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REGISTERED NUMBER: 04167186 (England and Wales)










MIDSHIRE SIGNATURE SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MIDSHIRE SIGNATURE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mrs S Bradwell
P Bradwell
M Meek
G Bradwell





REGISTERED OFFICE: Unit A3, Elm House
Oaklands Office Park
Hooton Road
Hooton
Wirral
CH66 7NZ





REGISTERED NUMBER: 04167186 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MIDSHIRE SIGNATURE SERVICES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Midshire Signature Services Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Midshire Signature Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Midshire Signature Services Limited and state those matters that we have agreed to state to the Board of Directors of Midshire Signature Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Midshire Signature Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Midshire Signature Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Midshire Signature Services Limited. You consider that Midshire Signature Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Midshire Signature Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


14 November 2023

MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 111,531 104,938
111,531 104,938

CURRENT ASSETS
Stocks 227,580 186,121
Debtors 6 1,458,509 1,287,966
Cash at bank and in hand 193,725 293,256
1,879,814 1,767,343
CREDITORS
Amounts falling due within one year 7 1,318,953 1,234,823
NET CURRENT ASSETS 560,861 532,520
TOTAL ASSETS LESS CURRENT
LIABILITIES

672,392

637,458

CREDITORS
Amounts falling due after more than one
year

8

(130,000

)

(195,057

)

PROVISIONS FOR LIABILITIES (15,015 ) (14,859 )
NET ASSETS 527,377 427,542

CAPITAL AND RESERVES
Called up share capital 112 112
Retained earnings 527,265 427,430
SHAREHOLDERS' FUNDS 527,377 427,542

MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)

BALANCE SHEET - continued
31 MAY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Mrs S Bradwell - Director


MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Midshire Signature Services 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost and 15% reducing balance

During the year an annual depreciation rate of 10% of cost was introduced for new fixtures and fittings.

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 Income Statement, 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.

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.

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.

MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation (legal and constructive)
resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Employee benefits
The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday
arrangements and defined benefit and defined contribution pension plan

Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
Defined contribution pension plans
The company operates a number of country-specific defined contribution plans for its employees. A defined
contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet.The assets of the plan are held separately from the Group in independently administered funds

Operating lease commitments.
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Going Concern
The company continues to adopt the going concern basis in preparing its financial statements.

Government Grants
Government grants are recognised at the fair value of the asset received or receivable when there is
reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance
conditions are met. Where a grant does not specify performance conditions it is recognised in income
when the proceeds are received or receivable.

Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial I instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.


MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 311 (2022 - 296 ) .

MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 19,587
AMORTISATION
At 1 June 2022
and 31 May 2023 19,587
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 15,413 340,014 16,949 30,409 402,785
Additions - 44,406 - 27,135 71,541
At 31 May 2023 15,413 384,420 16,949 57,544 474,326
DEPRECIATION
At 1 June 2022 9,248 261,862 7,778 18,959 297,847
Charge for year 3,083 50,634 3,390 7,841 64,948
At 31 May 2023 12,331 312,496 11,168 26,800 362,795
NET BOOK VALUE
At 31 May 2023 3,082 71,924 5,781 30,744 111,531
At 31 May 2022 6,165 78,152 9,171 11,450 104,938

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 804,210 754,544
Other debtors 58,702 15,477
862,912 770,021

Amounts falling due after more than one year:
Amounts owed by group undertakings 595,597 517,945

Aggregate amounts 1,458,509 1,287,966

MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 60,877 60,000
Hire purchase contracts 5,057 15,883
Trade creditors 682,857 567,732
Taxation and social security 267,178 220,734
Other creditors 302,984 370,474
1,318,953 1,234,823

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 130,000 190,000
Hire purchase contracts - 5,057
130,000 195,057

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 877 -
Bank loans 190,000 250,000
Hire purchase contracts 5,057 20,940
195,934 270,940

The bank loans and overdraft are secured by a floating charge over the Company's assets and by guarantees give by the directors.

The company trade debtors are assigned to the company's bankers under a debt purchase agreement. The amounts drawn at the year end is £116,077.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mrs S Bradwell
Balance outstanding at start of year - -
Amounts advanced 91,500 91,500
Amounts repaid (91,500 ) (91,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

P Bradwell
Balance outstanding at start of year - -
Amounts advanced 22,875 22,875
Amounts repaid (22,875 ) (22,875 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

MIDSHIRE SIGNATURE SERVICES LIMITED (REGISTERED NUMBER: 04167186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

11. ULTIMATE CONTROLLING PARTY

The company is controlled by S.Bradwell and P.Bradwell who between them have 72% shareholding in the parent Company Midshire Catering Services Limited.