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REGISTERED NUMBER: 04128451 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

MITCHELLS POTATOES (SOMERSET) LTD

MITCHELLS POTATOES (SOMERSET) LTD (REGISTERED NUMBER: 04128451)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MITCHELLS POTATOES (SOMERSET) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: D N Mitchell
Mrs A P Mitchell
J D Mitchell





SECRETARY: Mrs A P Mitchell





REGISTERED OFFICE: Orchard Farm
Hillcommon
Taunton
Somerset
TA4 1DW





REGISTERED NUMBER: 04128451 (England and Wales)





ACCOUNTANTS: Mitchells Chartered Accountants
St. John's House,
Castle Street,
Taunton
Somerset
TA1 4AY

MITCHELLS POTATOES (SOMERSET) LTD (REGISTERED NUMBER: 04128451)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 279,484 240,966
279,484 240,966

CURRENT ASSETS
Debtors 6 87,490 50,013
Cash at bank 198,475 196,500
285,965 246,513
CREDITORS
Amounts falling due within one year 7 173,073 160,060
NET CURRENT ASSETS 112,892 86,453
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,376

327,419

CAPITAL AND RESERVES
Called up share capital 9 450 450
Share premium 10 8,600 8,600
Retained earnings 10 383,326 318,369
SHAREHOLDERS' FUNDS 392,376 327,419

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.

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 Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:



D N Mitchell - Director


MITCHELLS POTATOES (SOMERSET) LTD (REGISTERED NUMBER: 04128451)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Mitchells Potatoes (Somerset) Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets
In 2006, the company took out a 3 year lease on part of the property known as St. John's House, Castle Street, Taunton. The lease was amortised in three instalments to write it off over it's useful economic life.

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 etc - 15% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

MITCHELLS POTATOES (SOMERSET) LTD (REGISTERED NUMBER: 04128451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 2,291
AMORTISATION
At 1 May 2023
and 30 April 2024 2,291
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 559,586
Additions 112,593
At 30 April 2024 672,179
DEPRECIATION
At 1 May 2023 318,620
Charge for year 74,075
At 30 April 2024 392,695
NET BOOK VALUE
At 30 April 2024 279,484
At 30 April 2023 240,966

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 83,915 44,697
Other debtors 3,575 5,316
87,490 50,013

MITCHELLS POTATOES (SOMERSET) LTD (REGISTERED NUMBER: 04128451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 30,753 95,597
Trade creditors 134,946 53,451
Taxation and social security 7,374 11,012
173,073 160,060

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdraft - 55,106

The bank overdraft is secured by an unlimited debenture over all of the company's assets dated 03.07.2018.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
300 Ordinary £1 300 300
25 Ordinary A £1 25 25
25 Ordinary B £1 25 25
25 Ordinary C £1 25 25
25 Ordinary D £1 25 25
25 Ordinary E £1 25 25
25 Ordinary F £1 25 25
450 450

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 May 2023 318,369 8,600 326,969
Profit for the year 69,957 69,957
Dividends (5,000 ) (5,000 )
At 30 April 2024 383,326 8,600 391,926

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 (2023 - £4,000) were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D N Mitchell.

The ultimate controlling party is a director and shareholder.