REGISTERED NUMBER: 08355168 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2025

for

Mitchell's Rental Properties Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Mitchell

Mrs L Mitchell

REGISTERED OFFICE:

c/o OCG Accountants Ltd

Biz Hub Tees Valley

Belasis Hall Technology Park

Billingham

TS23 4EA

REGISTERED NUMBER:

08355168 (England and Wales)

ACCOUNTANTS:

OCG Accountants Ltd

Biz Hub Tees Valley

Belasis Hall Technology Park

Coxwold Way

Billingham

Co. Durham

TS23 4EA

FIXED ASSETS

Tangible assets

3

400

533

Investment property

4

2,937,635

2,027,635

2,938,035

2,028,168

CURRENT ASSETS

Debtors

5

439,050

440,489

Cash at bank and in hand

134,700

4,409

573,750

444,898

CREDITORS

Amounts falling due within one year

6

(1,102,381

)

(180,389

)

NET CURRENT (LIABILITIES)/ASSETS

(528,631

)

264,509

TOTAL ASSETS LESS CURRENT LIABILITIES

2,409,404

2,292,677

CREDITORS

Amounts falling due after more than one year

7

(1,892,187

)

(1,756,914

)

PROVISIONS FOR LIABILITIES

(27,551

)

(92,151

)

NET ASSETS

489,666

443,612

CAPITAL AND RESERVES

Called up share capital

101

101

Revaluation reserve

9

124,459

399,859

Retained earnings

9

365,106

43,652

489,666

443,612

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 17th September 2026 and were signed on its behalf by:

M Mitchell - Director

1.	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 as modified by the revaluation of certain assets.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2024

and 31st March 2025

7,089

DEPRECIATION

At 1st April 2024

6,556

Charge for year

133

At 31st March 2025

6,689

NET BOOK VALUE

At 31st March 2025

400

At 31st March 2024

533

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1st April 2024

2,027,635

Additions

910,000

At 31st March 2025

2,937,635

NET BOOK VALUE

At 31st March 2025

2,937,635

At 31st March 2024

2,027,635

The director sees no benefit in revaluing the assets.

Cost or valuation at 31st March 2025 is represented by:

£

Valuation in 2017

123,658

Valuation in 2018

27,774

Valuation in 2019

3,350

Valuation in 2020

2,932

Valuation in 2021

7,040

Valuation in 2022

53,129

Valuation in 2023

267,120

Cost

2,452,632

2,937,635

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

439,050

440,489

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

5,643

12,371

Other creditors

910,000

-

Directors' current accounts

186,738

168,018

1,102,381

180,389

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

1,602,187

1,466,914

Other creditors

290,000

290,000

1,892,187

1,756,914

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Mortgages

1,602,187

1,466,914

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1st April 2024

43,652

399,859

443,511

Profit for the year

68,554

68,554

Dividends

(22,500

)

(22,500

)

Movement

275,400

(275,400

)

-

At 31st March 2025

365,106

124,459

489,565

10.	RELATED PARTY DISCLOSURES

At the year end, Mitchell's Rental Properties Ltd was owed £425,824 (2024: £427,264) from Michael Mitchell Developments Ltd an entity over which the director has control. This balance is included within other debtors (note 6).

At the year end, Mitchell's Rental Properties Ltd owed £910,000 (2024: £Nil) to Mitchell Freeholdings Ltd an entity over which the director has control. This balance is included within other creditors (note 7).