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Company registration number: 7918457
Andrew Mellor Limited
Unaudited filleted financial statements
31 October 2023
Andrew Mellor Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Andrew Mellor Limited
Directors and other information
Directors A Mellor
S Mellor
Company number 7918457
Registered office 94 Norbreck Road
Thornton-Cleveleys
Lancs
FY5 1RP
Accountants Turner and Brown Limited
105 Garstang Road
Preston
Lancs
PR1 1LD
Andrew Mellor Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Andrew Mellor Limited
Year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andrew Mellor Limited for the year ended 31 October 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the board of directors of Andrew Mellor Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Andrew Mellor Limited and state those matters that we have agreed to state to the board of directors of Andrew Mellor Limited as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrew Mellor Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Andrew Mellor Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Andrew Mellor Limited. You consider that Andrew Mellor Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Andrew Mellor Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Turner and Brown Limited
Chartered Accountants
105 Garstang Road
Preston
Lancs
PR1 1LD
Andrew Mellor Limited
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 334,400 339,297
Investments 7 387,911 387,911
_______ _______
722,311 727,208
Current assets
Stocks 70,212 76,157
Debtors 8 63,623 60,924
Cash at bank and in hand 161,986 10,431
_______ _______
295,821 147,512
Creditors: amounts falling due
within one year 9 ( 257,789) ( 242,636)
_______ _______
Net current assets/(liabilities) 38,032 ( 95,124)
_______ _______
Total assets less current liabilities 760,343 632,084
Creditors: amounts falling due
after more than one year 10 ( 47,468) ( 67,107)
Provisions for liabilities ( 39,113) ( 47,406)
_______ _______
Net assets 673,762 517,571
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss - fair value 2,468 2,468
Profit and loss account 671,194 515,003
_______ _______
Shareholders funds 673,762 517,571
_______ _______
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 March 2024 , and are signed on behalf of the board by:
A Mellor S Mellor
Director Director
Company registration number: 7918457
Andrew Mellor Limited
Statement of changes in equity
Year ended 31 October 2023
Called up share capital Profit and loss - fair value Profit and loss account Total
£ £ £ £
At 1 November 2021 100 - 381,786 381,886
Profit for the year 205,525 205,525
Other comprehensive income for the year:
User defined other comprehensive income movement 1 - 2,468 ( 2,468) -
_______ _______ _______ _______
Total comprehensive income for the year - 2,468 203,057 205,525
Dividends paid and payable ( 69,840) ( 69,840)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 69,840) ( 69,840)
_______ _______ _______ _______
At 31 October 2022 and 1 November 2022 100 2,468 515,003 517,571
Profit for the year 248,875 248,875
_______ _______ _______ _______
Total comprehensive income for the year - - 248,875 248,875
Dividends paid and payable ( 92,684) ( 92,684)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 92,684) ( 92,684)
_______ _______ _______ _______
At 31 October 2023 100 2,468 671,194 673,762
_______ _______ _______ _______
Andrew Mellor Limited
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 94 Norbreck Road, Thornton-Cleveleys, Lancs, FY5 1RP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when supplied to the customers. Sales of any goods takes at the company's premises and as such there is no period where the goods are in transit. These are therefore recognised at the point of sale.
In relation to services revenue is recognised upon completion of the services. This is usually on the same day that the treatment or service is supplied as it is rare and services stretch over one day. However, the company do have some plans in place with customers who pay regularly for the care of their pets. This income is recognised on a consistent basis over the term of the agreement.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
The goodwill had been fully amortised at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
The directors have stated that, as property residual value now exceeds net book value, no depreciation will be charged in these financial accounts.
Freehold property - 2 % straight line
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
One of the properties was valued on 8 March 2023 by the Letting and Estate agents that currently let the property. They have in-depth experience of the property market within that geographical area, and it was therefore deemed to be a reliable valuation. It has been assumed that the value had been unchanged between the this valuation and the reporting date. The second investment property had been held for just over one year at the reporting date and the directors did not believe there had been a material change in the property's market value in the period.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2022: 21 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 November 2022 and 31 October 2023 357,000 357,000
_______ _______
Amortisation
At 1 November 2022 and 31 October 2023 357,000 357,000
_______ _______
Carrying amount
At 31 October 2023 - -
_______ _______
At 31 October 2022 - -
_______ _______
6. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 November 2022 194,579 23,500 284,997 46,259 549,335
Additions - 7,000 20,025 - 27,025
_______ _______ _______ _______ _______
At 31 October 2023 194,579 30,500 305,022 46,259 576,360
_______ _______ _______ _______ _______
Depreciation
At 1 November 2022 26,814 881 145,174 37,167 210,036
Charge for the year 3,892 3,830 21,929 2,273 31,924
_______ _______ _______ _______ _______
At 31 October 2023 30,706 4,711 167,103 39,440 241,960
_______ _______ _______ _______ _______
Carrying amount
At 31 October 2023 163,873 25,789 137,919 6,819 334,400
_______ _______ _______ _______ _______
At 31 October 2022 167,765 22,619 139,823 9,092 339,299
_______ _______ _______ _______ _______
7. Investments
Investment property Total
£ £
Cost
At 1 November 2022 and 31 October 2023 387,911 387,911
_______ _______
Impairment
At 1 November 2022 and 31 October 2023 - -
_______ _______
Carrying amount
At 31 October 2023 387,911 387,911
_______ _______
At 31 October 2022 387,911 387,911
_______ _______
8. Debtors
2023 2022
£ £
Trade debtors 26,219 21,139
Other debtors 37,404 39,785
_______ _______
63,623 60,924
_______ _______
9. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 22,802 22,802
Trade creditors 5,721 5,393
Taxation and social security 111,601 87,392
Other creditors 117,665 127,049
_______ _______
257,789 242,636
_______ _______
10. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 47,468 67,107
_______ _______
11. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
A Mellor ( 55,170) 39,467 ( 36,598) ( 52,301)
S Mellor ( 56,493) 39,165 ( 36,787) ( 54,115)
_______ _______ _______ _______
( 111,663) 78,632 ( 73,385) ( 106,416)
_______ _______ _______ _______
These loans were subject to an interest charge of 7.5% p.a. calculated daily and paid annually. These loans were repayable on demand.
12. Controlling party
The company is controlled by the directors.