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Registered number: 09780828
Mitchell's Ventilation Services Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09780828
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,049 2,405
32,049 2,405
CURRENT ASSETS
Debtors 5 839,611 704,571
Cash at bank and in hand 112,105 171,182
951,716 875,753
Creditors: Amounts Falling Due Within One Year 6 (214,202 ) (240,517 )
NET CURRENT ASSETS (LIABILITIES) 737,514 635,236
TOTAL ASSETS LESS CURRENT LIABILITIES 769,563 637,641
NET ASSETS 769,563 637,641
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 769,463 637,541
SHAREHOLDERS' FUNDS 769,563 637,641
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Page 2
For the year ending 30 September 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
L Mitchell
Director
14/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mitchell's Ventilation Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09780828 . The registered office is 3 Park Mews, Manor Road, Farnley Tyas, Huddersfield, West Yorkshire, HD4 6BX.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 33% Straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 6,164 - 5,137 5,792 17,093
Additions - 39,980 - 831 40,811
As at 30 September 2024 6,164 39,980 5,137 6,623 57,904
Depreciation
As at 1 October 2023 4,806 - 4,090 5,792 14,688
Provided during the period 340 9,995 555 277 11,167
As at 30 September 2024 5,146 9,995 4,645 6,069 25,855
Net Book Value
As at 30 September 2024 1,018 29,985 492 554 32,049
As at 1 October 2023 1,358 - 1,047 - 2,405
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 344,824 207,023
Other debtors 494,787 497,548
839,611 704,571
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 44,338 71,778
Other creditors 85,239 90,730
Taxation and social security 84,625 78,009
214,202 240,517
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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