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REGISTERED NUMBER: 10442130 (England and Wales)








Unaudited Financial Statements

For The Year Ended 30 April 2024

for

Mitchell Property Developments Limited

Mitchell Property Developments Limited (Registered number: 10442130)






Contents of the Financial Statements
For The Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Mitchell Property Developments Limited (Registered number: 10442130)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,465 155,035

CURRENT ASSETS
Stocks 2,035,787 1,710,364
Debtors 5 745,282 687,101
Cash at bank 9,520 72,479
2,790,589 2,469,944
CREDITORS
Amounts falling due within one year 6 2,699,655 2,445,297
NET CURRENT ASSETS 90,934 24,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

183,399

179,682

CREDITORS
Amounts falling due after more than one
year

7

(11,667

)

(21,667

)

PROVISIONS FOR LIABILITIES (9,089 ) (38,759 )
NET ASSETS 162,643 119,256

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 162,543 119,156
162,643 119,256

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 director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 January 2025 and were signed by:





S Mitchell - Director


Mitchell Property Developments Limited (Registered number: 10442130)

Notes to the Financial Statements
For The Year Ended 30 April 2024

1. STATUTORY INFORMATION

Mitchell Property Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10442130

Registered office: Strashleigh Farm
Warren Lane
Ivybridge
Devon
PL21 9JP

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.

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 with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for building works, excluding value added tax. Turnover for the sale of land and property is recognised upon exchange of contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Computer equipment - 33% straight line
Furniture and fixtures - 33% straight line

Work in progress
Work in progress is valued at the lower of cost and net realisable value. Work in progress consists of materials, sub contract labour, land, borrowing costs and utilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Mitchell Property Developments Limited (Registered number: 10442130)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 337,861
Additions 1,425
Disposals (75,878 )
At 30 April 2024 263,408
DEPRECIATION
At 1 May 2023 182,826
Charge for year 31,177
Eliminated on disposal (43,060 )
At 30 April 2024 170,943
NET BOOK VALUE
At 30 April 2024 92,465
At 30 April 2023 155,035

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors - 9,328
Amounts owed by group undertakings 548,476 497,194
Other debtors 196,806 180,579
745,282 687,101

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 750,235 750,235
Trade creditors 85,919 127,977
Amounts owed to group undertakings 538,100 178,100
Taxation and social security 218,935 207,091
Other creditors 1,106,466 1,181,894
2,699,655 2,445,297

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 11,667 21,667

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 740,235 740,235

Bank loans are secured by way of a fixed charge over the land and floating charge over all property and undertakings of the company.