Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseHolding investments11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI019814 2023-03-01 2024-02-29 NI019814 2022-03-01 2023-02-28 NI019814 2024-02-29 NI019814 2023-02-28 NI019814 c:Director1 2023-03-01 2024-02-29 NI019814 d:CurrentFinancialInstruments 2024-02-29 NI019814 d:CurrentFinancialInstruments 2023-02-28 NI019814 d:Non-currentFinancialInstruments 2024-02-29 NI019814 d:Non-currentFinancialInstruments 2023-02-28 NI019814 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 NI019814 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 NI019814 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 NI019814 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 NI019814 d:ShareCapital 2024-02-29 NI019814 d:ShareCapital 2023-02-28 NI019814 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 NI019814 d:RetainedEarningsAccumulatedLosses 2024-02-29 NI019814 d:RetainedEarningsAccumulatedLosses 2023-02-28 NI019814 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-02-29 NI019814 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 NI019814 c:OrdinaryShareClass1 2023-03-01 2024-02-29 NI019814 c:OrdinaryShareClass1 2024-02-29 NI019814 c:OrdinaryShareClass1 2023-02-28 NI019814 c:FRS102 2023-03-01 2024-02-29 NI019814 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 NI019814 c:FullAccounts 2023-03-01 2024-02-29 NI019814 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI019814 d:Subsidiary1 2023-03-01 2024-02-29 NI019814 d:Subsidiary1 1 2023-03-01 2024-02-29 NI019814 d:Subsidiary2 2023-03-01 2024-02-29 NI019814 d:Subsidiary2 1 2023-03-01 2024-02-29 NI019814 2 2023-03-01 2024-02-29 NI019814 6 2023-03-01 2024-02-29 NI019814 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI019814










HAROLD MITCHELL (BELFAST) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
HAROLD MITCHELL (BELFAST) LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9


 
HAROLD MITCHELL (BELFAST) LIMITED
REGISTERED NUMBER: NI019814

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
23,000
23,000

  
23,000
23,000

Current assets
  

Cash at bank and in hand
 5 
-
1,240,545

  
-
1,240,545

Creditors: amounts falling due within one year
 6 
-
(2,357)

Net current assets
  
 
 
-
 
 
1,238,188

Total assets less current liabilities
  
23,000
1,261,188

Creditors: amounts falling due after more than one year
 7 
(23,000)
(23,000)

  

Net assets
  
-
1,238,188


Capital and reserves
  

Called up share capital 
 9 
1,192
1,192

Profit and loss account
 10 
(1,192)
1,236,996

  
-
1,238,188


Page 1

 
HAROLD MITCHELL (BELFAST) LIMITED
REGISTERED NUMBER: NI019814

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.


Harold Leslie Mitchell
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HAROLD MITCHELL (BELFAST) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Harold Mitchell (Belfast) Limited is a private company limited by shares and is incorporated and registered in Northern Ireland under Company Registration Number NI019814.
The company's registered office is situated at Suite 2.06 Custom House, Custom House Square, Belfast, BT1 3ET.
The company's principal activities during the year were that of an investment company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of
Page 3

 
HAROLD MITCHELL (BELFAST) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are
Page 4

 
HAROLD MITCHELL (BELFAST) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
HAROLD MITCHELL (BELFAST) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023
23,000



At 29 February 2024
23,000






Net book value



At 29 February 2024
23,000



At 28 February 2023
23,000

Page 6

 
HAROLD MITCHELL (BELFAST) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Principal activity

Class of shares

Holding

Harold Mitchell (Dromore) Limited
Dormant
Ordinary
100%
Harold Mitchell (Banbridge) Limited
Dormant
Ordinary
100%

The aggregate of the share capital and reserves as at 29 February 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Harold Mitchell (Dromore) Limited
1,000
-

Harold Mitchell (Banbridge) Limited
22,000
-

The subsidiaries of the company have not generated a profit or loss in the period as these companies were dormant.


5.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
-
1,240,545

-
1,240,545



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Corporation tax
-
1,807

Accruals and deferred income
-
550

-
2,357


Page 7

 
HAROLD MITCHELL (BELFAST) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Amounts owed to group undertakings
23,000
23,000

23,000
23,000



8.


Financial instruments

29 February
28 February
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
-
1,240,545




Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

Page 8

 
HAROLD MITCHELL (BELFAST) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



1,192 (2023 - 1,192) Ordinary shares of £1.00 each
1,192
1,192



10.


Reserves

Profit & loss account

The profit and loss account is a fully distributable reserve and includes all current and prior year retained profits and losses.


11.


Controlling party

The company's controlling parent undertaking is Laban Investments Limited, a company incorporated in Northern Ireland, having the same registered office address as its subsidiary. The ultimate controlling parent undertaking is Harold Mitchell Investments Limited, a company incorporated in Northern Ireland, having the same registered office address as its subsidiary. Harold Mitchell Investments Limited is the parent company of Laban Investments Limited.
The group is not required to prepare consolidated financial statements on the grounds that it qualifies as a small group under the Companies Act (2006).


Page 9