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Michell & Michell Limited

Annual Report and Unaudited Financial Statements
Period from 1 January 2024 to 31 January 2025

Registration number: 09389795

 

Michell & Michell Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Michell & Michell Limited

Balance Sheet

31 January 2025

Note

2025
£

2023
£

Fixed assets

 

Tangible assets

4

-

7,520

Current assets

 

Debtors

5

64

3,427

Cash at bank and in hand

 

6,036

17,580

 

6,100

21,007

Creditors: Amounts falling due within one year

6

(1,831)

(10,685)

Net current assets

 

4,269

10,322

Total assets less current liabilities

 

4,269

17,842

Provisions for liabilities

-

(1,756)

Net assets

 

4,269

16,086

Capital and reserves

 

Called up share capital

7

200

200

Profit and loss account

4,069

15,886

Shareholders' funds

 

4,269

16,086

 

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 Board on 24 April 2025 and signed on its behalf by:
 

.........................................
Mrs E B J Michell
Director

.........................................
Mr J N Michell
Director

Company Registration Number: 09389795

 

Michell & Michell Limited

Notes to the Unaudited Financial Statements

Period from 1 January 2024 to 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Lowin House
Tregolls Road
Cornwall
TRURO

These financial statements were authorised for issue by the Board on 24 April 2025.

2

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
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

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.



 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2023 - 1).

 

Michell & Michell Limited

Notes to the Unaudited Financial Statements

Period from 1 January 2024 to 31 January 2025

4

Tangible assets

Office equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

13,247

4,583

17,830

Disposals

(13,247)

(4,583)

(17,830)

At 31 January 2025

-

-

-

Depreciation

At 1 January 2024

7,177

3,133

10,310

Eliminated on disposal

(7,177)

(3,133)

(10,310)

At 31 January 2025

-

-

-

Carrying amount

At 31 January 2025

-

-

-

At 31 December 2023

6,070

1,450

7,520

5

Debtors

2025
£

2023
£

Other debtors

64

3,427

64

3,427

 

Michell & Michell Limited

Notes to the Unaudited Financial Statements

Period from 1 January 2024 to 31 January 2025

6

Creditors

Creditors: amounts falling due within one year

2025
£

2023
£

Due within one year

Taxation and social security

425

-

Accruals and deferred income

1,400

1,800

Other creditors

6

8,885

1,831

10,685

7

Share capital

Allotted, called up and fully paid shares

2025

2023

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

100

100

100

100

200

200

200

200