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Company Registration No. 08468992 (England and Wales)
MIDAS REG LIMITED Unaudited accounts for the year ended 30 April 2022
MIDAS REG LIMITED Unaudited accounts Contents
Page
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MIDAS REG LIMITED Company Information for the year ended 30 April 2022
Director
Sajid IQBAL
Company Number
08468992 (England and Wales)
Registered Office
277 FARNHAM ROAD SLOUGH SL2 1HA ENGLAND
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MIDAS REG LIMITED Statement of financial position as at 30 April 2022
2022 
2021 
Notes
£ 
£ 
Current assets
Inventories
100,876 
40,698 
Cash at bank and in hand
212,011 
110,772 
312,887 
151,470 
Creditors: amounts falling due within one year
(218,337)
(150,654)
Net current assets
94,550 
816 
Net assets
94,550 
816 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
94,450 
716 
Shareholders' funds
94,550 
816 
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 October 2023 and were signed on its behalf by
Sajid IQBAL Director Company Registration No. 08468992
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MIDAS REG LIMITED Notes to the Accounts for the year ended 30 April 2022
1
Statutory information
MIDAS REG LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08468992. The registered office is 277 FARNHAM ROAD, SLOUGH, SL2 1HA, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
24,864 
- 
Trade creditors
37,751 
- 
Taxes and social security
25,722 
- 
Loans from directors
130,000 
150,654 
218,337 
150,654 
5
Average number of employees
During the year the average number of employees was 1 (2021: 1).
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