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REGISTERED NUMBER: 00515410 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2023

for

B.L.Mitcham & Son Limited

B.L.Mitcham & Son Limited (Registered number: 00515410)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


B.L.Mitcham & Son Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr B W Mitcham
Mr W J Mitcham





SECRETARY: Mrs K F Henry





REGISTERED OFFICE: The Shrubbery
The Green
Hessett
Bury St Edmunds
Suffolk
IP30 9BE





REGISTERED NUMBER: 00515410 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

B.L.Mitcham & Son Limited (Registered number: 00515410)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 269,022 269,487

CURRENT ASSETS
Stocks 287,418 275,466
Debtors 5 58,764 35,952
Investments 6 18 18
Cash at bank - 20,157
346,200 331,593
CREDITORS
Amounts falling due within one year 7 563,718 587,490
NET CURRENT LIABILITIES (217,518 ) (255,897 )
TOTAL ASSETS LESS CURRENT LIABILITIES 51,504 13,590

CREDITORS
Amounts falling due after more than one
year

8

199,187

209,186
NET LIABILITIES (147,683 ) (195,596 )

CAPITAL AND RESERVES
Called up share capital 10 3,000 3,000
Retained earnings (150,683 ) (198,596 )
SHAREHOLDERS' FUNDS (147,683 ) (195,596 )

B.L.Mitcham & Son Limited (Registered number: 00515410)

Balance Sheet - continued
30 September 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





Mr W J Mitcham - Director


B.L.Mitcham & Son Limited (Registered number: 00515410)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

B.L.Mitcham & Son 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
Having reviewed the projected results and cash flow forecasts of the company the directors are confident that the company will be able to meet its cash obligations in the foreseeable future. Whilst there is always considerable uncertainty in predicting cash flows more than a few months into the future, the directors are confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements on the going concern basis.

Turnover
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax.

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% straight line on buildings
Building and property improvements - 2%-10% straight line
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are a valuation of the cultivations and crops in store at the lower of cost and net realisable value.

B.L.Mitcham & Son Limited (Registered number: 00515410)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs
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.

B.L.Mitcham & Son Limited (Registered number: 00515410)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Current asset investments
Listed investments are shown at the lower of cost and net realisable value.

Impairment
At each reporting date, fixed assets, including tangible fixed assets, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 128,133 424,001 552,134
Additions - 5,692 5,692
Disposals - (4,489 ) (4,489 )
At 30 September 2023 128,133 425,204 553,337
DEPRECIATION
At 1 October 2022 168 282,479 282,647
Charge for year - 6,095 6,095
Eliminated on disposal - (4,427 ) (4,427 )
At 30 September 2023 168 284,147 284,315
NET BOOK VALUE
At 30 September 2023 127,965 141,057 269,022
At 30 September 2022 127,965 141,522 269,487

Land at a cost of £127,964 included above is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,131 18,085
Other debtors 43,633 17,867
58,764 35,952

B.L.Mitcham & Son Limited (Registered number: 00515410)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 18 18

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 91,709 120,552
Trade creditors 195,045 174,065
Other creditors 276,964 292,873
563,718 587,490

Other creditors include an amount owed to a director.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 199,187 209,186

Amounts falling due in more than five years:

Repayable by instalments
Bank loans
due in more than 5 years 147,327 162,285
147,327 162,285

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 76,069 110,105
Bank loans 214,827 219,633
290,896 329,738

The company's bank has a legal charge over the land owned by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,000 Ordinary £1 3,000 3,000