REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 30 April 2023 |
for |
Mitchell Property Developments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 30 April 2023 |
for |
Mitchell Property Developments Limited |
Mitchell Property Developments Limited (Registered number: 10442130) |
Contents of the Financial Statements |
For The Year Ended 30 April 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Mitchell Property Developments Limited (Registered number: 10442130) |
Balance Sheet |
30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Mitchell Property Developments Limited (Registered number: 10442130) |
Notes to the Financial Statements |
For The Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Mitchell Property Developments Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable for building works, excluding value added tax. Turnover for the sale of land and property is recognised upon exchange of contracts. |
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 - 25% reducing balance |
Motor vehicles - 25% reducing balance |
Computer equipment - 33% straight line |
Furniture and fixtures - 33% straight line |
Work in progress |
Work in progress is valued at the lower of cost and net realisable value. Work in progress consists of materials, sub contract labour, land, borrowing costs and utilities. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Mitchell Property Developments Limited (Registered number: 10442130) |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2022 |
Additions |
Disposals | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Bank loans |
Mitchell Property Developments Limited (Registered number: 10442130) |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.23 | 30.4.22 |
£ | £ |
Hire purchase | - | 3,495 |
Bank loans | 740,235 | 978,242 |
Hire purchase debts are secured on the assets acquired. |
Bank loans are secured by way of a fixed charge over the land and floating charge over all property and undertakings of the company. |
9. | RELATED PARTY DISCLOSURES |
A loan existed between the company and Mitchell Holdings (SW) Limited, the parent company. At the end of the period £178,100 (2022:£99,000) was owed by Mitchell Property Developments Limited. |
A loan existed between the company and Strashleigh Farm Ltd, a sister company. At the end of the period £Nil (2021:£Nil) was owed to Mitchell Property Developments Limited. |
A loan existed between the company and Mitchell Property Investments (SW) Ltd, a sister company. At the end of the period £497,194 (2021: £Nil) was owed by Mitchell Property Developments Limited. |