GREG MITCHELL MOTORS LTD

Company Registration Number:
NI065247 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

GREG MITCHELL MOTORS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

GREG MITCHELL MOTORS LTD

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 60,000 75,000
Tangible assets: 4 559,175 573,189
Total fixed assets: 619,175 648,189
Current assets
Stocks: 3,629,862 3,459,146
Debtors:   620,741 726,275
Cash at bank and in hand: 43,977 67,008
Total current assets: 4,294,580 4,252,429
Creditors: amounts falling due within one year:   (3,256,510) (2,993,730)
Net current assets (liabilities): 1,038,070 1,258,699
Total assets less current liabilities: 1,657,245 1,906,888
Creditors: amounts falling due after more than one year:   (442,069) (687,634)
Provision for liabilities: (20,000) (27,000)
Total net assets (liabilities): 1,195,176 1,192,254
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 1,195,166 1,192,244
Shareholders funds: 1,195,176 1,192,254

The notes form part of these financial statements

GREG MITCHELL MOTORS LTD

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 June 2024
and signed on behalf of the board by:

Name: Greg Mitchell
Status: Director

The notes form part of these financial statements

GREG MITCHELL MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GREG MITCHELL MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 35 34

GREG MITCHELL MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Intangible Assets

Total
Cost £
At 01 February 2023 300,000
At 31 January 2024 300,000
Amortisation
At 01 February 2023 225,000
Charge for year 15,000
At 31 January 2024 240,000
Net book value
At 31 January 2024 60,000
At 31 January 2023 75,000

GREG MITCHELL MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Tangible Assets

Total
Cost £
At 01 February 2023 1,322,790
Additions 84,851
At 31 January 2024 1,407,641
Depreciation
At 01 February 2023 749,601
Charge for year 98,865
At 31 January 2024 848,466
Net book value
At 31 January 2024 559,175
At 31 January 2023 573,189