IRIS Accounts Production v24.2.0.383 00654311 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh006543112023-03-31006543112024-03-31006543112023-04-012024-03-31006543112022-03-31006543112022-04-012023-03-31006543112023-03-3100654311ns15:EnglandWales2023-04-012024-03-3100654311ns14:PoundSterling2023-04-012024-03-3100654311ns10:Director12023-04-012024-03-3100654311ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3100654311ns10:SmallEntities2023-04-012024-03-3100654311ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3100654311ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100654311ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100654311ns10:FullAccounts2023-04-012024-03-3100654311ns10:OrdinaryShareClass12023-04-012024-03-3100654311ns10:Director22023-04-012024-03-3100654311ns10:Director32023-04-012024-03-3100654311ns10:CompanySecretary12023-04-012024-03-3100654311ns10:RegisteredOffice2023-04-012024-03-3100654311ns5:CurrentFinancialInstruments2024-03-3100654311ns5:CurrentFinancialInstruments2023-03-3100654311ns5:ShareCapital2024-03-3100654311ns5:ShareCapital2023-03-3100654311ns5:RetainedEarningsAccumulatedLosses2024-03-3100654311ns5:RetainedEarningsAccumulatedLosses2023-03-3100654311ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3100654311ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3100654311ns5:MotorVehicles2023-04-012024-03-3100654311ns5:LandBuildings2023-03-3100654311ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3100654311ns5:MotorVehicles2023-03-3100654311ns5:LandBuildings2023-04-012024-03-3100654311ns5:LandBuildings2024-03-3100654311ns5:LongLeaseholdAssetsns5:LandBuildings2024-03-3100654311ns5:MotorVehicles2024-03-3100654311ns5:LandBuildings2023-03-3100654311ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3100654311ns5:MotorVehicles2023-03-3100654311ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3100654311ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3100654311ns5:DeferredTaxation2023-03-3100654311ns5:DeferredTaxation2023-04-012024-03-3100654311ns5:DeferredTaxation2024-03-3100654311ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 00654311 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Tom Mitchell (Cornwall) Limited

Tom Mitchell (Cornwall) Limited (Registered number: 00654311)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Tom Mitchell (Cornwall) Limited

COMPANY INFORMATION
for the year ended 31 March 2024







Directors: Mr A Mitchell
Mr W T Mitchell
Mrs G Mitchell





Secretary: Mrs G Mitchell





Registered office: Old Park
Liskeard
Cornwall
PL14 6RB





Registered number: 00654311 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Tom Mitchell (Cornwall) Limited (Registered number: 00654311)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 835,600 885,085

Current assets
Stocks 11,800 10,658
Debtors 5 401,025 272,845
Cash at bank 2,074,957 1,778,766
2,487,782 2,062,269
Creditors
Amounts falling due within one year 6 535,516 291,897
Net current assets 1,952,266 1,770,372
Total assets less current liabilities 2,787,866 2,655,457

Provisions for liabilities 7 36,900 34,600
Net assets 2,750,966 2,620,857

Capital and reserves
Called up share capital 8 476 476
Retained earnings 2,750,490 2,620,381
Shareholders' funds 2,750,966 2,620,857

Tom Mitchell (Cornwall) Limited (Registered number: 00654311)

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Mr W T Mitchell - Director


Tom Mitchell (Cornwall) Limited (Registered number: 00654311)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Tom Mitchell (Cornwall) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the company information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods which is recognised upon delivery to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on buildings and 0% on land
Long leasehold - Straight line over 50 years
Vehicles and machinery - 20% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Tom Mitchell (Cornwall) Limited (Registered number: 00654311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Vehicles
Freehold Long and
property leasehold machinery Totals
£    £    £    £   
Cost
At 1 April 2023 579,377 283,250 441,928 1,304,555
Additions - - 6,666 6,666
Disposals - - (37,450 ) (37,450 )
At 31 March 2024 579,377 283,250 411,144 1,273,771
Depreciation
At 1 April 2023 76,029 83,610 259,831 419,470
Charge for year 9,606 5,665 34,983 50,254
Eliminated on disposal - - (31,553 ) (31,553 )
At 31 March 2024 85,635 89,275 263,261 438,171
Net book value
At 31 March 2024 493,742 193,975 147,883 835,600
At 31 March 2023 503,348 199,640 182,097 885,085

Tom Mitchell (Cornwall) Limited (Registered number: 00654311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Included in cost of land and buildings is freehold land of £ 99,100 (2023 - £ 99,100 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 369,921 245,188
Other debtors 31,104 27,657
401,025 272,845

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 230,355 96,791
Taxation and social security 83,197 36
Other creditors 221,964 195,070
535,516 291,897

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 36,900 34,600

Deferred
tax
£   
Balance at 1 April 2023 34,600
Provided during year 2,300
Balance at 31 March 2024 36,900

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
476 Ordinary shares £1 476 476

Tom Mitchell (Cornwall) Limited (Registered number: 00654311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. RELATED PARTY DISCLOSURES

At the balance sheet date the following amounts were owed to related parties : -

£
W T Mitchell (director and shareholder) 70,149
A Mitchell (director and shareholder) 83,046
G Mitchell (director and shareholder) 53,853

These amounts were unsecured, interest free and carried no fixed term of repayment.