IRIS Accounts Production v23.3.0.418 05512353 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055123532022-07-31055123532023-07-31055123532022-08-012023-07-31055123532021-07-31055123532021-08-012022-07-31055123532022-07-3105512353ns10:Originalns15:EnglandWales2022-08-012023-07-3105512353ns14:PoundSterlingns10:Original2022-08-012023-07-3105512353ns10:Originalns10:Director12022-08-012023-07-3105512353ns10:Original2022-08-012023-07-3105512353ns10:Original2023-07-3105512353ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3105512353ns10:Originalns10:SmallEntities2022-08-012023-07-3105512353ns10:Originalns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3105512353ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3105512353ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3105512353ns10:Originalns10:FullAccounts2022-08-012023-07-3105512353ns10:Originalns10:Director22022-08-012023-07-3105512353ns10:CompanySecretary1ns10:Original2022-08-012023-07-3105512353ns10:Originalns10:CompanySecretary22022-08-012023-07-3105512353ns10:Originalns10:RegisteredOffice2022-08-012023-07-3105512353ns10:Original2022-07-3105512353ns10:Originalns5:CurrentFinancialInstruments2023-07-3105512353ns10:Originalns5:CurrentFinancialInstruments2022-07-3105512353ns10:Originalns5:Non-currentFinancialInstruments2023-07-3105512353ns10:Originalns5:Non-currentFinancialInstruments2022-07-3105512353ns5:ShareCapitalns10:Original2023-07-3105512353ns5:ShareCapitalns10:Original2022-07-3105512353ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3105512353ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3105512353ns10:Original2021-08-012022-07-3105512353ns10:Originalns5:PlantMachinery2022-07-3105512353ns10:Originalns5:PlantMachinery2022-08-012023-07-3105512353ns10:Originalns5:PlantMachinery2023-07-3105512353ns10:Originalns5:PlantMachinery2022-07-3105512353ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3105512353ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-31
REGISTERED NUMBER: 05512353 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Midland Air Systems Limited

Midland Air Systems Limited (Registered number: 05512353)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Midland Air Systems Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J A Maskill
R J Mills





SECRETARIES: Mrs C Maskill
Mrs S L Mills





REGISTERED OFFICE: Unit F Maybrook Industrial Estate
Maybrook Road
Walsall
West Midlands
WS8 7DG





REGISTERED NUMBER: 05512353 (England and Wales)





ACCOUNTANTS: CJM Associates
St Thomas House
83 Wolverhampton Road
Cannock
Staffordshire
WS11 1AR

Midland Air Systems Limited (Registered number: 05512353)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 147,017 162,633

CURRENT ASSETS
Debtors 5 390,321 761,285
Cash at bank and in hand 263,570 33,624
653,891 794,909
CREDITORS
Amounts falling due within one year 6 399,435 545,273
NET CURRENT ASSETS 254,456 249,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,473

412,269

CREDITORS
Amounts falling due after more than one year 7 (138,583 ) (150,176 )

PROVISIONS FOR LIABILITIES (27,900 ) (30,900 )
NET ASSETS 234,990 231,193

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 233,990 230,193
234,990 231,193

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

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

Midland Air Systems Limited (Registered number: 05512353)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





R J Mills - Director


Midland Air Systems Limited (Registered number: 05512353)

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

1. STATUTORY INFORMATION

Midland Air Systems 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.

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.

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 10 (2022 - 4 ) .

Midland Air Systems Limited (Registered number: 05512353)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 254,560
Additions 53,419
Disposals (42,500 )
At 31 July 2023 265,479
DEPRECIATION
At 1 August 2022 91,927
Charge for year 49,805
Eliminated on disposal (23,270 )
At 31 July 2023 118,462
NET BOOK VALUE
At 31 July 2023 147,017
At 31 July 2022 162,633

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 331,759 619,203
Other debtors 58,562 142,082
390,321 761,285

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,034 10,648
Hire purchase contracts 18,894 37,651
Trade creditors 309,458 467,092
Taxation and social security 38,958 19,142
Other creditors 22,091 10,740
399,435 545,273

Midland Air Systems Limited (Registered number: 05512353)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 19,066 28,238
Hire purchase contracts 119,517 121,938
138,583 150,176