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REGISTERED NUMBER: 08114634 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

MID-TECH (COMPRESSED AIR) LIMITED

MID-TECH (COMPRESSED AIR) LIMITED (REGISTERED NUMBER: 08114634)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MID-TECH (COMPRESSED AIR) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: J H F Kelly-Edwards
M Searle





REGISTERED OFFICE: 33 Coton Road
Nuneaton
Warwickshire
CV11 5TW





REGISTERED NUMBER: 08114634 (England and Wales)





ACCOUNTANTS: Ades Askews
33 Coton Road
Nuneaton
Warwickshire
CV11 5TW

MID-TECH (COMPRESSED AIR) LIMITED (REGISTERED NUMBER: 08114634)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,724 76,995

CURRENT ASSETS
Stocks 81,846 122,010
Debtors 5 361,616 315,730
Cash at bank and in hand 41,067 82,237
484,529 519,977
CREDITORS
Amounts falling due within one year 6 300,382 344,259
NET CURRENT ASSETS 184,147 175,718
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,871

252,713

CAPITAL AND RESERVES
Called up share capital 93 93
Retained earnings 7 241,778 252,620
SHAREHOLDERS' FUNDS 241,871 252,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 24 November 2023 and were signed on its behalf by:





J H F Kelly-Edwards - Director


MID-TECH (COMPRESSED AIR) LIMITED (REGISTERED NUMBER: 08114634)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Mid-Tech (Compressed Air) 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.

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.

Invoices are raised at the date of supply of service and/or materials.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MID-TECH (COMPRESSED AIR) LIMITED (REGISTERED NUMBER: 08114634)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022
and 30 June 2023 6,400 12,310 112,967 4,683 136,360
DEPRECIATION
At 1 July 2022 6,113 9,489 39,080 4,683 59,365
Charge for year 95 705 18,471 - 19,271
At 30 June 2023 6,208 10,194 57,551 4,683 78,636
NET BOOK VALUE
At 30 June 2023 192 2,116 55,416 - 57,724
At 30 June 2022 287 2,821 73,887 - 76,995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 359,786 312,919
Prepayments 1,830 2,811
361,616 315,730

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 151,593 175,726
Tax 38,160 47,721
Social security and other taxes 6,411 9,158
Wages control - 1,920
Pension - 1,726
VAT 30,865 30,070
Other creditors 39,545 46,290
Directors' current accounts 13,986 11,986
Accrued expenses 19,822 19,662
300,382 344,259

MID-TECH (COMPRESSED AIR) LIMITED (REGISTERED NUMBER: 08114634)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. RESERVES
Retained
earnings
£   

At 1 July 2022 252,620
Profit for the year 141,683
Dividends (152,525 )
At 30 June 2023 241,778