In The Mix Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC378080 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2019

FOR

IN THE MIX LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms S Warburton

SECRETARY:

Www.firstregistrars.co.uk Limited

REGISTERED OFFICE:

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

REGISTERED NUMBER:

SC378080 (Scotland)

ACCOUNTANTS:

Firstax Limited

AFM House

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

FIXED ASSETS

Intangible assets

4

2,011

4,023

Tangible assets

5

13,880

427

15,891

4,450

CURRENT ASSETS

Stocks

6

51,429

57,545

Debtors

7

309

341

Cash in hand

10,893

6,479

62,631

64,365

CREDITORS

Amounts falling due within one year

8

71,198

52,167

NET CURRENT (LIABILITIES)/ASSETS

(8,567

)

12,198

TOTAL ASSETS LESS CURRENT LIABILITIES

7,324

16,648

PROVISIONS FOR LIABILITIES

10

-

82

NET ASSETS

7,324

16,566

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

7,224

16,466

SHAREHOLDERS' FUNDS

7,324

16,566

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 on 24th February 2020 and were signed by:

Ms S Warburton - Director

1.	STATUTORY INFORMATION

In The Mix 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st June 2018

and 31st May 2019

20,114

AMORTISATION

At 1st June 2018

16,091

Amortisation for year

2,012

At 31st May 2019

18,103

NET BOOK VALUE

At 31st May 2019

2,011

At 31st May 2018

4,023

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1st June 2018

-

6,267

2,299

8,566

Additions

13,011

2,033

649

15,693

At 31st May 2019

13,011

8,300

2,948

24,259

DEPRECIATION

At 1st June 2018

-

6,267

1,872

8,139

Charge for year

1,302

508

430

2,240

At 31st May 2019

1,302

6,775

2,302

10,379

NET BOOK VALUE

At 31st May 2019

11,709

1,525

646

13,880

At 31st May 2018

-

-

427

427

6.

STOCKS

31.5.19

31.5.18

£

£

Stocks

51,429

57,545

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Prepayments and accrued income

309

341

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts (see note 9)

27,159

25,202

Trade creditors

6,801

8,617

Tax

5,266

7,022

Social security and other taxes

96

96

VAT

5,561

7,267

Credit card

11

3,197

Directors' loan accounts

26,064

77

Accrued expenses

240

689

71,198

52,167

9.

LOANS

An analysis of the maturity of loans is given below:

31.5.19

31.5.18

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

27,159

25,202

10.	PROVISIONS FOR LIABILITIES

31.5.19

31.5.18

£

£

Deferred tax

-

82

Deferred

tax

£

Balance at 1st June 2018

82

Credit to Income Statement during year

(82

)

Balance at 31st May 2019

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.19

31.5.18

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

earnings

£

At 1st June 2018

16,466

Profit for the year

22,758

Dividends

(32,000

)

At 31st May 2019

7,224

13.	RELATED PARTY DISCLOSURES

At 31st May 2019 In The Mix Limited owed Ms S Warburton, Director £26,064 (2018:£77). The loan is interest free and has

no fixed date for repayment.

14.	ULTIMATE CONTROLLING PARTY

In The Mix Limited was under the ultimate control of Ms S Warburton , Director, for the whole of the year to 31st May

2019.