EP Mitchell Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08897565 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

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

1,461

1,321

CURRENT ASSETS

Stocks

200

350

Debtors

5

14,488

13,957

Cash at bank

9,208

4,810

23,896

19,117

CREDITORS

Amounts falling due within one year

6

2,088

4,360

NET CURRENT ASSETS

21,808

14,757

TOTAL ASSETS LESS CURRENT LIABILITIES

23,269

16,078

PROVISIONS FOR LIABILITIES

248

225

NET ASSETS

23,021

15,853

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

22,921

15,753

SHAREHOLDERS' FUNDS

23,021

15,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 8 June 2018 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.

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 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 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

2,226

Additions

696

At 31 March 2018

2,922

DEPRECIATION

At 1 April 2017

905

Charge for year

556

At 31 March 2018

1,461

NET BOOK VALUE

At 31 March 2018

1,461

At 31 March 2017

1,321

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

5,981

4,688

Amounts recoverable on contract

5,656

5,273

Prepayments

2,851

3,996

14,488

13,957

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

-

1,110

Tax

1,654

2,985

Accrued expenses

434

265

2,088

4,360

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

1

100

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and 31 March 2017:

31.3.18

31.3.17

£

£

Mrs E L Mitchell

Balance outstanding at start of year

-

(7,007

)

Amounts advanced

160

7,035

Amounts repaid

(160

)

(28

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The director lent the company money, which was repaid before the end of the year. The loan was interest free and

repayable on demand. No amounts were written off in the year in respect of the loan.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs E L Mitchell.