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REGISTERED NUMBER: 03100506 (England and Wales)















Midland Jetting Services Limited

Financial Statements for the Year Ended 30 September 2023






Midland Jetting Services Limited (Registered number: 03100506)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Midland Jetting Services Limited (Registered number: 03100506)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 104,526 53,987

CURRENT ASSETS
Stocks 44,603 39,121
Debtors 5 89,332 80,346
Cash at bank and in hand 296,300 275,370
430,235 394,837
CREDITORS
Amounts falling due within one year 6 87,980 73,758
NET CURRENT ASSETS 342,255 321,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

446,781

375,066

CREDITORS
Amounts falling due after more than one year 7 (14,146 ) (4,455 )

PROVISIONS FOR LIABILITIES (19,861 ) (10,258 )
NET ASSETS 412,774 360,353

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 412,684 360,263
SHAREHOLDERS' FUNDS 412,774 360,353

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 7 March 2024 and were signed on its behalf by:



M A Willis - Director


Midland Jetting Services Limited (Registered number: 03100506)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Midland Jetting Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03100506

Registered office: Unit 4 Kingfisher Ind. Est
Charles Street
West Bromwich
B70 0AT

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.
Plant and machinery etc - 25% 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.

Midland Jetting Services Limited (Registered number: 03100506)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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 4 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 235,590
Additions 70,156
Disposals (12,750 )
At 30 September 2023 292,996
DEPRECIATION
At 1 October 2022 181,603
Charge for year 19,079
Eliminated on disposal (12,212 )
At 30 September 2023 188,470
NET BOOK VALUE
At 30 September 2023 104,526
At 30 September 2022 53,987

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 86,400 77,881
Other debtors 2,932 2,465
89,332 80,346

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 6,648 3,625
Trade creditors 25,371 17,105
Taxation and social security 29,268 39,734
Other creditors 26,693 13,294
87,980 73,758

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 14,146 4,455

Midland Jetting Services Limited (Registered number: 03100506)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. ULTIMATE CONTROLLING PARTY

The controlling party is M A Willis.