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REGISTERED NUMBER: 10155571 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

MIDESH LTD

MIDESH LTD (REGISTERED NUMBER: 10155571)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDESH LTD

COMPANY INFORMATION
for the year ended 31 August 2023







DIRECTORS: Mrs R K Gill
M M S Gill





REGISTERED OFFICE: 12 Cloister Way
Leamington Spa
United Kingdom
CV32 6QE





REGISTERED NUMBER: 10155571 (England and Wales)






MIDESH LTD (REGISTERED NUMBER: 10155571)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 317
Investment property 5 7,875,000 7,252,280
7,875,000 7,252,597

CURRENT ASSETS
Cash at bank 161,885 254,556

CREDITORS
Amounts falling due within one year 6 905,891 847,408
NET CURRENT LIABILITIES (744,006 ) (592,852 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,130,994

6,659,745

CREDITORS
Amounts falling due after more than one
year

7

(2,931,655

)

(3,200,000

)

PROVISIONS FOR LIABILITIES (570,981 ) (452,664 )
NET ASSETS 3,628,358 3,007,081

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 2,434,182 1,929,779
Retained earnings 1,194,174 1,077,300
3,628,358 3,007,081

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

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

MIDESH LTD (REGISTERED NUMBER: 10155571)

BALANCE SHEET - continued
31 August 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 28 March 2024 and were signed on its behalf by:





M M S Gill - Director


MIDESH LTD (REGISTERED NUMBER: 10155571)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Midesh 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 as modified by the revaluation of certain assets.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

MIDESH LTD (REGISTERED NUMBER: 10155571)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022
and 31 August 2023 1,678
DEPRECIATION
At 1 September 2022 1,361
Charge for year 317
At 31 August 2023 1,678
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 317

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 7,252,280
Revaluations 622,720
At 31 August 2023 7,875,000
NET BOOK VALUE
At 31 August 2023 7,875,000
At 31 August 2022 7,252,280

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2023 7,875,000

The investment property was valued on an open market basis on 22 September 2022 by Vail Williams .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 140,012 35,000
Trade creditors 14,086 14,086
Taxation and social security 31,318 66,067
Other creditors 720,475 732,255
905,891 847,408

MIDESH LTD (REGISTERED NUMBER: 10155571)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,931,655 3,200,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - more than 5 years - 3,200,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,071,667 3,235,000

Svenska Handelsbanken holds charges on the assets of the company.

9. RESERVES
Revaluation
reserve
£   
At 1 September 2022 1,929,779
No description 504,403

At 31 August 2023 2,434,182

10. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.