1 March 2022 false No description of principal activity Taxfiler 2023.10.1 true 09986313business:PrivateLimitedCompanyLtd2022-03-012023-02-28 099863132022-02-28 099863132022-03-012023-02-28 09986313business:AuditExemptWithAccountantsReport2022-03-012023-02-28 09986313business:FilletedAccounts2022-03-012023-02-28 099863132023-02-28 09986313business:Director12022-03-012023-02-28 09986313business:RegisteredOffice2022-03-012023-02-28 099863132022-02-28 09986313core:WithinOneYear2023-02-28 09986313core:WithinOneYear2022-02-28 09986313core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 09986313core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 09986313core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 09986313core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 09986313core:PreviouslyStatedAmount2023-02-28 09986313core:PreviouslyStatedAmount2022-02-28 09986313business:SmallEntities2022-03-012023-02-28 09986313countries:EnglandWales2022-03-012023-02-28 09986313core:ComputerEquipment2022-03-012023-02-28 09986313core:PlantMachinery2022-02-28 09986313core:ComputerEquipment2022-02-28 09986313core:PlantMachinery2022-03-012023-02-28 09986313core:PlantMachinery2023-02-28 09986313core:ComputerEquipment2023-02-28 099863132021-03-012022-02-28 iso4217:GBP xbrli:pure
Company Registration No. 09986313 (England and Wales)
Midmer Limited Unaudited accounts for the year ended 28 February 2023
Midmer Limited Unaudited accounts Contents
Page
- 2 -
Midmer Limited Company Information for the year ended 28 February 2023
Director
J Midmer
Company Number
09986313 (England and Wales)
Registered Office
BROOKSIDE RIDDENS CLOSE PLUMPTON GREEN LEWES BN7 3BP ENGLAND
Accountants
SA Ledgers Ltd 57 Canbury Park Road Kingston KT2 6LQ
- 3 -
Midmer Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,122 
3,174 
Current assets
Debtors
23,808 
4,271 
Cash at bank and in hand
131,244 
225,268 
155,052 
229,539 
Creditors: amounts falling due within one year
(49,333)
(102,302)
Net current assets
105,719 
127,237 
Net assets
109,841 
130,411 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
109,741 
130,311 
Shareholders' funds
109,841 
130,411 
For the year ending 28 February 2023 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 20 November 2023 and were signed on its behalf by
J Midmer Director Company Registration No. 09986313
- 4 -
Midmer Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Midmer Limited is a private company, limited by shares, registered in England and Wales, registration number 09986313. The registered office is BROOKSIDE RIDDENS CLOSE, PLUMPTON GREEN, LEWES, BN7 3BP, 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:
Computer equipment
4 years
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
Midmer Limited Notes to the Accounts for the year ended 28 February 2023
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
Going concern
After reviewing the company’s forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
- 
4,226 
4,226 
Additions
1,383 
907 
2,290 
At 28 February 2023
1,383 
5,133 
6,516 
Depreciation
At 1 March 2022
- 
1,052 
1,052 
Charge for the year
115 
1,227 
1,342 
At 28 February 2023
115 
2,279 
2,394 
Net book value
At 28 February 2023
1,268 
2,854 
4,122 
At 28 February 2022
- 
3,174 
3,174 
- 6 -
Midmer Limited Notes to the Accounts for the year ended 28 February 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
857 
4,271 
Trade debtors
22,951 
- 
23,808 
4,271 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
34,135 
13,737 
Trade creditors
11,427 
2,556 
Taxes and social security
(3,921)
21,294 
Other creditors
587 
- 
Loans from directors
4,030 
14,451 
Accruals
3,075 
50,264 
49,333 
102,302 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
- 7 -