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Registered number: 00440743
Mitchells (Millbrook) Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
SPD Accounting Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00440743
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 211,038 198,984
Investments 5 - 100
211,038 199,084
CURRENT ASSETS
Stocks 6 557,241 542,119
Debtors 7 1,517,477 1,365,068
Cash at bank and in hand 693,779 884,800
2,768,497 2,791,987
Creditors: Amounts Falling Due Within One Year 8 (474,128 ) (443,140 )
NET CURRENT ASSETS (LIABILITIES) 2,294,369 2,348,847
TOTAL ASSETS LESS CURRENT LIABILITIES 2,505,407 2,547,931
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,000 ) -
NET ASSETS 2,504,407 2,547,931
CAPITAL AND RESERVES
Called up share capital 9 960 960
Capital redemption reserve 240 240
Profit and Loss Account 2,503,207 2,546,731
SHAREHOLDERS' FUNDS 2,504,407 2,547,931
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A J Mitchell
Director
Miss S J Mitchell
Director
30 September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mitchells (Millbrook) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00440743 . The registered office is Third Avenue, Millbrook, Southampton, SO15 OLD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Plant & Machinery 15% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 15% on cost
2.4. Stocks and Work in Progress
Stocks is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 17)
17 17
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 October 2023 48,442 222,764 418,404 39,155 728,765
Additions - - 126,655 - 126,655
Disposals - - (80,562 ) - (80,562 )
As at 30 September 2024 48,442 222,764 464,497 39,155 774,858
Depreciation
As at 1 October 2023 25,932 211,516 255,891 36,442 529,781
Provided during the period 945 4,746 83,437 533 89,661
Disposals - - (55,622 ) - (55,622 )
As at 30 September 2024 26,877 216,262 283,706 36,975 563,820
Net Book Value
As at 30 September 2024 21,565 6,502 180,791 2,180 211,038
As at 1 October 2023 22,510 11,248 162,513 2,713 198,984
5. Investments
Subsidiaries
£
Cost or Valuation
As at 1 October 2023 200
As at 30 September 2024 200
Provision
As at 1 October 2023 100
Added in period 100
As at 30 September 2024 200
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 100
6. Stocks
2024 2023
£ £
Stock 557,241 542,119
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 419,719 477,966
Other debtors 828,059 706,165
1,247,778 1,184,131
Due after more than one year
Other debtors 269,699 180,937
1,517,477 1,365,068
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 299,120 300,285
Other creditors 48,749 69,288
Taxation and social security 126,259 73,567
474,128 443,140
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 960 960
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 49,375 49,375
Later than one year and not later than five years 156,354 197,500
Later than five years - 8,229
205,729 255,104
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2023 Amounts advanced Amounts repaid Amounts written off As at 30 September 2024
£ £ £ £ £
Mr Alister Mitchell 426,589 125,000 500 - 551,089
Miss Susan Mitchell 212,306 20,000 13,000 - 219,306
The above loans are unsecured, interest free and repayable on demand.
Page 5