Registered number
08158789
Midland Prestige Hire Ltd
Filleted Accounts
31 July 2023
Midland Prestige Hire Ltd
Registered number: 08158789
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 19,968 24,960
19,968 24,960
Current assets
Cash at bank and in hand 32,018 23,454
32,018 23,454
Creditors: amounts falling due within one year 4 (2,223) (3,882)
Net current assets 29,795 19,572
Total assets less current liabilities 49,763 44,532
Net assets 49,763 44,532
Capital and reserves
Called up share capital 100 100
Profit and loss account 49,663 44,432
Shareholders' funds 49,763 44,532
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Rais Mohammed
Director
Approved by the board on 15 April 2024
Midland Prestige Hire Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 - - 40,000 40,000
At 31 July 2023 - - 40,000 40,000
Depreciation
At 1 August 2022 - - 15,040 15,040
Charge for the year - - 4,992 4,992
At 31 July 2023 - - 20,032 20,032
Net book value
At 31 July 2023 - - 19,968 19,968
At 31 July 2022 - - 24,960 24,960
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,263 2,922
Other creditors 960 960
2,223 3,882
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