GREG MITCHELL MOTORS LTD

Company Registration Number:
NI065247 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 January 2025

Period of accounts

Start date: 01 February 2024

End date: 31 January 2025

GREG MITCHELL MOTORS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2025

Balance sheet
Notes

GREG MITCHELL MOTORS LTD

Balance sheet

As at 31 January 2025


Notes

2025

2024


£

£
Fixed assets
Intangible assets: 3 45,000 60,000
Tangible assets: 4 520,760 559,175
Total fixed assets: 565,760 619,175
Current assets
Stocks: 3,514,688 3,629,862
Debtors:   818,944 620,741
Cash at bank and in hand: 13,974 43,977
Total current assets: 4,347,606 4,294,580
Creditors: amounts falling due within one year:   (3,208,565) (3,256,510)
Net current assets (liabilities): 1,139,041 1,038,070
Total assets less current liabilities: 1,704,801 1,657,245
Creditors: amounts falling due after more than one year:   (281,458) (442,069)
Provision for liabilities: (13,000) (20,000)
Total net assets (liabilities): 1,410,343 1,195,176
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 1,410,333 1,195,166
Shareholders funds: 1,410,343 1,195,176

The notes form part of these financial statements

GREG MITCHELL MOTORS LTD

Balance sheet statements

For the year ending 31 January 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 April 2025
and signed on behalf of the board by:

Name: Greg Mitchell
Status: Director

The notes form part of these financial statements

GREG MITCHELL MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2025

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GREG MITCHELL MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2025

2. Employees

2025 2024
Average number of employees during the period 35 35

GREG MITCHELL MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2025

3. Intangible Assets

Total
Cost £
At 01 February 2024 300,000
At 31 January 2025 300,000
Amortisation
At 01 February 2024 240,000
Charge for year 15,000
At 31 January 2025 255,000
Net book value
At 31 January 2025 45,000
At 31 January 2024 60,000

GREG MITCHELL MOTORS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2025

4. Tangible Assets

Total
Cost £
At 01 February 2024 1,407,641
Additions 56,510
Disposals (5,231)
At 31 January 2025 1,458,920
Depreciation
At 01 February 2024 848,466
Charge for year 93,211
On disposals (3,517)
At 31 January 2025 938,160
Net book value
At 31 January 2025 520,760
At 31 January 2024 559,175