Mitchells of Erskine Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC483695 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 May 2021

for

Mitchells of Erskine Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J F Mitchell

SECRETARY:

REGISTERED OFFICE:

Unit 2

Bridgewater Shopping Centre

Erskine

PA8 7AA

REGISTERED NUMBER:

SC483695 (Scotland)

ACCOUNTANTS:

Jackson Moughal Ltd

2 Fitzroy Place

Sauchiehall Street

Glasgow

Lanarkshire

G3 7RH

FIXED ASSETS

Tangible assets

4

3,218

-

CURRENT ASSETS

Stocks

8,160

5,635

Debtors

5

110,965

93,114

Cash at bank and in hand

53,275

68,311

172,400

167,060

CREDITORS

Amounts falling due within one year

6

85,719

105,015

NET CURRENT ASSETS

86,681

62,045

TOTAL ASSETS LESS CURRENT LIABILITIES

89,899

62,045

CREDITORS

Amounts falling due after more than one year

7

50,000

-

NET ASSETS

39,899

62,045

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

39,799

61,945

39,899

62,045

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 May 2021 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 30 July 2022 and were signed by:

J F Mitchell - Director

1.	STATUTORY INFORMATION

Mitchells of Erskine Limited 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.

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.

The financial statements have been prepared under the historical cost convention in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2008). The following principal accounting policies have been applied:

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

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 8 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 31 May 2020

25,904

12,530

38,434

Additions

4,290

-

4,290

At 30 May 2021

30,194

12,530

42,724

DEPRECIATION

At 31 May 2020

25,904

12,530

38,434

Charge for year

1,072

-

1,072

At 30 May 2021

26,976

12,530

39,506

NET BOOK VALUE

At 30 May 2021

3,218

-

3,218

At 30 May 2020

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

20,253

20,253

Directors' current accounts

59,941

59,245

VAT

30,771

13,616

110,965

93,114

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

46,666

64,729

Tax

34,195

34,371

Social security and other taxes

412

1,482

Pension creditor

13

-

Accruals and deferred income

4,433

4,433

85,719

105,015

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

50,000

-

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J F Mitchell.