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
MIDAS REG LIMITED
Company Information
for the year ended 30 April 2022
Company Number
08468992 (England and Wales)
Registered Office
277 FARNHAM ROAD
SLOUGH
SL2 1HA
ENGLAND
MIDAS REG LIMITED
Statement of financial position
as at 30 April 2022
Inventories
100,876
40,698
Cash at bank and in hand
212,011
110,772
Creditors: amounts falling due within one year
(218,337)
(150,654)
Net current assets
94,550
816
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
MIDAS REG LIMITED
Notes to the Accounts
for the year ended 30 April 2022
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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
Taxes and social security
25,722
-
Loans from directors
130,000
150,654
5
Average number of employees
During the year the average number of employees was 1 (2021: 1).