COMPANY REGISTRATION NUMBER:
02328237
|
Mitchell Management Associates Limited |
|
|
Filleted Unaudited Abridged Financial Statements |
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Mitchell Management Associates Limited |
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Abridged Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Tangible assets |
5 |
– |
150 |
|
Investments |
6 |
97,801 |
391,956 |
|
-------- |
--------- |
|
97,801 |
392,106 |
|
|
|
|
Current assets
|
Debtors |
28,004 |
38,250 |
|
Cash at bank and in hand |
214,106 |
163,064 |
|
--------- |
--------- |
|
242,110 |
201,314 |
|
|
|
|
Creditors: amounts falling due within one year |
6,888 |
112,876 |
|
--------- |
--------- |
|
Net current assets |
235,222 |
88,438 |
|
--------- |
--------- |
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Total assets less current liabilities |
333,023 |
480,544 |
|
--------- |
--------- |
|
Net assets |
333,023 |
480,544 |
|
--------- |
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Fair value reserve |
– |
84,961 |
|
Profit and loss account |
332,923 |
395,483 |
|
--------- |
--------- |
|
Shareholder funds |
333,023 |
480,544 |
|
--------- |
--------- |
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|
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
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Mitchell Management Associates Limited |
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Abridged Statement of Financial Position (continued) |
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31 December 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
29 October 2025
, and are signed on behalf of the board by:
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Mrs A P Mitchell |
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Director |
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Company registration number:
02328237
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Mitchell Management Associates Limited |
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Notes to the Abridged Financial Statements |
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Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Mallard Way, Pride Park, Derby, DE24 8GX.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all timimg differences.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & fittings |
- |
25% reducing balance |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
2
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 January 2024 |
3,434 |
|
Disposals |
(
2,568) |
|
------- |
|
At 31 December 2024 |
866 |
|
------- |
|
Depreciation |
|
|
At 1 January 2024 |
3,284 |
|
Charge for the year |
152 |
|
Disposals |
(
2,570) |
|
------- |
|
At 31 December 2024 |
866 |
|
------- |
|
Carrying amount |
|
|
At 31 December 2024 |
– |
|
------- |
|
At 31 December 2023 |
150 |
|
------- |
|
|
6.
Investments
|
£ |
|
Cost |
|
|
At 1 January 2024 |
391,956 |
|
Disposals |
(
229,260) |
|
Revaluations |
(
25,861) |
|
Other movements |
(
39,034) |
|
--------- |
|
At 31 December 2024 |
97,801 |
|
--------- |
|
Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
--------- |
|
Carrying amount |
|
|
At 31 December 2024 |
97,801 |
|
--------- |
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At 31 December 2023 |
391,956 |
|
--------- |
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7.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2024 |
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|
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
Mr G K Mitchell |
(
106,477) |
108,481 |
– |
2,004 |
|
|
--------- |
--------- |
---- |
------- |
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|
|
|
|
|
|
2023 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
Mr G K Mitchell |
(
118,467) |
21,879 |
(
9,889) |
(
106,477) |
|
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--------- |
-------- |
------- |
--------- |
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