Mitchell and Dickinson Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07217073 (England and Wales)

MITCHELL AND DICKINSON LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Report of the Directors

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

M Mitchell

P Dickinson

REGISTERED OFFICE:

37 Mill Street

Bideford

DEVON

EX39 2JJ

REGISTERED NUMBER:

07217073 (England and Wales)

ACCOUNTANTS:

Jane Maynard Limited

T/A Maynard Johns

37 Mill Street

Bideford

DEVON

EX39 2JJ

The directors present their report with the financial statements of the company for the year ended 31 March 2019.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2018 to the date of this report.

M Mitchell

P Dickinson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

M Mitchell - Director

20 December 2019

FIXED ASSETS

Tangible assets

4

7,732

10,407

CURRENT ASSETS

Stocks

33,711

24,281

Debtors

144,618

57,786

Cash at bank

32,535

78,405

210,864

160,472

CREDITORS

Amounts falling due within one year

(303,945

)

(238,373

)

NET CURRENT LIABILITIES

(93,081

)

(77,901

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(85,349

)

(67,494

)

CAPITAL AND RESERVES

Called up share capital

1,894

1,859

Share premium

265,314

259,633

Retained earnings

(352,557

)

(328,986

)

SHAREHOLDERS' FUNDS

(85,349

)

(67,494

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 20 December 2019 and were signed on its behalf by:

M Mitchell - Director

1.	STATUTORY INFORMATION

Mitchell and Dickinson Limited is a private company, limited by shares , registered in England and Wales. 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.

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

-

33% on cost, 25% on cost, 15% on cost and 10% 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.

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.

Going concern

The directors have assessed the company's financial position as well as considered the future sales expectation.

They have concluded that, with their continued support, the company will be able to trade for a period of at least

eighteen months from the balance sheet date. They therefore consider that the going concern basis has been

correctly applied.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2018 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

43,146

Additions

9,643

Disposals

(3,000

)

At 31 March 2019

49,789

DEPRECIATION

At 1 April 2018

32,739

Charge for year

9,438

Eliminated on disposal

(120

)

At 31 March 2019

42,057

NET BOOK VALUE

At 31 March 2019

7,732

At 31 March 2018

10,407

5.	GOING CONCERN

The directors have assessed the company's financial position as well as considered the future sales expectation.

They have concluded that, with their continued support, the company will be able to trade for a period of at least

eighteen months from the balance sheet date. They therefore consider that the going concern basis has been

correctly applied.