2023-04-012024-03-312024-03-31false05157494MITCHELL & CO BUILDING SERVICES 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MITCHELL & CO BUILDING SERVICES LIMITED

Registered Number
05157494
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MITCHELL & CO BUILDING SERVICES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

STAFFORD, Christopher William

Company Secretary

STAFFORD, Christopher William

Registered Address

Unit 19 Dragon Court
Crofts End Road
Bristol
BS5 7XX

Registered Number

05157494 (England and Wales)
MITCHELL & CO BUILDING SERVICES LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3116,53431,167
116,53431,167
Current assets
Stocks-150,000
Debtors973,927963,760
Cash at bank and on hand240,325769,399
1,214,2521,883,159
Creditors amounts falling due within one year(272,474)(618,324)
Net current assets (liabilities)941,7781,264,835
Total assets less current liabilities1,058,3121,296,002
Provisions for liabilities(29,134)(7,792)
Net assets1,029,1781,288,210
Capital and reserves
Called up share capital2625
Profit and loss account1,029,1521,288,185
Shareholders' funds1,029,1781,288,210
The financial statements were approved and authorised for issue by the Director on 2 October 2024, and are signed on its behalf by:
STAFFORD, Christopher William
Director
Registered Company No. 05157494
MITCHELL & CO BUILDING SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Fixtures and fittings-3
Vehicles25-
Stocks and work in progress
Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year88
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2399,332
Additions105,249
At 31 March 24204,581
Depreciation and impairment
At 01 April 2368,164
Charge for year19,883
At 31 March 2488,047
Net book value
At 31 March 24116,534
At 31 March 2331,167
4.Related party transactions
Mr C W Stafford is also a director of JOI Properties Limited. During the year, repayments totalling £18,000 (2023 - £9,000) were made to the existing loan with JOI Properties Limited. At the year end JOI Properties Limited owed the company £402,953 (2023 - 381,500) Interest of has been charged at 5.16% on the loan balance outstanding at year end (2023 - 5.16%)