Tony Mitchell Limited - Period Ending 2026-04-30

Registration number: 05351928

Tony Mitchell Limited

Annual Report and Unaudited Financial Statements

for the year ended 30 April 2026

Tony Mitchell Limited

Contents

Director's Report	1
Accountants' Report	2
Profit and Loss Account	3
Balance Sheet	4 to 5
Notes to the Unaudited Financial Statements	6 to 14

Tony Mitchell Limited

Director's Report for the Year Ended 30 April 2026

The director presents her report and the financial statements for the year ended 30 April 2026.

Director of the company

The director who held office during the year was as follows:

Mrs N Crook - Company secretary and director

Principal activity

The principal activity of the company is agricultural and country hardware wholesaler

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 2 July 2026 and signed on its behalf by:

Mrs N Crook
Company secretary and director

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Tony Mitchell Limited
for the Year Ended 30 April 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tony Mitchell Limited for the year ended 30 April 2026 as set out on pages 3 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Tony Mitchell Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tony Mitchell Limited and state those matters that we have agreed to state to the Board of Directors of Tony Mitchell Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tony Mitchell Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tony Mitchell Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Tony Mitchell Limited. You consider that Tony Mitchell Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Tony Mitchell Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Glover Stanbury
Chartered Accountants
30 Bear Street
BARNSTAPLE
Devon
EX32 7DD

2 July 2026

Tony Mitchell Limited

Profit and Loss Account for the Year Ended 30 April 2026

	Note	2026 £	2025 £
Turnover		4,398,482	4,592,543
Cost of sales		(3,335,624)	(3,498,631)
Gross profit		1,062,858	1,093,912
Administrative expenses		(1,077,933)	(1,116,518)
Operating loss		(15,075)	(22,606)
Other interest receivable and similar income		278	305
Interest payable and similar expenses		(24,824)	(27,699)
		(24,546)	(27,394)
Loss before tax	4	(39,621)	(50,000)
Tax on loss		-	6,067
Loss for the financial year		(39,621)	(43,933)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Tony Mitchell Limited

(Registration number: 05351928)
Balance Sheet as at 30 April 2026

	Note	2026 £	2025 £
Fixed Assets
Tangible Assets	6	865,647	898,000
Current assets
Stocks	7	675,320	694,538
Debtors	8	739,023	765,386
Cash at bank and in hand		102,917	131,426
		1,517,260	1,591,350
Creditors: Amounts falling due within one year	9	(1,072,283)	(1,054,739)
Net current assets		444,977	536,611
Total assets less current liabilities		1,310,624	1,434,611
Creditors: Amounts falling due after more than one year	9	(352,099)	(436,465)
Net assets		958,525	998,146
Capital and Reserves
Called up share capital	10	90	90
Capital redemption reserve		10	10
Revaluation reserve		1,985	2,335
Retained Earnings		956,440	995,711
Shareholders' funds		958,525	998,146

Tony Mitchell Limited

(Registration number: 05351928)
Balance Sheet as at 30 April 2026

For the financial year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised for issue by the director on 2 July 2026

Mrs N Crook

Company secretary and director

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 5
Station Road Industrial Estate
SOUTH MOLTON
Devon
EX36 3LL

These financial statements were authorised for issue by the director on 2 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

Judgements

There are no judgements which management have made in the process of applying the accounting policies.

Key sources of estimation uncertainty

There are no key sources of estimation uncertainty that have a significant risk of causing a material adjustment to assets and liabilities to be disclosed..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible Assets

Tangible Assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and equipment	15% reducing balance
Motor vehicles	25% reducing balance
Freehold land and buildings	2% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Basic ﬁnancial assets include trade and other debtors, cash and bank balances. Basic ﬁnancial liabilities include trade and other payables, bank loans and preference shares that are classiﬁed as debt.
Recognition and measurement
Basic financial assets are initially recognised at transaction price, unless the arrangement constitutes a ﬁnancing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. Other debtors are classified as current assets if payment is due within one year or less and are initially recorded at transaction price and subsequently measured at the undiscounted amount of the cash expected to be received. Trade debtors are referred to above.

Basic financial liabilities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Other creditors are classiﬁed as current liabilities if payment is due within one year or less and are recognised initially at transaction price and subsequently measured at the undiscounted amount of the cash expected to be paid. If not, they are presented as non-current liabilities and are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Trade creditors and leases are referred to above.
Impairment
At the end of each reporting period ﬁnancial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash ﬂows discounted at the asset’s original effective interest rate. The impairment loss is recognised in proﬁt or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in proﬁt or loss.

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

3	Staff numbers

The average number of persons employed by the company (including the director under service contract) during the year, was 22 (2025 - 22).

4	Loss before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	39,171	43,320

5	Intangible assets

Goodwill
£

Total
£

Cost or valuation

At 1 May 2025

325,000

325,000

At 30 April 2026

325,000

325,000

Amortisation

At 1 May 2025

325,000

325,000

At 30 April 2026

325,000

325,000

Carrying amount

At 30 April 2026

-

-

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

6	Tangible Assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
£

Total
£

Cost or valuation

At 1 May 2025

851,738

274,886

105,505

1,232,129

Additions

1,624

5,194

-

6,818

At 30 April 2026

853,362

280,080

105,505

1,238,947

Depreciation

At 1 May 2025

61,440

221,324

51,365

334,129

Charge for the year

17,066

8,570

13,535

39,171

At 30 April 2026

78,506

229,894

64,900

373,300

Carrying amount

At 30 April 2026

774,856

50,186

40,605

865,647

At 30 April 2025

790,298

53,562

54,140

898,000

7

Stocks

2026
£

2025
£

Catalogues and packaging

22,022

28,242

Goods for resale

653,298

666,296

675,320

694,538

8

Debtors

Current

Note

2026
£

2025
£

Trade Debtors

716,511

757,326

Amounts owed by related parties

5,729

-

Prepayments

8,636

4,225

Other debtors

8,147

3,835

739,023

765,386

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

9

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	11	84,636	85,614
Trade Creditors		385,031	318,697
Taxation and social security		48,846	69,223
Accruals and deferred income		65,846	70,166
Other creditors		487,924	511,039
		1,072,283	1,054,739

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	11	352,099	436,465

10	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Tony Mitchell Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

11	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £

Bank borrowings	352,099	427,622
Hire purchase contracts	-	8,843
	352,099	436,465

2026
£

2025
£

Current loans and borrowings

Bank borrowings

75,793

72,290

Hire purchase contracts

8,843

13,324

84,636

85,614

12

Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

	2026 £	2025 £
Not later than one year	10,504	15,739
Later than one year and not later than five years	-	10,504
	10,504	26,243

Operating leases

The total of future minimum lease payments is as follows:

	2026 £	2025 £
Not later than one year	9,265	3,921
Later than one year and not later than five years	3,861	-
	13,126	3,921

The amount of non-cancellable operating lease payments recognised as an expense during the year was £9,326 (2025 - £6,722).

	Goodwill £	Total £
Cost or valuation
At 1 May 2025	325,000	325,000
At 30 April 2026	325,000	325,000
Amortisation
At 1 May 2025	325,000	325,000
At 30 April 2026	325,000	325,000
Carrying amount
At 30 April 2026	-	-

	Land and buildings £	Plant and machinery £	Motor vehicles £	Total £
Cost or valuation
At 1 May 2025	851,738	274,886	105,505	1,232,129
Additions	1,624	5,194	-	6,818
At 30 April 2026	853,362	280,080	105,505	1,238,947
Depreciation
At 1 May 2025	61,440	221,324	51,365	334,129
Charge for the year	17,066	8,570	13,535	39,171
At 30 April 2026	78,506	229,894	64,900	373,300
Carrying amount
At 30 April 2026	774,856	50,186	40,605	865,647
At 30 April 2025	790,298	53,562	54,140	898,000

	2026 £	2025 £
Catalogues and packaging	22,022	28,242
Goods for resale	653,298	666,296
	675,320	694,538

Current	Note	2026 £	2025 £
Trade Debtors		716,511	757,326
Amounts owed by related parties		5,729	-
Prepayments		8,636	4,225
Other debtors		8,147	3,835
		739,023	765,386

	2026 £	2025 £
Current loans and borrowings
Bank borrowings	75,793	72,290
Hire purchase contracts	8,843	13,324
	84,636	85,614