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REGISTERED NUMBER: 06527386 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 May 2024

for

MITCHELLS GRIEVSON LIMITED

MITCHELLS GRIEVSON LIMITED (REGISTERED NUMBER: 06527386)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MITCHELLS GRIEVSON LIMITED

Company Information
for the year ended 31 May 2024







DIRECTORS: N Rea
P N Harnby





REGISTERED OFFICE: Kensington House
3, Kensington
Bishop Auckland
Co. Durham
DL14 6HX





REGISTERED NUMBER: 06527386 (England and Wales)






MITCHELLS GRIEVSON LIMITED (REGISTERED NUMBER: 06527386)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 76,667 96,667
Tangible assets 5 361,625 393,056
438,292 489,723

CURRENT ASSETS
Stocks and Work in progress 126,535 136,235
Debtors 6 67,125 76,139
Cash in hand 205 267
193,865 212,641
CREDITORS
Amounts falling due within one year 7 164,934 187,021
NET CURRENT ASSETS 28,931 25,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

467,223

515,343

CREDITORS
Amounts falling due after more than one year 8 368,626 373,991
NET ASSETS 98,597 141,352

CAPITAL AND RESERVES
Called up share capital 600 600
Retained earnings 97,997 140,752
SHAREHOLDERS' FUNDS 98,597 141,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

MITCHELLS GRIEVSON LIMITED (REGISTERED NUMBER: 06527386)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:




P N Harnby - Director



N Rea - Director


MITCHELLS GRIEVSON LIMITED (REGISTERED NUMBER: 06527386)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Mitchells Grievson 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - Nil
Plant and machinery etc - 20% on cost and 20% on reducing balance

Work in progress
Work in progress is valued in accordance with UITF abstract 40.

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.

MITCHELLS GRIEVSON LIMITED (REGISTERED NUMBER: 06527386)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 400,000
AMORTISATION
At 1 June 2023 303,333
Charge for year 20,000
At 31 May 2024 323,333
NET BOOK VALUE
At 31 May 2024 76,667
At 31 May 2023 96,667

MITCHELLS GRIEVSON LIMITED (REGISTERED NUMBER: 06527386)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 252,770 283,005 535,775
Additions - 8,576 8,576
At 31 May 2024 252,770 291,581 544,351
DEPRECIATION
At 1 June 2023 - 142,719 142,719
Charge for year - 40,007 40,007
At 31 May 2024 - 182,726 182,726
NET BOOK VALUE
At 31 May 2024 252,770 108,855 361,625
At 31 May 2023 252,770 140,286 393,056

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 168,407
DEPRECIATION
At 1 June 2023 54,086
Charge for year 28,580
At 31 May 2024 82,666
NET BOOK VALUE
At 31 May 2024 85,741
At 31 May 2023 114,321

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 67,125 62,557
Other debtors - 13,582
67,125 76,139

MITCHELLS GRIEVSON LIMITED (REGISTERED NUMBER: 06527386)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 44,000 39,664
Hire purchase contracts 16,426 19,547
Trade creditors 4,786 12,565
Taxation and social security 84,842 106,325
Other creditors 14,880 8,920
164,934 187,021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 112,740 98,948
Hire purchase contracts 84,248 100,674
Other creditors 171,638 174,369
368,626 373,991

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by
instalments - 6,148
- 6,148

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 100,674 120,221
Bank loans and overdrafts 249,397 270,612
350,071 390,833

The above debts are secured by way of a fixed and floating charge over the assets of the company.