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REGISTERED NUMBER: 12479060 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

ACTION TRACTION MIDLANDS LTD

ACTION TRACTION MIDLANDS LTD (Registered number: 12479060)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


ACTION TRACTION MIDLANDS LTD

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S MULLINS





SECRETARY: MERLIN BUSINESS SERVICES UK LTD





REGISTERED OFFICE: STAFFORDSHIRE KNOT
PINFOLD STREET
WEDNESBURY
WS10 8TE





REGISTERED NUMBER: 12479060 (England and Wales)





ACCOUNTANTS: MERLIN ACCOUNTANCY & PAYROLE SERVICES LTD
STAFFORDSHIRE KNOT
PINFOLD STREET
WEDNESBURY
WS10 8TE

ACTION TRACTION MIDLANDS LTD (Registered number: 12479060)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

DIRECTOR
S MULLINS held office during the whole of the period from 1 April 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S MULLINS - Director


1 November 2023

ACTION TRACTION MIDLANDS LTD (Registered number: 12479060)

Income Statement
for the Year Ended 31 March 2023

31/3/23 31/3/22
Notes £    £   

TURNOVER 175,572 222,624

Cost of sales 109,179 133,602
GROSS PROFIT 66,393 89,022

Administrative expenses 49,140 30,689
OPERATING PROFIT 4 17,253 58,333


Interest payable and similar expenses - 486
PROFIT BEFORE TAXATION 17,253 57,847

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR 17,253 57,847

ACTION TRACTION MIDLANDS LTD (Registered number: 12479060)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 71,225 76,225

CURRENT ASSETS
Cash at bank and in hand 23,316 28,389

CREDITORS
Amounts falling due within one year 6 3,090 8,768
NET CURRENT ASSETS 20,226 19,621
TOTAL ASSETS LESS CURRENT LIABILITIES 91,451 95,846

CREDITORS
Amounts falling due after more than one year 7 35,670 46,318
NET ASSETS 55,781 49,528

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 55,780 49,527
SHAREHOLDERS' FUNDS 55,781 49,528

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 1 November 2023 and were signed by:





S MULLINS - Director


ACTION TRACTION MIDLANDS LTD (Registered number: 12479060)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

ACTION TRACTION MIDLANDS LTD 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31/3/23 31/3/22
£    £   
Depreciation - owned assets 5,000 5,000

ACTION TRACTION MIDLANDS LTD (Registered number: 12479060)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 81,225
DEPRECIATION
At 1 April 2022 5,000
Charge for year 5,000
At 31 March 2023 10,000
NET BOOK VALUE
At 31 March 2023 71,225
At 31 March 2022 76,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 6 6
Tax (2,409 ) (2,409 )
VAT 2,588 7,969
Directors' current accounts 705 2,442
Accrued expenses 2,200 760
3,090 8,768

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Bounce Back Loan 31,852 42,500
Hire purchase contracts 3,818 3,818
35,670 46,318