EP Mitchell Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 08897565 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

EP Mitchell Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs E L Mitchell

REGISTERED OFFICE:

Marlborough

Hillcrest

Helston

Cornwall

TR138UN

REGISTERED NUMBER:

08897565 (England and Wales)

ACCOUNTANTS:

Mitchell Chartered Accountants

Marlborough

Hillcrest

Helston

Cornwall

TR13 8UN

FIXED ASSETS

Tangible assets

4

1,321

922

CURRENT ASSETS

Stocks

350

432

Debtors

5

13,957

8,789

Cash at bank

4,810

1,735

19,117

10,956

CREDITORS

Amounts falling due within one year

6

4,360

8,127

NET CURRENT ASSETS

14,757

2,829

TOTAL ASSETS LESS CURRENT LIABILITIES

16,078

3,751

PROVISIONS FOR LIABILITIES

225

184

NET ASSETS

15,853

3,567

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

15,753

3,467

SHAREHOLDERS' FUNDS

15,853

3,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 22 November 2017 and were signed by:

Mrs E L Mitchell - Director

1.	STATUTORY INFORMATION

EP Mitchell Limited is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting policies

The accounts have been prepared under FRS 102 section 1A this year. There have been no changes required to the

accounting treatment or comparatives and therefore those figures have not been restated.

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.

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% 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 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.

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 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

500

946

1,446

Additions

668

112

780

At 31 March 2017

1,168

1,058

2,226

DEPRECIATION

At 1 April 2016

51

473

524

Charge for year

117

264

381

At 31 March 2017

168

737

905

NET BOOK VALUE

At 31 March 2017

1,000

321

1,321

At 31 March 2016

449

473

922

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

4,688

2,497

Amounts recoverable on contract

5,273

4,558

Prepayments

3,996

1,734

13,957

8,789

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

1,110

398

Taxation and social security

2,985

722

Other creditors

265

7,007

4,360

8,127

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

100

Ordinary Share Capital

£1

100

100

8.	PENSION COMMITMENTS

The company does not operate it's own pension scheme, instead it pays into it's employees personal pensions. There was no

commitment at the end of the current or previous year.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and 31 March 2016:

31.3.17

31.3.16

£

£

Mrs E L Mitchell

Balance outstanding at start of year

(7,007

)

(5,924

)

Amounts advanced

7,035

2,107

Amounts repaid

(28

)

(3,190

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(7,007

)

The director has loaned money to the company and purchased items on behalf of the company on an interest free basis. The

company has reimbursed the director for some of the loans and purchased personal items for the director. No amounts have

been written off in the year. The director is happy to continue to support the company by not requesting immediate

repayment of the loan.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs E L Mitchell.

11.	CHANGE TO FRS 102 SECTION 1A

This is the first year of adoption of FRS 102 Section 1A. None of the accounting policies have changed or the comparative

or opening balances re-stated on transition.