Company No:
Contents
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 |
Note | 2024 | 2023 | ||
£ | £ | |||
Current assets | ||||
Debtors | 4 |
|
|
|
Cash at bank and in hand |
|
|
||
10,879 | 23,565 | |||
Creditors: amounts falling due within one year | 5 | (
|
(
|
|
Net current liabilities | (15,035) | (14,421) | ||
Total assets less current liabilities | (15,035) | (14,421) | ||
Net liabilities | (
|
(
|
||
Capital and reserves | ||||
Called-up share capital | 6 |
|
|
|
Profit and loss account | (
|
(
|
||
Total shareholders' deficit | (
|
(
|
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:
Mr J S Mitchell
Director |
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.
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 £.
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. |
|
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 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.
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.
The tax expense represents the sum of the tax currently payable.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2023 |
|
|
|
At 31 March 2024 |
|
|
|
Accumulated depreciation | |||
At 01 April 2023 |
|
|
|
At 31 March 2024 |
|
|
|
Net book value | |||
At 31 March 2024 |
|
|
|
At 31 March 2023 |
|
|
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Amounts owed by directors |
|
|
|
Prepayments |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Amounts owed to directors |
|
|
|
Accruals |
|
|
|
Corporation tax |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
100 | 100 |
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.