Mitchell Stephenson Limited Company Accounts
Mitchell Stephenson Limited Company Accounts
COMPANY REGISTRATION NUMBER:
04276438
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For the year ended |
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Financial Statements |
Year ended 31 March 2017
Contents |
Pages |
Officers and professional advisers |
1 |
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements |
2 |
Statement of financial position |
3 to 4 |
Notes to the financial statements |
5 to 8 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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Registered office |
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Accountants |
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Chartered accountant |
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11 Queens Road |
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Brentwood |
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Essex |
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CM14 4HE |
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 March 2017
11 Queens Road
Brentwood
Essex
CM14 4HE
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Statement of Financial Position (continued) |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
13 November 2017
, and are signed on behalf of the board by:
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Director |
Company registration number:
04276438
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Notes to the Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Churchill Court, Westerham, Kent, TN16 1BT.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that the actual outcomes could differ from those estimates. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings |
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Motor Vehicles |
- |
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Equipment |
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20% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Hedge accounting
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
289
(2016:
284
).
5.
Tangible assets
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2016 |
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31,848 |
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Additions |
– |
– |
1,047 |
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Disposals |
– |
(
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– |
(
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------- |
-------- |
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At 31 March 2017 |
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– |
32,895 |
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------- |
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Depreciation |
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At 1 April 2016 |
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19,930 |
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Charge for the year |
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1,893 |
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Disposals |
– |
(
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– |
(
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------- |
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At 31 March 2017 |
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– |
21,823 |
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Carrying amount |
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At 31 March 2017 |
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– |
11,072 |
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At 31 March 2016 |
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11,918 |
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6.
Debtors
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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8.
Related party transactions
Management fees and consultancy amounting to £75,180 (2016 £73,720) were paid to Mitchell Design Consultants, a partnership owned by
P C Mitchell
and Mrs S A Mitchell
, both of whom are directors of this company.
9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.