Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mrs G E Mitchell 11/10/2012 Mr J S Mitchell 11/10/2012 25 February 2025 The principal activity of the company during the period was the provision of financial consultancy services. 08248756 2024-03-31 08248756 bus:Director1 2024-03-31 08248756 bus:Director2 2024-03-31 08248756 core:CurrentFinancialInstruments 2024-03-31 08248756 core:CurrentFinancialInstruments 2023-03-31 08248756 2023-03-31 08248756 core:ShareCapital 2024-03-31 08248756 core:ShareCapital 2023-03-31 08248756 core:RetainedEarningsAccumulatedLosses 2024-03-31 08248756 core:RetainedEarningsAccumulatedLosses 2023-03-31 08248756 core:OtherPropertyPlantEquipment 2023-03-31 08248756 core:OtherPropertyPlantEquipment 2024-03-31 08248756 bus:OrdinaryShareClass1 2024-03-31 08248756 bus:OrdinaryShareClass2 2024-03-31 08248756 2023-04-01 2024-03-31 08248756 bus:FilletedAccounts 2023-04-01 2024-03-31 08248756 bus:SmallEntities 2023-04-01 2024-03-31 08248756 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08248756 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08248756 bus:Director1 2023-04-01 2024-03-31 08248756 bus:Director2 2023-04-01 2024-03-31 08248756 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 08248756 2022-04-01 2023-03-31 08248756 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08248756 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08248756 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 08248756 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08248756 (England and Wales)

J S MITCHELL LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

J S MITCHELL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

J S MITCHELL LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
J S MITCHELL LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
DIRECTORS Mrs G E Mitchell
Mr J S Mitchell
REGISTERED OFFICE 264 Banbury Road
Oxford
OX2 7DY
United Kingdom
COMPANY NUMBER 08248756 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
England
J S MITCHELL LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
J S MITCHELL LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Current assets
Debtors 4 9,667 21,357
Cash at bank and in hand 1,212 2,208
10,879 23,565
Creditors: amounts falling due within one year 5 ( 25,914) ( 37,986)
Net current liabilities (15,035) (14,421)
Total assets less current liabilities (15,035) (14,421)
Net liabilities ( 15,035) ( 14,421)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 15,135 ) ( 14,521 )
Total shareholders' deficit ( 15,035) ( 14,421)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of J S Mitchell Limited (registered number: 08248756) were approved and authorised for issue by the Board of Directors on 25 February 2025. They were signed on its behalf by:

Mr J S Mitchell
Director
J S MITCHELL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
J S MITCHELL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J S Mitchell Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, OX2 7DY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown exclusive of VAT.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 669 669
At 31 March 2024 669 669
Accumulated depreciation
At 01 April 2023 669 669
At 31 March 2024 669 669
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Debtors

2024 2023
£ £
Trade debtors 9,322 10,694
Amounts owed by directors 0 10,367
Prepayments 345 296
9,667 21,357

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 85 0
Accruals 4,401 3,601
Corporation tax 6,102 24,092
Other taxation and social security 14,726 10,293
Other creditors 600 0
25,914 37,986

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
75 A ordinary shares of £ 1.00 each 75 75
25 B ordinary shares of £ 1.00 each 25 25
100 100

7. Related party transactions

Transactions with the entity's directors

During the year the company paid dividends of £25,700 (2023: £43,300). In addition, remuneration of £54,430 (2023: £23,816) was paid to directors.

At the year end the company owed the directors £85 (2023: £10,367 owed to the company). Interest has been charged on this amount at the official rate totalling £918 (2023: £122) and there is no fixed date for repayment.