company's accounting policies, the Directors are required to make judgements,estimates and assumptions. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:

The Directors make judgements regarding construction contracts in accordance with the accounting policy Construction Contracts noted above. These include assessment of profits, losses and the timing of contract completion.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful life of the goodwill of XX years.

Mitchell & Rollins Limited (Registered number: 04393209)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Mitchell & Rollins Limited (Registered number: 04393209)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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

Mitchell & Rollins Limited (Registered number: 04393209)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. 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.

Construction contracts
Contracts in process are stated at prime cost plus contracting overheads, account being taken of profits accrued to date on long term contracts and provisions for losses, including estimated future losses.

Contracts awarded since the year end but for which there has been prior agreement to tender are included in contracts in progress and, where appropriate, provisions have been made in respect of any losses anticipated on such contracts.

Claims receivable arising on contracts are normally taken to profit when agreed and paid.

Progress payments received and receivable attributable to the value of contracts are deducted in presenting the amounts recoverable on contracts in the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 14 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 20,000
AMORTISATION
At 1 April 2022
and 31 March 2023 20,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Mitchell & Rollins Limited (Registered number: 04393209)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 68,191 98,092 5,761 172,044
Additions 2,726 - - 2,726
Disposals (49,711 ) - (3,987 ) (53,698 )
At 31 March 2023 21,206 98,092 1,774 121,072
DEPRECIATION
At 1 April 2022 58,209 86,161 4,611 148,981
Charge for year 4,646 3,341 355 8,342
Eliminated on disposal (49,716 ) - (3,987 ) (53,703 )
At 31 March 2023 13,139 89,502 979 103,620
NET BOOK VALUE
At 31 March 2023 8,067 8,590 795 17,452
At 31 March 2022 9,982 11,931 1,150 23,063

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,767 27,069
Other debtors - 110
19,767 27,179

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,684 4,273
Trade creditors 55,550 71,265
Corporation tax - 2,298
Social security and other taxes 10,531 7,786
VAT 24,811 20,926
Pensions 280 -
Accruals 2,155 2,143
Directors' current accounts 28,553 23,782
123,564 132,473