Does mild cerebral palsy have physical limitations?

Yes, but...: Many people with mild CP will live full, normal lives. The physical limitations are a result of the severity of the neurological insult.

Define "mild": Some clumsy people really have a very mild form of CP, but their issues seldom if ever cause limitations. Unless being chosen last for a pick up game is a limitation. Limitations are directly related to the intensity of the CP. With no more background information than you gave, we can not provide more specific comments.