2023-04-012024-03-312024-03-31falseSC271832JAMES MITCHELL & SON LTD.2024-10-01iso4217:GBPxbrli:pureSC2718322023-04-01SC2718322024-03-31SC2718322023-04-012024-03-31SC2718322022-04-01SC2718322023-03-31SC2718322022-04-012023-03-31SC271832bus:SmallEntities2023-04-012024-03-31SC271832bus:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC271832bus:AbridgedAccounts2023-04-012024-03-31SC271832bus:PrivateLimitedCompanyLtd2023-04-012024-03-31SC271832core:WithinOneYear2024-03-31SC271832core:AfterOneYear2024-03-31SC271832core:WithinOneYear2023-03-31SC271832core:AfterOneYear2023-03-31SC271832core:ShareCapital2024-03-31SC271832core:SharePremium2024-03-31SC271832core:RevaluationReserve2024-03-31SC271832core:OtherReservesSubtotal2024-03-31SC271832core:RetainedEarningsAccumulatedLosses2024-03-31SC271832core:ShareCapital2023-03-31SC271832core:SharePremium2023-03-31SC271832core:RevaluationReserve2023-03-31SC271832core:OtherReservesSubtotal2023-03-31SC271832core:RetainedEarningsAccumulatedLosses2023-03-31SC271832core:LandBuildings2024-03-31SC271832core:PlantMachinery2024-03-31SC271832core:Vehicles2024-03-31SC271832core:FurnitureFittings2024-03-31SC271832core:OfficeEquipment2024-03-31SC271832core:NetGoodwill2024-03-31SC271832core:IntangibleAssetsOtherThanGoodwill2024-03-31SC271832core:ListedExchangeTraded2024-03-31SC271832core:UnlistedNon-exchangeTraded2024-03-31SC271832core:LandBuildings2023-03-31SC271832core:PlantMachinery2023-03-31SC271832core:Vehicles2023-03-31SC271832core:FurnitureFittings2023-03-31SC271832core:OfficeEquipment2023-03-31SC271832core:NetGoodwill2023-03-31SC271832core:IntangibleAssetsOtherThanGoodwill2023-03-31SC271832core:ListedExchangeTraded2023-03-31SC271832core:UnlistedNon-exchangeTraded2023-03-31SC271832core:LandBuildings2023-04-012024-03-31SC271832core:PlantMachinery2023-04-012024-03-31SC271832core:Vehicles2023-04-012024-03-31SC271832core:FurnitureFittings2023-04-012024-03-31SC271832core:OfficeEquipment2023-04-012024-03-31SC271832core:NetGoodwill2023-04-012024-03-31SC271832core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31SC271832core:ListedExchangeTraded2023-04-012024-03-31SC271832core:UnlistedNon-exchangeTraded2023-04-012024-03-31SC271832core:MoreThanFiveYears2023-04-012024-03-31SC271832core:Non-currentFinancialInstruments2024-03-31SC271832core:Non-currentFinancialInstruments2023-03-31SC271832dpl:CostSales2023-04-012024-03-31SC271832dpl:DistributionCosts2023-04-012024-03-31SC271832core:LandBuildings2023-04-012024-03-31SC271832core:PlantMachinery2023-04-012024-03-31SC271832core:Vehicles2023-04-012024-03-31SC271832core:FurnitureFittings2023-04-012024-03-31SC271832core:OfficeEquipment2023-04-012024-03-31SC271832dpl:AdministrativeExpenses2023-04-012024-03-31SC271832core:NetGoodwill2023-04-012024-03-31SC271832core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31SC271832dpl:GroupUndertakings2023-04-012024-03-31SC271832dpl:ParticipatingInterests2023-04-012024-03-31SC271832dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-31SC271832core:ListedExchangeTraded2023-04-012024-03-31SC271832dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-31SC271832core:UnlistedNon-exchangeTraded2023-04-012024-03-31SC271832dpl:CostSales2022-04-012023-03-31SC271832dpl:DistributionCosts2022-04-012023-03-31SC271832core:LandBuildings2022-04-012023-03-31SC271832core:PlantMachinery2022-04-012023-03-31SC271832core:Vehicles2022-04-012023-03-31SC271832core:FurnitureFittings2022-04-012023-03-31SC271832core:OfficeEquipment2022-04-012023-03-31SC271832dpl:AdministrativeExpenses2022-04-012023-03-31SC271832core:NetGoodwill2022-04-012023-03-31SC271832core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-31SC271832dpl:GroupUndertakings2022-04-012023-03-31SC271832dpl:ParticipatingInterests2022-04-012023-03-31SC271832dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-31SC271832core:ListedExchangeTraded2022-04-012023-03-31SC271832dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-31SC271832core:UnlistedNon-exchangeTraded2022-04-012023-03-31SC271832core:NetGoodwill2024-03-31SC271832core:IntangibleAssetsOtherThanGoodwill2024-03-31SC271832core:LandBuildings2024-03-31SC271832core:PlantMachinery2024-03-31SC271832core:Vehicles2024-03-31SC271832core:FurnitureFittings2024-03-31SC271832core:OfficeEquipment2024-03-31SC271832core:AfterOneYear2024-03-31SC271832core:WithinOneYear2024-03-31SC271832core:ListedExchangeTraded2024-03-31SC271832core:UnlistedNon-exchangeTraded2024-03-31SC271832core:ShareCapital2024-03-31SC271832core:SharePremium2024-03-31SC271832core:RevaluationReserve2024-03-31SC271832core:OtherReservesSubtotal2024-03-31SC271832core:RetainedEarningsAccumulatedLosses2024-03-31SC271832core:NetGoodwill2023-03-31SC271832core:IntangibleAssetsOtherThanGoodwill2023-03-31SC271832core:LandBuildings2023-03-31SC271832core:PlantMachinery2023-03-31SC271832core:Vehicles2023-03-31SC271832core:FurnitureFittings2023-03-31SC271832core:OfficeEquipment2023-03-31SC271832core:AfterOneYear2023-03-31SC271832core:WithinOneYear2023-03-31SC271832core:ListedExc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JAMES MITCHELL & SON LTD.

Registered Number
SC271832
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

JAMES MITCHELL & SON LTD.
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

MITCHELL, Alan William
MITCHELL, James

Registered Address

Afm House
6 Crofthead Road
Prestwick
KA9 1HW

Registered Number

SC271832 (Scotland)
JAMES MITCHELL & SON LTD.
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

ASSETS
Fixed assets
Tangible assets3165,654187,165
165,654187,165
Current assets
Stocks114,292123,562
Debtors492,64813,493
Cash at bank and in hand977,721912,355
1,184,6611,049,410
1,184,6611,049,410
1,350,3151,236,575
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital100100
Profit and loss account376,275346,537
376,375346,637
Liabilities
Creditors amounts falling due within one year5943,742847,919
Provisions for liabilities(30,198)(34,072)
Accruals and deferred income-7,947
1,350,3151,236,575
The financial statements were approved and authorised for issue by the Board of Directors on 1 October 2024, and are signed on its behalf by:
MITCHELL, James
Director
Registered Company No. SC271832
JAMES MITCHELL & SON LTD.
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 Scotland. 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery25-
Fixtures and fittings25-
Vehicles25-
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year32
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23537,947
Additions13,995
At 31 March 24551,942
Depreciation and impairment
At 01 April 23350,782
Charge for year35,506
At 31 March 24386,287
Net book value
At 31 March 24165,654
At 31 March 23187,165
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables84,061-
Other debtors7,22211,476
Prepayments and accrued income1,3652,017
Total92,64813,493
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables92,59364,023
Taxation and social security9,495-
Other creditors767,654783,896
Accrued liabilities and deferred income74,000-
Total943,742847,919
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year
7.Directors advances, credits and guarantees
At 31st March 2024 the company owed Mr J Mitchell (Director) £383,827 (2023: £391,948). This loan is interest free, has no fixed date for repayment and is included in creditors. At 31st March 2024 the company owed Mr A W Mitchell (Director) £383,827 (2023: £391,948). This loan is interest free, has no fixed date for repayment and is included in creditors.