IRIS Accounts Production v25.1.0.734 01965059 director 1.12.23 30.11.24 30.11.24 false true false false true false Fair value model Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh019650592023-11-30019650592024-11-30019650592023-12-012024-11-30019650592022-11-30019650592022-12-012023-11-30019650592023-11-3001965059ns15:EnglandWales2023-12-012024-11-3001965059ns14:PoundSterling2023-12-012024-11-3001965059ns10:Director12023-12-012024-11-3001965059ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3001965059ns10:SmallEntities2023-12-012024-11-3001965059ns10:AuditExempt-NoAccountantsReport2023-12-012024-11-3001965059ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3001965059ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3001965059ns10:FullAccounts2023-12-012024-11-3001965059ns10:OrdinaryShareClass12023-12-012024-11-3001965059ns5:CurrentFinancialInstruments2024-11-3001965059ns5:CurrentFinancialInstruments2023-11-3001965059ns5:ShareCapital2024-11-3001965059ns5:ShareCapital2023-11-3001965059ns5:RevaluationReserve2024-11-3001965059ns5:RevaluationReserve2023-11-3001965059ns5:RetainedEarningsAccumulatedLosses2024-11-3001965059ns5:RetainedEarningsAccumulatedLosses2023-11-3001965059ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3001965059ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3001965059ns10:OrdinaryShareClass12024-11-3001965059ns5:RevaluationReserve2023-11-30
REGISTERED NUMBER: 01965059 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

William T. Mitchell Limited

William T. Mitchell Limited (Registered number: 01965059)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2024




Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 5


William T. Mitchell Limited (Registered number: 01965059)

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £    £   
Fixed assets
Investment property 4 700,895 700,895

Current assets
Debtors 5 - 1,600
Cash at bank 82,769 57,926
82,769 59,526
Creditors
Amounts falling due within one year 6 124,076 117,447
Net current liabilities (41,307 ) (57,921 )
Total assets less current liabilities 659,588 642,974

Provisions for liabilities 56,600 56,600
Net assets 602,988 586,374

Capital and reserves
Called up share capital 7 100 100
Revaluation reserve 8 232,361 232,361
Profit & loss account 370,527 353,913
Shareholders' funds 602,988 586,374

William T. Mitchell Limited (Registered number: 01965059)

BALANCE SHEET - continued
30 November 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 April 2025 and were signed by:





Mr W T Mitchell - Director


William T. Mitchell Limited (Registered number: 01965059)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2024

1. STATUTORY INFORMATION

WIlliam T.Mitchell 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents gross rents receivable from the letting of freehold properties as adjusted for amounts in advance or arrears at the balance sheet date.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

William T. Mitchell Limited (Registered number: 01965059)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 December 2023
and 30 November 2024 700,895
Net book value
At 30 November 2024 700,895
At 30 November 2023 700,895

Fair value at 30 November 2024 is represented by:

£
Valuation in 2019 560,000
Cost 140,895
700,895

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£ £
Cost 411,934 411,934

The directors have reviewed the investment property and deemed the valuation on 30 November 2019 as an appropriate valuation on the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 1,600

William T. Mitchell Limited (Registered number: 01965059)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 4,024 3,476
Other creditors 120,052 113,971
124,076 117,447

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

8. RESERVES
Revaluation
reserve
£   
At 1 December 2023
and 30 November 2024 232,361

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £118,404 to W T Mitchell, the sole director. This amount was interest free, unsecured and carries no fixed term of repayment.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr W T Mitchell.