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REGISTERED NUMBER: 09829143 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 December 2023

for

John Mitchell Fine Paintings Ltd

John Mitchell Fine Paintings Ltd (Registered number: 09829143)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 5

John Mitchell Fine Paintings Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W J Mitchell
J F Mitchell





REGISTERED OFFICE: 26 High Street
Rickmansworth
Hertfordshire
WD3 1ER





REGISTERED NUMBER: 09829143 (England and Wales)





ACCOUNTANTS: Lee Accounting Services 2018 Limited
Trading as Lee & Co
26 High Street
Rickmansworth
Hertfordshire
WD3 1ER

John Mitchell Fine Paintings Ltd (Registered number: 09829143)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,627 5,785

CURRENT ASSETS
Stocks 452,905 459,793
Debtors 5 17,777 24,588
Cash at bank 395,663 319,220
866,345 803,601
CREDITORS
Amounts falling due within one year 6 578,409 519,863
NET CURRENT ASSETS 287,936 283,738
TOTAL ASSETS LESS CURRENT LIABILITIES 292,563 289,523

PROVISIONS FOR LIABILITIES 881 1,101
NET ASSETS 291,682 288,422

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 291,482 288,222
SHAREHOLDERS' FUNDS 291,682 288,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 26 September 2024 and were signed on its behalf by:





J F Mitchell - Director


John Mitchell Fine Paintings Ltd (Registered number: 09829143)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

John Mitchell Fine Paintings Ltd 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 received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

John Mitchell Fine Paintings Ltd (Registered number: 09829143)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 28,306
DEPRECIATION
At 1 January 2023 22,521
Charge for year 1,158
At 31 December 2023 23,679
NET BOOK VALUE
At 31 December 2023 4,627
At 31 December 2022 5,785

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 17,777 24,588

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 12
Trade creditors 115,037 55,099
Taxation and social security 65,769 65,311
Other creditors 397,603 399,441
578,409 519,863

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 A Ordinary £1 100 100
100 B Ordinary £1 100 100
200 200

John Mitchell Fine Paintings Ltd

Report of the Accountants to the Directors of
John Mitchell Fine Paintings Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lee Accounting Services 2018 Limited
Trading as Lee & Co
26 High Street
Rickmansworth
Hertfordshire
WD3 1ER


26 September 2024