REGISTERED NUMBER: SC338635 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MITCHELL EDWARDS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M T Edwards FCCA

SECRETARY:

M T Edwards FCCA

REGISTERED OFFICE:

24A Ainslie Place

Edinburgh

EH3 6AJ

REGISTERED NUMBER:

SC338635 (Scotland)

ACCOUNTANTS:

Mitchell Edwards

Chartered Certified Accountants

24A Ainslie Place

Edinburgh

EH3 6AJ

BANKERS:

Bank of Scotland

P.O. Box No. 10

38 St. Andrew Square

Edinburgh

EH2 2YR

FIXED ASSETS

Intangible assets

4

211,200

237,600

Tangible assets

5

479,564

46,959

690,764

284,559

CURRENT ASSETS

Debtors

6

289,235

331,368

Cash at bank

579,211

629,453

868,446

960,821

CREDITORS

Amounts falling due within one year

7

175,063

145,277

NET CURRENT ASSETS

693,383

815,544

TOTAL ASSETS LESS CURRENT LIABILITIES

1,384,147

1,100,103

CREDITORS

Amounts falling due after more than one year

8

193,429

-

NET ASSETS

1,190,718

1,100,103

CAPITAL AND RESERVES

Called up share capital

60

60

Capital redemption reserve

40

40

Retained earnings

1,190,618

1,100,003

SHAREHOLDERS' FUNDS

1,190,718

1,100,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 December 2025 and were signed by:

M T Edwards FCCA - Director

1.	STATUTORY INFORMATION

Mitchell Edwards 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 amounts receivable in respect of the sale of goods and sevices, net of VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008 is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 20% on cost

Land and buildings are carried at their revalued amounts, being fair value at the balance sheet date. The heritable property therein is not considered to reduce in value and this approach is considered necessary in order to present the financial position of the company in an appropriate manner.

Taxation

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

Hire purchase and leasing commitments

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 12 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

725,275

AMORTISATION

At 1 April 2024

487,675

Charge for year

26,400

At 31 March 2025

514,075

NET BOOK VALUE

At 31 March 2025

211,200

At 31 March 2024

237,600

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

-

156,636

156,636

Additions

442,310

10,950

453,260

Reclassification/transfer

(26,872

)

26,872

-

At 31 March 2025

415,438

194,458

609,896

DEPRECIATION

At 1 April 2024

-

109,677

109,677

Charge for year

-

20,655

20,655

At 31 March 2025

-

130,332

130,332

NET BOOK VALUE

At 31 March 2025

415,438

64,126

479,564

At 31 March 2024

-

46,959

46,959

A formal valuation of Land and buildings was carried out in February 2024 by J & E Shepherd Surveyors. The director is of the opinion that the valuation as at the year end would be broadly in line with the professional valuation after considering transactions in similar properties within the general location.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

279,224

317,435

Other debtors

10,011

13,933

289,235

331,368

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

17,096

-

Trade creditors

5,826

8,387

Taxation and social security

116,488

83,879

Other creditors

35,653

53,011

175,063

145,277

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

193,429

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

-

19,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

210,525

-

The Royal Bank of Scotland plc holds security over the company's heritable property. The loan bears interest at a rate of 2.45% over base and is repayable by March 2034.