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REGISTERED NUMBER: 01689144 (England and Wales)















Financial Statements

for the Year Ended 31 March 2023

for

MITCHELL'S WOOL FAT SOAP LIMITED

MITCHELL'S WOOL FAT SOAP LIMITED (REGISTERED NUMBER: 01689144)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MITCHELL'S WOOL FAT SOAP LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: W N Robinson
J P Robinson





SECRETARY: Mrs M J E Robinson





REGISTERED OFFICE: 46 St Helena Road
Wibsey
Bradford
BD1 1QH





REGISTERED NUMBER: 01689144 (England and Wales)





ACCOUNTANTS: Rawse, Varley & Co
Chartered Accountants
Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ

MITCHELL'S WOOL FAT SOAP LIMITED (REGISTERED NUMBER: 01689144)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,550 2,056

CURRENT ASSETS
Stock 56,556 43,666
Debtors 5 23,998 29,873
Cash at bank 14,527 19,142
95,081 92,681
CREDITORS
Amounts falling due within one year 6 66,477 65,455
NET CURRENT ASSETS 28,604 27,226
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,154

29,282

PROVISIONS FOR LIABILITIES 1,235 380
NET ASSETS 33,919 28,902

CAPITAL AND RESERVES
Called up share capital 7 5 5
Retained earnings 33,914 28,897
SHAREHOLDERS' FUNDS 33,919 28,902

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.

MITCHELL'S WOOL FAT SOAP LIMITED (REGISTERED NUMBER: 01689144)

Balance Sheet - continued
31 March 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 20 November 2023 and were signed on its behalf by:





W N Robinson - Director


MITCHELL'S WOOL FAT SOAP LIMITED (REGISTERED NUMBER: 01689144)

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


1. STATUTORY INFORMATION

Mitchell's Wool Fat Soap 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 represents the invoiced value of goods sold and services provided, excluding value added tax.

Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation.

Depreciation is calculated on a reducing balance basis, to write off the assets over their estimated useful lives at the following annual rates:

Fixtures, fittings and equipment-15%
Improvements to property-15%

Stocks
Stocks are stated at the lower of cost and net realisable value as follows:

Cost incurred in bringing each product to its present location and condition.

Raw materials - purchase cost
Finished goods - cost of direct materials and labour plus attributable overheads

Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal.

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.

MITCHELL'S WOOL FAT SOAP LIMITED (REGISTERED NUMBER: 01689144)

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


2. ACCOUNTING POLICIES - continued

Foreign currency transactions
Income received in foreign currency is recorded at the rate ruling at the date of the transaction.

Debtors are included at the year end exchange rate, any difference on exchange being written off to profit and loss account in the year to which the transaction relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 April 2022 7,366 14,207 21,573
Additions - 5,650 5,650
At 31 March 2023 7,366 19,857 27,223
DEPRECIATION
At 1 April 2022 7,310 12,207 19,517
Charge for year 8 1,148 1,156
At 31 March 2023 7,318 13,355 20,673
NET BOOK VALUE
At 31 March 2023 48 6,502 6,550
At 31 March 2022 56 2,000 2,056

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,169 29,873
Prepayments and accrued income 4,829 -
23,998 29,873

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 31,373 29,614
Corporation tax (74 ) 833
Social security and other taxes 1,015 4,063
Other creditors 30,973 24,868
Directors' current accounts 117 117
Accruals and deferred income 3,073 5,960
66,477 65,455

MITCHELL'S WOOL FAT SOAP LIMITED (REGISTERED NUMBER: 01689144)

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


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5 Ordinary 1 5 5