Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 03455966 Mr John Mitchell Mr Timothy Mitchell Mrs Ann Mitchell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03455966 2023-02-28 03455966 2024-02-29 03455966 2023-03-01 2024-02-29 03455966 frs-core:CurrentFinancialInstruments 2024-02-29 03455966 frs-core:Non-currentFinancialInstruments 2024-02-29 03455966 frs-core:ComputerEquipment 2024-02-29 03455966 frs-core:ComputerEquipment 2023-03-01 2024-02-29 03455966 frs-core:ComputerEquipment 2023-02-28 03455966 frs-core:FurnitureFittings 2024-02-29 03455966 frs-core:FurnitureFittings 2023-03-01 2024-02-29 03455966 frs-core:FurnitureFittings 2023-02-28 03455966 frs-core:MotorVehicles 2024-02-29 03455966 frs-core:MotorVehicles 2023-03-01 2024-02-29 03455966 frs-core:MotorVehicles 2023-02-28 03455966 frs-core:PlantMachinery 2024-02-29 03455966 frs-core:PlantMachinery 2023-03-01 2024-02-29 03455966 frs-core:PlantMachinery 2023-02-28 03455966 frs-core:ShareCapital 2024-02-29 03455966 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 03455966 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03455966 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 03455966 frs-bus:SmallEntities 2023-03-01 2024-02-29 03455966 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03455966 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 03455966 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 03455966 frs-bus:OrdinaryShareClass1 2024-02-29 03455966 frs-bus:OrdinaryShareClass2 2023-03-01 2024-02-29 03455966 frs-bus:OrdinaryShareClass2 2024-02-29 03455966 frs-bus:Director1 2023-03-01 2024-02-29 03455966 frs-bus:Director2 2023-03-01 2024-02-29 03455966 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 03455966 frs-countries:EnglandWales 2023-03-01 2024-02-29 03455966 2022-02-28 03455966 2023-02-28 03455966 2022-03-01 2023-02-28 03455966 frs-core:CurrentFinancialInstruments 2023-02-28 03455966 frs-core:Non-currentFinancialInstruments 2023-02-28 03455966 frs-core:ShareCapital 2023-02-28 03455966 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 03455966 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28 03455966 frs-bus:OrdinaryShareClass2 2022-03-01 2023-02-28
Registered number: 03455966
Mitchell Access Control Systems Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03455966
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 62,894 64,111
62,894 64,111
CURRENT ASSETS
Stocks 5 46,500 49,225
Debtors 6 147,761 121,212
Cash at bank and in hand - 45
194,261 170,482
Creditors: Amounts Falling Due Within One Year 7 (225,733 ) (205,467 )
NET CURRENT ASSETS (LIABILITIES) (31,472 ) (34,985 )
TOTAL ASSETS LESS CURRENT LIABILITIES 31,422 29,126
Creditors: Amounts Falling Due After More Than One Year 8 (10,484 ) (18,429 )
NET ASSETS 20,938 10,697
CAPITAL AND RESERVES
Called up share capital 9 11 11
Profit and Loss Account 20,927 10,686
SHAREHOLDERS' FUNDS 20,938 10,697
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Mitchell
Director
25 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mitchell Access Control Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03455966 . The registered office is Unit 10, Vaux Road, Wellingborough, Northamptonshire, NN8 4TG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 16 (2023: 16)
16 16
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 52,210 227,478 17,280 24,432 321,400
Additions - 24,850 - 995 25,845
Disposals - (27,844 ) - - (27,844 )
As at 29 February 2024 52,210 224,484 17,280 25,427 319,401
Depreciation
As at 1 March 2023 47,577 169,220 16,862 23,630 257,289
Provided during the period 927 19,169 84 449 20,629
Disposals - (21,411 ) - - (21,411 )
As at 29 February 2024 48,504 166,978 16,946 24,079 256,507
Net Book Value
As at 29 February 2024 3,706 57,506 334 1,348 62,894
As at 1 March 2023 4,633 58,258 418 802 64,111
5. Stocks
2024 2023
£ £
Materials 24,500 24,625
Work in progress 22,000 24,600
46,500 49,225
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 143,346 119,112
Other debtors 4,415 2,100
147,761 121,212
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 87,898 75,330
Bank loans and overdrafts 10,278 8,000
Other loans 21,277 20,987
Other creditors 18,153 14,431
Taxation and social security 88,127 86,719
225,733 205,467
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,484 18,429
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
10 Ordinary Shares of £ 1.000 each 10 10
1 Ordinary A shares of £ 1.000 each 1 1
11 11
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr John Mitchell 1,500 3,500
Mr Timothy Mitchell 1,000 1,600
Page 5