Mitchell Turf & Landscaping Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC420421 (Scotland)

Financial Statements For The Year Ended 30 June 2019

for

Mitchell Turf & Landscaping Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J D Mitchell

Mrs J Mitchell

SECRETARY:

J D Mitchell

REGISTERED OFFICE:

Cherrybank Nursery

Palacerigg

Cumbernauld

G67 3HU

REGISTERED NUMBER:

SC420421 (Scotland)

ACCOUNTANTS:

Robb Ferguson

Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

226,426

257,029

CURRENT ASSETS

Stocks

58,850

53,500

Debtors

293,121

236,751

Cash at bank

20,321

7,981

372,292

298,232

CREDITORS

Amounts falling due within one year

271,433

260,196

NET CURRENT ASSETS

100,859

38,036

TOTAL ASSETS LESS CURRENT LIABILITIES

327,285

295,065

CREDITORS

Amounts falling due after more than one year

(37,777

)

(30,611

)

PROVISIONS FOR LIABILITIES

(35,834

)

(41,095

)

NET ASSETS

253,674

223,359

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

253,673

223,358

253,674

223,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2020 and were signed on its behalf by:

J D Mitchell - Director

1.	STATUTORY INFORMATION

Mitchell Turf & Landscaping Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

5% on cost

Fixed plant and equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the

Statement of Comprehensive Income. Derivative financial instruments are initially recorded at cost and thereafter

at fair value with changes recognised in the Statement of Comprehensive Income.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive

Income, 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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 14 (2018 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

491,508

Additions

79,430

Disposals

(86,633

)

At 30 June 2019

484,305

DEPRECIATION

At 1 July 2018

234,479

Charge for year

53,208

Eliminated on disposal

(29,808

)

At 30 June 2019

257,879

NET BOOK VALUE

At 30 June 2019

226,426

At 30 June 2018

257,029

5.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2019

2018

£

£

Net obligations repayable:

Within one year

44,708

20,667

Between one and five years

37,777

30,611

82,485

51,278

Non-cancellable

operating leases

2019

2018

£

£

Within one year

16,837

5,715

Between one and five years

40,883

-

57,720

5,715