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Registration number: 00557048

Arthur Mitchell Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 October 2023

 

Arthur Mitchell Limited

(Registration number: 00557048)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

9,408

11,310

Current assets

 

Stocks

5

-

40,376

Debtors

6

102,052

57,656

Cash at bank and in hand

 

3,813

29,116

 

105,865

127,148

Creditors: Amounts falling due within one year

7

(8,857)

(48,630)

Net current assets

 

97,008

78,518

Total assets less current liabilities

 

106,416

89,828

Provisions for liabilities

-

(1,182)

Net assets

 

106,416

88,646

Capital and reserves

 

Called up share capital

7,050

7,050

Profit and loss account

99,366

81,596

Shareholders' funds

 

106,416

88,646

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 director has not delivered to the registrar a copy of the Income Statement.

 

Arthur Mitchell Limited

(Registration number: 00557048)
Statement of Financial Position as at 31 October 2023

Approved and authorised by the director on 30 October 2024
 

.........................................
Miss S Mitchell
Director

 

Arthur Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

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 financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

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

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 statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

 

Arthur Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Asset class

Depreciation method and rate

Land and buildings

10% reducing balance (buildings only)

Leasehold properties

straight line over the life of the lease

Plant and machinery

20% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Arthur Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

20,540

44,884

873

29,478

95,775

Additions

-

-

-

727

727

At 31 October 2023

20,540

44,884

873

30,205

96,502

Depreciation

At 1 November 2022

20,315

40,021

836

23,293

84,465

Charge for the year

23

1,215

9

1,382

2,629

At 31 October 2023

20,338

41,236

845

24,675

87,094

Carrying amount

At 31 October 2023

202

3,648

28

5,530

9,408

At 31 October 2022

225

4,863

37

6,185

11,310

5

Stocks

2023
£

2022
£

Raw materials and consumables

-

40,376

6

Debtors

2023
£

2022
£

Trade debtors

22,402

18,022

Other debtors

79,650

39,634

102,052

57,656

 

Arthur Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

22

4,279

Taxation and social security

3,663

-

Accruals and deferred income

5,172

44,139

Other creditors

-

212

8,857

48,630

8

Related party transactions

Transactions with the director

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

Miss S Mitchell

-

44,998

44,998

The loan is unsecured and repayable on demand. No interest was charged on the loan during the year.