2022-08-012023-07-312023-07-31false01037650MIDCLIFF LIMITED2023-10-1343999iso4217:GBPxbrli:pure010376502022-08-01010376502023-07-31010376502022-08-012023-07-31010376502021-08-01010376502022-07-31010376502021-08-012022-07-3101037650bus:SmallEntities2022-08-012023-07-3101037650bus:AuditExempt-NoAccountantsReport2022-08-012023-07-3101037650bus:FullAccounts2022-08-012023-07-3101037650bus:PrivateLimitedCompanyLtd2022-08-012023-07-3101037650core:WithinOneYear2023-07-3101037650core:AfterOneYear2023-07-3101037650core:WithinOneYear2022-07-3101037650core:AfterOneYear2022-07-3101037650core:ShareCapital2023-07-3101037650core:SharePremium2023-07-3101037650core:RevaluationReserve2023-07-3101037650core:OtherReservesSubtotal2023-07-3101037650core:RetainedEarningsAccumulatedLosses2023-07-3101037650core:ShareCapital2022-07-3101037650core:SharePremium2022-07-3101037650core:RevaluationReserve2022-07-3101037650core:OtherReservesSubtotal2022-07-3101037650core:RetainedEarningsAccumulatedLosses2022-07-3101037650core:LandBuildings2023-07-3101037650core:PlantMachinery2023-07-3101037650core:Vehicles2023-07-3101037650core:FurnitureFittings2023-07-3101037650core:OfficeEquipment2023-07-3101037650core:NetGoodwill2023-07-3101037650core:IntangibleAssetsOtherThanGoodwill2023-07-3101037650core:ListedExchangeTraded2023-07-3101037650core:UnlistedNon-exchangeTraded2023-07-3101037650core:LandBuildings2022-07-3101037650core:PlantMachinery2022-07-3101037650core:Vehicles2022-07-3101037650core:FurnitureFittings2022-07-3101037650core:OfficeEquipment2022-07-3101037650core:NetGoodwill2022-07-3101037650core:IntangibleAssetsOtherThanGoodwill2022-07-3101037650core:ListedExchangeTraded2022-07-3101037650core:UnlistedNon-exchangeTraded2022-07-3101037650core:LandBuildings2022-08-012023-07-3101037650core:PlantMachinery2022-08-012023-07-3101037650core:Vehicles2022-08-012023-07-3101037650core:FurnitureFittings2022-08-012023-07-3101037650core:OfficeEquipment2022-08-012023-07-3101037650core:NetGoodwill2022-08-012023-07-3101037650core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3101037650core:ListedExchangeTraded2022-08-012023-07-3101037650core:UnlistedNon-exchangeTraded2022-08-012023-07-3101037650core:MoreThanFiveYears2022-08-012023-07-3101037650core:Non-currentFinancialInstruments2023-07-3101037650core:Non-currentFinancialInstruments2022-07-3101037650dpl:CostSales2022-08-012023-07-3101037650dpl:DistributionCosts2022-08-012023-07-3101037650core:LandBuildings2022-08-012023-07-3101037650core:PlantMachinery2022-08-012023-07-3101037650core:Vehicles2022-08-012023-07-3101037650core:FurnitureFittings2022-08-012023-07-3101037650core:OfficeEquipment2022-08-012023-07-3101037650dpl:AdministrativeExpenses2022-08-012023-07-3101037650core:NetGoodwill2022-08-012023-07-3101037650core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3101037650dpl:GroupUndertakings2022-08-012023-07-3101037650dpl:ParticipatingInterests2022-08-012023-07-3101037650dpl:GroupUndertakingscore:ListedExchangeTraded2022-08-012023-07-3101037650core:ListedExchangeTraded2022-08-012023-07-3101037650dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-08-012023-07-3101037650core:UnlistedNon-exchangeTraded2022-08-012023-07-3101037650dpl:CostSales2021-08-012022-07-3101037650dpl:DistributionCosts2021-08-012022-07-3101037650core:LandBuildings2021-08-012022-07-3101037650core:PlantMachinery2021-08-012022-07-3101037650core:Vehicles2021-08-012022-07-3101037650core:FurnitureFittings2021-08-012022-07-3101037650core:OfficeEquipment2021-08-012022-07-3101037650dpl:AdministrativeExpenses2021-08-012022-07-3101037650core:NetGoodwill2021-08-012022-07-3101037650core:IntangibleAssetsOtherThanGoodwill2021-08-012022-07-3101037650dpl:GroupUndertakings2021-08-012022-07-3101037650dpl:ParticipatingInterests2021-08-012022-07-3101037650dpl:GroupUndertakingscore:ListedExchangeTraded2021-08-012022-07-3101037650core:ListedExchangeTraded2021-08-012022-07-3101037650dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-08-012022-07-3101037650core:UnlistedNon-exchangeTraded2021-08-012022-07-3101037650core:NetGoodwill2023-07-3101037650core:IntangibleAssetsOtherThanGoodwill2023-07-3101037650core:LandBuildings2023-07-3101037650core:PlantMachinery2023-07-3101037650core:Vehicles2023-07-3101037650core:FurnitureFittings2023-07-3101037650core:OfficeEquipment2023-07-3101037650core:AfterOneYear2023-07-3101037650core:WithinOneYear2023-07-3101037650core:ListedExchangeTraded2023-07-3101037650core:UnlistedNon-exchangeTraded2023-07-3101037650core:ShareCapital2023-07-3101037650core:SharePremium2023-07-3101037650core:RevaluationReserve2023-07-3101037650core:OtherReservesSubtotal2023-07-3101037650core:RetainedEarningsAccumulatedLosses2023-07-3101037650core:NetGoodwill2022-07-3101037650core:IntangibleAssetsOtherThanGoodwill2022-07-3101037650core:LandBuildings2022-07-3101037650core:PlantMachinery2022-07-3101037650core:Vehicles2022-07-3101037650core:FurnitureFittings2022-07-3101037650core:OfficeEquipment2022-07-3101037650core:AfterOneYear2022-07-3101037650core:WithinOneYear2022-07-3101037650core:ListedExchangeTraded2022-07-3101037650core:UnlistedNon-exchangeTraded2022-07-3101037650core:ShareCapital2022-07-3101037650core:SharePremium2022-07-3101037650core:RevaluationReserve2022-07-3101037650core:OtherReservesSubtotal2022-07-3101037650core:RetainedEarningsAccumulatedLosses2022-07-3101037650core:NetGoodwill2021-08-0101037650core:IntangibleAssetsOtherThanGoodwill2021-08-0101037650core:LandBuildings2021-08-0101037650core:PlantMachinery2021-08-0101037650core:Vehicles2021-08-0101037650core:FurnitureFittings2021-08-0101037650core:OfficeEquipment2021-08-0101037650core:AfterOneYear2021-08-0101037650core:WithinOneYear2021-08-0101037650core:ListedExchangeTraded2021-08-0101037650core:UnlistedNon-exchangeTraded2021-08-0101037650core:ShareCapital2021-08-0101037650core:SharePremium2021-08-0101037650core:RevaluationReserve2021-08-0101037650core:OtherReservesSubtotal2021-08-0101037650core:RetainedEarningsAccumulatedLosses2021-08-0101037650core:AfterOneYear2022-08-012023-07-3101037650core:WithinOneYear2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:CostValuation2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-08-012023-07-3101037650core:Non-currentFinancialInstrumentscore:CostValuation2023-07-3101037650core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-07-3101037650core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-07-3101037650core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-07-3101037650core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-07-3101037650core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-07-3101037650core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-07-3101037650core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-07-3101037650core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-07-3101037650core:Non-currentFinancialInstrumentscore:CostValuation2022-07-3101037650core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-07-3101037650core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-07-3101037650core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-07-3101037650core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-07-3101037650core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-07-3101037650core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-07-3101037650core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-07-3101037650core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-07-3101037650bus:Director12022-08-012023-07-3101037650bus:Director22022-08-012023-07-31

MIDCLIFF LIMITED

Registered Number
01037650
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

MIDCLIFF LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

MORTON, Brian Harold Frederick
MORTON, Phillip John

Registered Address

39 Winfield Street
Dunstable
Bedfordshire
LU6 1LS

Registered Number

01037650 (England and Wales)
MIDCLIFF LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5338,539338,235
Investment property6160,000160,000
498,539498,235
Current assets
Stocks829,13330,982
Debtors91,590,1921,040,172
Cash at bank and on hand34,116-
1,653,4411,071,154
Creditors amounts falling due within one year10(632,120)(569,825)
Net current assets (liabilities)1,021,321501,329
Total assets less current liabilities1,519,860999,564
Creditors amounts falling due after one year11(975,168)(472,524)
Provisions for liabilities12-(13,963)
Net assets544,692513,077
Capital and reserves
Called up share capital100100
Profit and loss account544,592512,977
Shareholders' funds544,692513,077
The financial statements were approved and authorised for issue by the Board of Directors on 13 October 2023, and are signed on its behalf by:
MORTON, Phillip John
Director
Registered Company No. 01037650
MIDCLIFF LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year66
5.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 August 22300,00027,10185,13676,561488,798
Additions-32740,2996,12746,753
Disposals--(67,594)-(67,594)
At 31 July 23300,00027,42857,84182,688467,957
Depreciation and impairment
At 01 August 22-21,66761,15767,739150,563
Charge for year-1,81016,0702,94120,821
On disposals--(41,966)-(41,966)
At 31 July 23-23,47735,26170,680129,418
Net book value
At 31 July 23300,0003,95122,58012,008338,539
At 31 July 22300,0005,43423,9798,822338,235
6.Investment property

£
Fair value at 01 August 22160,000
At 31 July 23160,000
7.Dividends proposed and payable

2023

2022

££
Dividends Paid106,67647,721
Total106,67647,721
8.Stocks

2023

2022

££
Raw materials and consumables29,13330,982
Total29,13330,982
9.Debtors

2023

2022

££
Trade debtors / trade receivables1,197,754748,453
Other debtors387,313289,624
Prepayments and accrued income5,1252,095
Total1,590,1921,040,172
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables267,455135,792
Bank borrowings and overdrafts159-
Taxation and social security195,102203,475
Other creditors134,105135,507
Accrued liabilities and deferred income35,29995,051
Total632,120569,825
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts975,168472,524
Total975,168472,524
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-13,963
Total-13,963