REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
MIDLAND ASSURED FINANCE LIMITED |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
MIDLAND ASSURED FINANCE LIMITED |
MIDLAND ASSURED FINANCE LIMITED (REGISTERED NUMBER: 00750042) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2022 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MIDLAND ASSURED FINANCE LIMITED |
COMPANY INFORMATION |
for the year ended 31 March 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
15 Colmore Row |
Birmingham |
MIDLAND ASSURED FINANCE LIMITED (REGISTERED NUMBER: 00750042) |
ABRIDGED BALANCE SHEET |
31 March 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
MIDLAND ASSURED FINANCE LIMITED (REGISTERED NUMBER: 00750042) |
ABRIDGED BALANCE SHEET - continued |
31 March 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MIDLAND ASSURED FINANCE LIMITED (REGISTERED NUMBER: 00750042) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2022 |
1. | STATUTORY INFORMATION |
Midland Assured Finance Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year. |
Preparation of consolidated financial statements |
The financial statements contain information about Midland Assured Finance 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. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover comprises the value of interest receivable for loans supplied. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, financial instruments are measured at amortised cost using the effective interest rate method, less impairment. |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the income statement. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 | 643,948 |
NET BOOK VALUE |
At 31 March 2022 | 643,948 |
At 31 March 2021 | 643,948 |
MIDLAND ASSURED FINANCE LIMITED (REGISTERED NUMBER: 00750042) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Balances included within trade debtors due less than one year and over one year are to connected entities under the same directorships but not under the same ownership. |
6. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £40,500 (2021 - £40,500) were voted to Dr L A Davis. |
During the year, total dividends of £8,000 (2021 - £3,300) were voted to P J Davis. |