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REGISTERED NUMBER: SC236981 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

W. Mitchell Plumbing & Heating Ltd.

W. Mitchell Plumbing & Heating Ltd. (Registered number: SC236981)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W. Mitchell Plumbing & Heating Ltd.

Company Information
for the Year Ended 31 October 2024







DIRECTORS: W Mitchell
D M Mitchell





REGISTERED OFFICE: 12 Mill Street
Stuartfield
Peterhead
Aberdeenshire
AB42 5DP





REGISTERED NUMBER: SC236981 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

W. Mitchell Plumbing & Heating Ltd. (Registered number: SC236981)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 29,562 10,508

CURRENT ASSETS
Stocks 18,954 3,800
Debtors 5 50,237 55,961
Cash at bank 14,645 20,212
83,836 79,973
CREDITORS
Amounts falling due within one year 6 82,429 73,739
NET CURRENT ASSETS 1,407 6,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,969

16,742

CREDITORS
Amounts falling due after more than one
year

7

(15,608

)

-

PROVISIONS FOR LIABILITIES (5,617 ) (1,996 )
NET ASSETS 9,744 14,746

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 9,694 14,696
SHAREHOLDERS' FUNDS 9,744 14,746

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

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

W. Mitchell Plumbing & Heating Ltd. (Registered number: SC236981)

Balance Sheet - continued
31 October 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2025 and were signed on its behalf by:




W Mitchell - Director



D M Mitchell - Director


W. Mitchell Plumbing & Heating Ltd. (Registered number: SC236981)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

W. Mitchell Plumbing & Heating Ltd. is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stocks & work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

W. Mitchell Plumbing & Heating Ltd. (Registered number: SC236981)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 9,077 35,505 1,394 45,976
Additions 2,105 27,890 - 29,995
Disposals - (15,855 ) - (15,855 )
At 31 October 2024 11,182 47,540 1,394 60,116
DEPRECIATION
At 1 November 2023 6,673 27,701 1,094 35,468
Charge for year 677 8,527 150 9,354
Eliminated on disposal - (14,268 ) - (14,268 )
At 31 October 2024 7,350 21,960 1,244 30,554
NET BOOK VALUE
At 31 October 2024 3,832 25,580 150 29,562
At 31 October 2023 2,404 7,804 300 10,508

W. Mitchell Plumbing & Heating Ltd. (Registered number: SC236981)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 19,650
Additions 27,890
Transfer to ownership (19,650 )
At 31 October 2024 27,890
DEPRECIATION
At 1 November 2023 13,433
Charge for year 6,973
Transfer to ownership (13,433 )
At 31 October 2024 6,973
NET BOOK VALUE
At 31 October 2024 20,917
At 31 October 2023 6,217

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 33,382 43,334
Amounts recoverable on contract 1,500 833
Other debtors 15,355 11,794
50,237 55,961

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 6,937 4,503
Trade creditors 22,648 11,762
Taxation and social security 4,547 7,375
Other creditors 48,297 50,099
82,429 73,739

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 15,608 -