Period from 1 January 2024 to
Registration number:
Michell & Michell Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Michell & Michell Limited
Balance Sheet
31 January 2025
Note |
2025 |
2023 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Michell & Michell Limited
Balance Sheet
31 January 2025
For the financial period ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 09389795
Michell & Michell Limited
Notes to the Unaudited Financial Statements
Period from 1 January 2024 to 31 January 2025
General information |
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Michell & Michell Limited
Notes to the Unaudited Financial Statements
Period from 1 January 2024 to 31 January 2025
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% reducing balance |
Michell & Michell Limited
Notes to the Unaudited Financial Statements
Period from 1 January 2024 to 31 January 2025
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Michell & Michell Limited
Notes to the Unaudited Financial Statements
Period from 1 January 2024 to 31 January 2025
Tangible assets |
Office equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Disposals |
( |
( |
( |
At 31 January 2025 |
- |
- |
- |
Depreciation |
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At 1 January 2024 |
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Eliminated on disposal |
( |
( |
( |
At 31 January 2025 |
- |
- |
- |
Carrying amount |
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At 31 January 2025 |
- |
- |
- |
At 31 December 2023 |
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Debtors |
2025 |
2023 |
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Other debtors |
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Michell & Michell Limited
Notes to the Unaudited Financial Statements
Period from 1 January 2024 to 31 January 2025
Creditors |
Creditors: amounts falling due within one year
2025 |
2023 |
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Due within one year |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2025 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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100 |
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100 |
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