P & S Mitchell Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01305462 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

P & S MITCHELL LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

P J Mitchell

S J J Mitchell

SECRETARY:

Mrs S R Mitchell

REGISTERED OFFICE:

Ivy Farm

East Dundry

Bristol

North Somerset

BS41 8NH

REGISTERED NUMBER:

01305462 (England and Wales)

ACCOUNTANTS:

R S Porter & Co Limited

Albion Dockside Building

Hanover Place

Bristol

BS1 6UT

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of P & S Mitchell Limited for the year ended 31 March 2015 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are

subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of P & S Mitchell Limited, as a body, in accordance with the

terms of our engagement letter dated 25 November 2009. Our work has been undertaken solely to prepare for your

approval the financial statements of P & S Mitchell Limited and state those matters that we have agreed to state to the

Board of Directors of P & S Mitchell Limited, as a body, in this report in accordance with AAF 2/10 as detailed at

icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone

other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P & S Mitchell Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P & S

Mitchell Limited. You consider that P & S Mitchell Limited is exempt from the statutory audit requirement for the

year.

We have not been instructed to carry out an audit or a review of the financial statements of P & S Mitchell Limited.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

R S Porter & Co Limited

Albion Dockside Building

Hanover Place

Bristol

BS1 6UT

29 July 2015

FIXED ASSETS

Tangible assets

2

1,260,880

1,228,485

CURRENT ASSETS

Stocks

253,946

232,546

Debtors

75,794

52,306

Cash at bank and in hand

76,942

111,038

406,682

395,890

CREDITORS

Amounts falling due within one year

(211,097

)

(217,007

)

NET CURRENT ASSETS

195,585

178,883

TOTAL ASSETS LESS CURRENT LIABILITIES

1,456,465

1,407,368

CREDITORS

Amounts falling due after more than one year

3

(593,332

)

(634,893

)

PROVISIONS FOR LIABILITIES

(62,487

)

(58,076

)

NET ASSETS

800,646

714,399

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

800,546

714,299

SHAREHOLDERS' FUNDS

800,646

714,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 July 2015 and were signed on its behalf by:

S J J Mitchell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

TURNOVER represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

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.

Deferred tax

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

balance sheet date.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

1,909,907

Additions

102,376

Disposals

(15,500

)

At 31 March 2015

1,996,783

DEPRECIATION

At 1 April 2014

681,422

Charge for year

61,981

Eliminated on disposal

(7,500

)

At 31 March 2015

735,903

NET BOOK VALUE

At 31 March 2015

1,260,880

At 31 March 2014

1,228,485

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

206,352

232,518

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100