In The Mix Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC378080 (Scotland)

Financial Statements for the Year Ended 31 May 2022

for

In The Mix Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

8

DIRECTOR:

Ms S Warburton

SECRETARY:

REGISTERED OFFICE:

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

REGISTERED NUMBER:

SC378080 (Scotland)

ACCOUNTANTS:

Colin McNally B.A. Hon's; F.C.M.A

Parris and McNally Limited

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

21,506

25,162

21,506

25,162

CURRENT ASSETS

Stocks

6

62,354

57,000

Debtors

7

750

123

Cash in hand

50

50

63,154

57,173

CREDITORS

Amounts falling due within one year

8

(51,589

)

(31,791

)

NET CURRENT ASSETS

11,565

25,382

TOTAL ASSETS LESS CURRENT LIABILITIES

33,071

50,544

CREDITORS

Amounts falling due after more than one year

9

(22,556

)

(36,000

)

NET ASSETS

10,515

14,544

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

10,415

14,444

SHAREHOLDERS' FUNDS

10,515

14,544

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 and authorised for issue on 20 January 2023 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 (2021 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2021

and 31 May 2022

20,114

AMORTISATION

At 1 June 2021

and 31 May 2022

20,114

NET BOOK VALUE

At 31 May 2022

-

At 31 May 2021

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 June 2021

30,718

8,300

4,943

43,961

Additions

655

-

-

655

At 31 May 2022

31,373

8,300

4,943

44,616

DEPRECIATION

At 1 June 2021

7,395

7,791

3,613

18,799

Charge for year

3,137

509

665

4,311

At 31 May 2022

10,532

8,300

4,278

23,110

NET BOOK VALUE

At 31 May 2022

20,841

-

665

21,506

At 31 May 2021

23,323

509

1,330

25,162

6.

STOCKS

31.5.22

31.5.21

£

£

Stocks

62,354

57,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Other debtors

626

3

Prepayments and accrued income

124

120

750

123

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans and overdrafts (see note 10)

24,626

12,700

Trade creditors

9,858

5,168

Tax

9,999

9,511

Social security and other taxes

428

262

VAT

6,237

669

Credit card

3

2,522

Directors' loan accounts

182

101

Accrued expenses

256

858

51,589

31,791

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans (see note 10)

22,556

36,000

10.

LOANS

An analysis of the maturity of loans is given below:

31.5.22

31.5.21

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

15,626

3,700

Bank loans

9,000

9,000

24,626

12,700

Amounts falling due between one and two years:

Bank loans - 1-2 years

9,000

9,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

13,556

27,000

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.22

31.5.21

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

earnings

£

At 1 June 2021

14,444

Profit for the year

38,971

Dividends

(43,000

)

At 31 May 2022

10,415

13.	RELATED PARTY DISCLOSURES

At 31st May 2022 In The Mix Limited owed Ms S Warburton, Director £181 (2021:£102). 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 2022.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of In The Mix Limited for the year ended 31st May 2022 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.

This report is made solely to the Board of Directors of In The Mix Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of In The Mix Limited and state those matters that we have agreed to state to the Board of Directors of In The Mix Limited, as a body, in this report. 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.

You have acknowledged on the Balance Sheet as at 31st May 2022 that it is your duty to ensure that In The Mix 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 In The Mix Limited. You consider that In The Mix 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 In The Mix 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.

Colin McNally B.A. Hon's; F.C.M.A

Parris and McNally Limited

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

Date: .............................................