Mitchell Boys Limited NI692530 false 2022-11-13 2023-11-30 2023-11-30 The principal activity of the company is Transport. Digita Accounts Production Advanced 6.30.9574.0 true true true NI692530 2022-11-13 2023-11-30 NI692530 2023-11-30 NI692530 bus:OrdinaryShareClass1 2023-11-30 NI692530 core:CurrentFinancialInstruments 2023-11-30 NI692530 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 NI692530 core:OtherPropertyPlantEquipment 2023-11-30 NI692530 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-11-30 NI692530 bus:SmallEntities 2022-11-13 2023-11-30 NI692530 bus:AuditExemptWithAccountantsReport 2022-11-13 2023-11-30 NI692530 bus:FilletedAccounts 2022-11-13 2023-11-30 NI692530 bus:SmallCompaniesRegimeForAccounts 2022-11-13 2023-11-30 NI692530 bus:RegisteredOffice 2022-11-13 2023-11-30 NI692530 bus:Director1 2022-11-13 2023-11-30 NI692530 bus:Director2 2022-11-13 2023-11-30 NI692530 bus:OrdinaryShareClass1 2022-11-13 2023-11-30 NI692530 bus:PrivateLimitedCompanyLtd 2022-11-13 2023-11-30 NI692530 core:OtherPropertyPlantEquipment 2022-11-13 2023-11-30 NI692530 core:PlantMachinery 2022-11-13 2023-11-30 NI692530 core:KeyManagementPersonnel 2022-11-13 2023-11-30 NI692530 1 2022-11-13 2023-11-30 NI692530 1 2022-11-13 2023-11-30 NI692530 countries:NorthernIreland 2022-11-13 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI692530

Mitchell Boys Limited

Unaudited Filleted Financial Statements

for the Period from 13 November 2022 to 30 November 2023

 

Mitchell Boys Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Mitchell Boys Limited

Company Information

Directors

Mr Jordan David Mitchell

Mr Lewis Andrew Mitchell

Registered office

11 Ballyrickard Road
LARNE
Co. Antrim
BT40 3DP

Accountants

DT Carson & Co.
51 - 53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ

 

Mitchell Boys Limited

(Registration number: NI692530)
Balance Sheet as at 30 November 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

124,245

Current assets

 

Debtors

5

54,831

Cash at bank and in hand

 

23,809

 

78,640

Creditors: Amounts falling due within one year

6

(168,204)

Net current liabilities

 

(89,564)

Total assets less current liabilities

 

34,681

Provisions for liabilities

(24,471)

Net assets

 

10,210

Capital and reserves

 

Called up share capital

7

2

Retained earnings

10,208

Shareholders' funds

 

10,210

For the financial period ending 30 November 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

.........................................
Mr Lewis Andrew Mitchell
Director

 

Mitchell Boys Limited

Notes to the Unaudited Financial Statements for the Period from 13 November 2022 to 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
11 Ballyrickard Road
LARNE
Co. Antrim
BT40 3DP

These financial statements were authorised for issue by the Board on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency of these financial statements is sterling and all amounts have been rounded to the
nearest £1.

Disclosure of long or short period

The accounting period for the financial statements covers from the date of incoporation 13th November 2022 to the 30th of November 2023. Furthermore, trading did not actually commence until the 1st of April 2023 so next years financial statements will not be entirely comparable.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The directors believe that the company will continue as a going concern and be able to realise its assets and discharge its liabilities in the normal course of business.

 

Mitchell Boys Limited

Notes to the Unaudited Financial Statements for the Period from 13 November 2022 to 30 November 2023

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The company assesses at each reporting date whether tangible fixedassets are impaired.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Reducing Balance

 

Mitchell Boys Limited

Notes to the Unaudited Financial Statements for the Period from 13 November 2022 to 30 November 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Mitchell Boys Limited

Notes to the Unaudited Financial Statements for the Period from 13 November 2022 to 30 November 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

155,306

155,306

At 30 November 2023

155,306

155,306

Depreciation

Charge for the period

31,061

31,061

At 30 November 2023

31,061

31,061

Carrying amount

At 30 November 2023

124,245

124,245

5

Debtors

Current

2023
£

Trade debtors

37,008

Prepayments

11,375

Other debtors

6,448

 

54,831

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

11,723

Accruals and deferred income

3,000

Other creditors

153,481

168,204

 

Mitchell Boys Limited

Notes to the Unaudited Financial Statements for the Period from 13 November 2022 to 30 November 2023

7

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary of £1 each

2

2

   

8

Related party transactions

Key management personnel

The company's key management personnel are deemed to be the directors.

Expenditure with and payables to related parties

2023

Key management
£

Amounts payable to related party

153,481

9

Parent and ultimate parent undertaking

The ultimate controlling party is Jordan & Lewis Mitchell..