IRIS Accounts Production v22.1.4.3 09437947 Board of Directors 1.4.21 31.3.22 31.3.22 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure094379472021-03-31094379472022-03-31094379472021-04-012022-03-31094379472020-03-31094379472020-04-012021-03-31094379472021-03-3109437947ns16:EnglandWales2021-04-012022-03-3109437947ns15:PoundSterling2021-04-012022-03-3109437947ns11:Director12021-04-012022-03-3109437947ns11:PrivateLimitedCompanyLtd2021-04-012022-03-3109437947ns11:SmallEntities2021-04-012022-03-3109437947ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-3109437947ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-3109437947ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-3109437947ns11:FullAccounts2021-04-012022-03-3109437947ns11:OrdinaryShareClass12021-04-012022-03-3109437947ns11:Director22021-04-012022-03-3109437947ns11:RegisteredOffice2021-04-012022-03-3109437947ns6:CurrentFinancialInstruments2022-03-3109437947ns6:CurrentFinancialInstruments2021-03-3109437947ns6:Non-currentFinancialInstruments2022-03-3109437947ns6:Non-currentFinancialInstruments2021-03-3109437947ns6:ShareCapital2022-03-3109437947ns6:ShareCapital2021-03-3109437947ns6:RetainedEarningsAccumulatedLosses2022-03-3109437947ns6:RetainedEarningsAccumulatedLosses2021-03-3109437947ns6:PlantMachinery2021-04-012022-03-3109437947ns6:FurnitureFittings2021-04-012022-03-3109437947ns6:MotorVehicles2021-04-012022-03-3109437947ns6:ComputerEquipment2021-04-012022-03-3109437947ns6:PlantMachinery2021-03-3109437947ns6:FurnitureFittings2021-03-3109437947ns6:MotorVehicles2021-03-3109437947ns6:ComputerEquipment2021-03-3109437947ns6:PlantMachinery2022-03-3109437947ns6:FurnitureFittings2022-03-3109437947ns6:MotorVehicles2022-03-3109437947ns6:ComputerEquipment2022-03-3109437947ns6:PlantMachinery2021-03-3109437947ns6:FurnitureFittings2021-03-3109437947ns6:MotorVehicles2021-03-3109437947ns6:ComputerEquipment2021-03-3109437947ns6:CostValuation2021-03-3109437947ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3109437947ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-3109437947ns6:DeferredTaxation2021-03-3109437947ns6:DeferredTaxation2021-04-012022-03-3109437947ns6:DeferredTaxation2022-03-3109437947ns11:OrdinaryShareClass12022-03-31
















MIDLANDS HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






MIDLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 09437947)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDLANDS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: T D Macfarlane
A R Thompson





REGISTERED OFFICE: Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS





REGISTERED NUMBER: 09437947 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

MIDLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 09437947)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,672,899 3,681,322
Investments 5 10,101 10,101
4,683,000 3,691,423

CURRENT ASSETS
Stocks 96,286 69,786
Debtors 6 561,970 540,629
Cash at bank and in hand 89,668 77,262
747,924 687,677
CREDITORS
Amounts falling due within one year 7 2,158,503 1,412,141
NET CURRENT LIABILITIES (1,410,579 ) (724,464 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,272,421 2,966,959

CREDITORS
Amounts falling due after more than one year 8 (2,833,899 ) (2,535,355 )

PROVISIONS FOR LIABILITIES 10 (110,000 ) (102,500 )
NET ASSETS 328,522 329,104

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 328,422 329,004
SHAREHOLDERS' FUNDS 328,522 329,104

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MIDLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 09437947)

BALANCE SHEET - continued
31 MARCH 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2022 and were signed on its behalf by:





T D Macfarlane - Director


MIDLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 09437947)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Midlands Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Midlands Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 Statement of Income and Retained Earnings, 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.


MIDLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 09437947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued
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 NIL (2021 - 11 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2021 4,818,691 12,121 563,510 71,497 5,465,819
Additions 2,337,119 1,760 368,014 2,000 2,708,893
Disposals (912,018 ) - - - (912,018 )
At 31 March 2022 6,243,792 13,881 931,524 73,497 7,262,694
DEPRECIATION
At 1 April 2021 1,579,215 5,392 182,864 17,026 1,784,497
Charge for year 1,051,683 1,853 155,364 14,128 1,223,028
Eliminated on disposal (417,730 ) - - - (417,730 )
At 31 March 2022 2,213,168 7,245 338,228 31,154 2,589,795
NET BOOK VALUE
At 31 March 2022 4,030,624 6,636 593,296 42,343 4,672,899
At 31 March 2021 3,239,476 6,729 380,646 54,471 3,681,322

MIDLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 09437947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2021
and 31 March 2022 10,101
NET BOOK VALUE
At 31 March 2022 10,101
At 31 March 2021 10,101

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 555,146 482,381
Amounts owed by group undertakings - 26,620
Other debtors 6,824 31,628
561,970 540,629

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 69,928 30,563
Hire purchase contracts 1,218,008 1,179,488
Trade creditors 846,213 198,377
Amounts owed to group undertakings 15,901 -
Other creditors 8,453 3,713
2,158,503 1,412,141

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 240,728 283,719
Hire purchase contracts 2,593,171 2,251,636
2,833,899 2,535,355

MIDLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 09437947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2022 2021
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 17,938 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 3,811,179 3,431,124

Assets financed under hire purchase agreements are secured on the individual assets concerned.

10. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 110,000 102,500

Deferred
tax
£   
Balance at 1 April 2021 102,500
Provided during year 7,500
Balance at 31 March 2022 110,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100