Registered number
04393742
Midland Property Investment Fund Limited
Report and Accounts
30 May 2023
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Midland Property Investment Fund Limited
Registered number: 04393742
Balance Sheet
as at 30 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,235 33,478
Investments 4 1 1
25,236 33,479
Current assets
Stocks 4,474 1,472
Debtors 5 362,976 297,694
Cash at bank and in hand 12,251 5,463
379,701 304,629
Creditors: amounts falling due within one year 6 (326,066) (240,687)
Net current assets 53,635 63,942
Total assets less current liabilities 78,871 97,421
Creditors: amounts falling due after more than one year 7 (31,232) (67,324)
Net assets 47,639 30,097
Capital and reserves
Called up share capital 1 1
Profit and loss account 47,638 30,096
Shareholders' funds 47,639 30,097
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Metcalfe
Director
Approved by the board on 8 August 2023
Midland Property Investment Fund Limited
Notes to the Accounts
for the year ended 30 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% straight Line
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 May 2022 94,995
Additions 6,518
At 30 May 2023 101,513
Depreciation
At 31 May 2022 61,517
Charge for the year 14,761
At 30 May 2023 76,278
Net book value
At 30 May 2023 25,235
At 30 May 2022 33,478
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 31 May 2022 1
At 30 May 2023 1
5 Debtors 2023 2022
£ £
Trade debtors 55,731 54,830
Amounts owed by group undertakings and undertakings in which the company has a participating interest 293,544 234,064
Other debtors 13,701 8,800
362,976 297,694
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 62,784 57,187
Amounts owed to group undertakings and undertakings in which the company has a participating interest 50,275 37,270
Corporation tax 40,984 35,599
Other creditors 172,023 110,631
326,066 240,687
7 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 25,890 44,166
Other creditors 5,342 23,158
31,232 67,324
8 Related party transactions
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.
9 Controlling party
The ultimate controlling company is UK Caring Retirement Homes Ltd, a company incorporated in the UK. 
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