IRIS Accounts Production v24.3.2.46 05538826 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055388262023-04-30055388262024-04-30055388262023-05-012024-04-30055388262022-04-30055388262022-05-012023-04-30055388262023-04-3005538826ns15:EnglandWales2023-05-012024-04-3005538826ns14:PoundSterling2023-05-012024-04-3005538826ns10:Director12023-05-012024-04-3005538826ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005538826ns10:SmallEntities2023-05-012024-04-3005538826ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3005538826ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005538826ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005538826ns10:FullAccounts2023-05-012024-04-300553882612023-05-012024-04-3005538826ns10:OrdinaryShareClass12023-05-012024-04-3005538826ns10:Director22023-05-012024-04-3005538826ns10:Director32023-05-012024-04-3005538826ns10:CompanySecretary12023-05-012024-04-3005538826ns10:RegisteredOffice2023-05-012024-04-3005538826ns5:CurrentFinancialInstruments2024-04-3005538826ns5:CurrentFinancialInstruments2023-04-3005538826ns5:Non-currentFinancialInstruments2024-04-3005538826ns5:Non-currentFinancialInstruments2023-04-3005538826ns5:ShareCapital2024-04-3005538826ns5:ShareCapital2023-04-3005538826ns5:RetainedEarningsAccumulatedLosses2024-04-3005538826ns5:RetainedEarningsAccumulatedLosses2023-04-3005538826ns5:NetGoodwill2023-05-012024-04-3005538826ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-05-012024-04-3005538826ns5:FurnitureFittings2023-05-012024-04-3005538826ns5:NetGoodwill2023-04-3005538826ns5:NetGoodwill2024-04-3005538826ns5:NetGoodwill2023-04-3005538826ns5:LandBuildings2023-04-3005538826ns5:FurnitureFittings2023-04-3005538826ns5:LandBuildings2023-05-012024-04-3005538826ns5:LandBuildings2024-04-3005538826ns5:FurnitureFittings2024-04-3005538826ns5:LandBuildings2023-04-3005538826ns5:FurnitureFittings2023-04-3005538826ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3005538826ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3005538826ns5:DeferredTaxation2023-04-3005538826ns5:DeferredTaxation2024-04-3005538826ns10:OrdinaryShareClass12024-04-30
REGISTERED NUMBER: 05538826 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Mistell Limited

Mistell Limited (Registered number: 05538826)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mistell Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A Powell
V Powell
N M Powell





SECRETARY: V Powell





REGISTERED OFFICE: Riverside Park Road
MIDDLESBROUGH
Cleveland
TS2 1QW





REGISTERED NUMBER: 05538826 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Mistell Limited (Registered number: 05538826)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,757,253 2,835,045
Investment property 6 3,790,000 4,965,000
6,547,253 7,800,045

CURRENT ASSETS
Stocks 7 30,262 26,144
Debtors 8 59,855 55,645
Cash at bank 608,166 675,662
698,283 757,451
CREDITORS
Amounts falling due within one year 9 285,909 216,909
NET CURRENT ASSETS 412,374 540,542
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,959,627

8,340,587

CREDITORS
Amounts falling due after more than one
year

10

(4,963,918

)

(4,963,918

)

PROVISIONS FOR LIABILITIES 11 (118,783 ) (151,313 )
NET ASSETS 1,876,926 3,225,356

CAPITAL AND RESERVES
Called up share capital 12 81,000 81,000
Retained earnings 1,795,926 3,144,356
SHAREHOLDERS' FUNDS 1,876,926 3,225,356

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mistell Limited (Registered number: 05538826)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by:





A Powell - Director


Mistell Limited (Registered number: 05538826)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Mistell Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions entered into an normal market terms.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from sale of goods is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred of to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on reducing balance

Freehold Property is held at cost less depreciation and impairment.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in the profit and loss.


Mistell Limited (Registered number: 05538826)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operated a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Income recognition
Turnover is recognised in the period to which it is receivable and to the extent the goods have been provided or, on completion of the service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 156,000
AMORTISATION
At 1 May 2023
and 30 April 2024 156,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

Mistell Limited (Registered number: 05538826)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 May 2023 3,792,136 776,343 4,568,479
Additions - 38,635 38,635
At 30 April 2024 3,792,136 814,978 4,607,114
DEPRECIATION
At 1 May 2023 1,136,920 596,514 1,733,434
Charge for year 75,842 40,585 116,427
At 30 April 2024 1,212,762 637,099 1,849,861
NET BOOK VALUE
At 30 April 2024 2,579,374 177,879 2,757,253
At 30 April 2023 2,655,216 179,829 2,835,045

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 4,965,000
Revaluations (1,175,000 )
At 30 April 2024 3,790,000
NET BOOK VALUE
At 30 April 2024 3,790,000
At 30 April 2023 4,965,000

Investment property comprises properties held for use in operating leases. The fair value of the investment property has been arrived at on the basis of a valuation carried out by a Rics qualified employee. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2022 (15,951 )
Valuation in 2024 (1,175,000 )
Cost 4,980,951
3,790,000

7. STOCKS
2024 2023
£    £   
Stocks 30,262 26,144

Mistell Limited (Registered number: 05538826)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,776 39,006
Other debtors 1,790 8,457
Prepayments and accrued income 24,289 8,182
59,855 55,645

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 72,051 63,279
Taxation and social security 54,088 57,098
Other creditors 33,406 26,933
Accruals and deferred income 126,364 69,599
285,909 216,909

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 4,963,918 4,963,918

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 118,783 151,313

Deferred
tax
£   
Balance at 1 May 2023 151,313
Accelerated capital allowances (32,530 )
Balance at 30 April 2024 118,783

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
81,000 Ordinary 1 81,000 81,000

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Powell by virtue of their shareholding.