IRIS Accounts Production v24.1.0.578 05946685 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 26317 26317 5500 31817 26317 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh059466852022-12-31059466852023-12-31059466852023-01-012023-12-31059466852021-12-31059466852022-01-012022-12-31059466852022-12-3105946685ns15:EnglandWales2023-01-012023-12-3105946685ns14:PoundSterling2023-01-012023-12-3105946685ns10:Director12023-01-012023-12-3105946685ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105946685ns10:SmallEntities2023-01-012023-12-3105946685ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105946685ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105946685ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105946685ns10:FullAccounts2023-01-012023-12-3105946685ns10:OrdinaryShareClass12023-01-012023-12-310594668542ns10:Director22022-12-310594668542ns10:Director22021-12-310594668542ns10:Director22023-01-012023-12-310594668542ns10:Director22023-12-310594668542ns10:Director22022-12-3105946685ns10:Director22023-01-012023-12-3105946685ns10:CompanySecretary12023-01-012023-12-3105946685ns10:RegisteredOffice2023-01-012023-12-3105946685ns5:CurrentFinancialInstruments2023-12-3105946685ns5:CurrentFinancialInstruments2022-12-3105946685ns5:Non-currentFinancialInstruments2023-12-3105946685ns5:Non-currentFinancialInstruments2022-12-3105946685ns5:ShareCapital2023-12-3105946685ns5:ShareCapital2022-12-3105946685ns5:RetainedEarningsAccumulatedLosses2023-12-3105946685ns5:RetainedEarningsAccumulatedLosses2022-12-3105946685ns5:FurnitureFittings2023-01-012023-12-3105946685ns5:ComputerEquipment2023-01-012023-12-3105946685ns5:FurnitureFittings2022-12-3105946685ns5:ComputerEquipment2022-12-3105946685ns5:FurnitureFittings2023-12-3105946685ns5:ComputerEquipment2023-12-3105946685ns5:FurnitureFittings2022-12-3105946685ns5:ComputerEquipment2022-12-3105946685ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105946685ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105946685ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3105946685ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3105946685ns10:OrdinaryShareClass12023-12-31059466851ns10:Director12022-12-31059466851ns10:Director12021-12-31059466851ns10:Director12023-01-012023-12-31059466851ns10:Director12022-01-012022-12-31059466851ns10:Director12023-12-31059466851ns10:Director12022-12-31
REGISTERED NUMBER: 05946685 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MIDWAY CLOTHING LIMITED

MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDWAY CLOTHING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S J Widdowson
Mrs S J Widdowson





SECRETARY: Mrs S J Widdowson





REGISTERED OFFICE: 29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA





REGISTERED NUMBER: 05946685 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,682 2,306

CURRENT ASSETS
Stocks 14,985 10,159
Debtors 5 69,001 75,949
Cash at bank 5,084 -
89,070 86,108
CREDITORS
Amounts falling due within one year 6 85,918 63,883
NET CURRENT ASSETS 3,152 22,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,834

24,531

CREDITORS
Amounts falling due after more than one year 7 4,442 7,484
NET ASSETS 392 17,047

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 382 17,037
SHAREHOLDERS' FUNDS 392 17,047

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

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

MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by:





S J Widdowson - Director


MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

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

1. STATUTORY INFORMATION

Midway Clothing 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 a the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when sufficient risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.This is usually on dispatch of goods.

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 reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost (ot deemed cost) or valuation less accumulated depreciation and accumulated impairment loses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 Statement of Income and Retained Earnings, 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.


MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

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

2. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 4,721 1,632 6,353
DEPRECIATION
At 1 January 2023 3,639 408 4,047
Charge for year 216 408 624
At 31 December 2023 3,855 816 4,671
NET BOOK VALUE
At 31 December 2023 866 816 1,682
At 31 December 2022 1,082 1,224 2,306

MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 30,605 43,053
Other debtors 6,579 6,579
Directors' current accounts 31,817 26,317
69,001 75,949

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 3,042 3,095
Trade creditors 54,791 36,631
Corporation tax 19,498 15,307
Social security and other taxes 7,138 7,457
Other creditors 1,449 1,393
85,918 63,883

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 4,442 7,484

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
10 Ordinary £1 10 10

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.23 31.12.22
£    £   
S J Widdowson and Mrs S J Widdowson
Balance outstanding at start of year 26,317 26,317
Amounts advanced 5,500 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,817 26,317

No interest has been charged in the year.