IRIS Accounts Production v24.3.2.46 00384817 Board of Directors 1.1.24 31.12.24 31.12.24 true false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003848172023-12-31003848172024-12-31003848172024-01-012024-12-31003848172022-12-31003848172023-01-012023-12-31003848172023-12-3100384817ns15:EnglandWales2024-01-012024-12-3100384817ns14:PoundSterling2024-01-012024-12-3100384817ns10:Director12024-01-012024-12-3100384817ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3100384817ns10:SmallEntities2024-01-012024-12-3100384817ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3100384817ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3100384817ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3100384817ns10:AbridgedAccounts2024-01-012024-12-3100384817ns10:Director22024-01-012024-12-3100384817ns10:Director32024-01-012024-12-3100384817ns10:CompanySecretary12024-01-012024-12-3100384817ns10:RegisteredOffice2024-01-012024-12-3100384817ns5:CurrentFinancialInstruments2024-12-3100384817ns5:CurrentFinancialInstruments2023-12-3100384817ns5:ShareCapital2024-12-3100384817ns5:ShareCapital2023-12-3100384817ns5:RevaluationReserve2024-12-3100384817ns5:RevaluationReserve2023-12-3100384817ns5:CapitalRedemptionReserve2024-12-3100384817ns5:CapitalRedemptionReserve2023-12-3100384817ns5:RetainedEarningsAccumulatedLosses2024-12-3100384817ns5:RetainedEarningsAccumulatedLosses2023-12-3100384817ns5:LandBuildingsns5:OwnedOrFreeholdAssets2024-01-012024-12-3100384817ns5:PlantMachinery2024-01-012024-12-3100384817ns5:FurnitureFittings2024-01-012024-12-3100384817ns5:MotorVehicles2024-01-012024-12-3100384817ns5:ComputerEquipment2024-01-012024-12-31
REGISTERED NUMBER: 00384817 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2024

for

L. C. Mitchell and Company (Gloucester)
Limited

L. C. Mitchell and Company (Gloucester)
Limited (Registered number: 00384817)






Contents of the Financial Statements
For The Year Ended 31 December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


L. C. Mitchell and Company (Gloucester)
Limited

Company Information
For The Year Ended 31 December 2024







DIRECTORS: G J Leeds
Mrs C Leeds
Mrs S P G Young



SECRETARY: G J Leeds



REGISTERED OFFICE: 88 Bristol Road
Gloucester
Gloucestershire
GL1 5XA



REGISTERED NUMBER: 00384817 (England and Wales)



ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: Lloyds Bank
19 Eastgate Street
Gloucester
GL1 1NU

L. C. Mitchell and Company (Gloucester)
Limited (Registered number: 00384817)

Abridged Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,857,079 1,739,857
Investments 5 1,498 1,498
1,858,577 1,741,355

CURRENT ASSETS
Debtors 315,993 302,148
Cash at bank 1,260,580 1,202,482
1,576,573 1,504,630
CREDITORS
Amounts falling due within one year 172,634 149,403
NET CURRENT ASSETS 1,403,939 1,355,227
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,262,516

3,096,582

PROVISIONS FOR LIABILITIES 65,868 93,477
NET ASSETS 3,196,648 3,003,105

CAPITAL AND RESERVES
Called up share capital 8,600 8,600
Revaluation reserve 276,877 276,877
Capital redemption reserve 70,900 70,900
Retained earnings 2,840,271 2,646,728
SHAREHOLDERS' FUNDS 3,196,648 3,003,105

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

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

L. C. Mitchell and Company (Gloucester)
Limited (Registered number: 00384817)

Abridged Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 March 2025 and were signed on its behalf by:





G J Leeds - Director


L. C. Mitchell and Company (Gloucester)
Limited (Registered number: 00384817)

Notes to the Financial Statements
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

L. C. Mitchell and Company (Gloucester) 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.

Preparation of consolidated financial statements
The financial statements contain information about L. C. Mitchell and Company (Gloucester) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is recognised at the fair value of the consideration for management services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on cost and 20% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Freehold property is initially recognised at cost. Subsequently, freehold property is measured at fair value at the date of revaluation, less any accumulated depreciation and impairment losses, under the revaluation model. Revaluations are carried out regularly, ensuring that the carrying amount does not differ materially from its fair value at the end of each reporting period.

Where the carrying amount of the freehold property is increased as a result of revaluation, the increase is credited to other comprehensive income and recognised in the revaluation reserve within equity.

The company has assessed that the residual value of the freehold property is higher than its carrying amount. As a result, no depreciation is recognised on the freehold property. The assessment of residual value is reviewed regularly to ensure it continues to exceed the carrying amount.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less accumulated impairment losses.

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.

L. C. Mitchell and Company (Gloucester)
Limited (Registered number: 00384817)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Cash and cash equivalents
Cash and cash equivalents 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.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

L. C. Mitchell and Company (Gloucester)
Limited (Registered number: 00384817)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 2,603,373
Additions 332,727
Disposals (37,322 )
At 31 December 2024 2,898,778
DEPRECIATION
At 1 January 2024 863,516
Charge for year 215,505
Eliminated on disposal (37,322 )
At 31 December 2024 1,041,699
NET BOOK VALUE
At 31 December 2024 1,857,079
At 31 December 2023 1,739,857

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2024
and 31 December 2024 1,498
NET BOOK VALUE
At 31 December 2024 1,498
At 31 December 2023 1,498