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REGISTERED NUMBER: 06973166 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 30 September 2023

for

Midland Vans Online Limited

Midland Vans Online Limited (Registered number: 06973166)






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




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Midland Vans Online Limited (Registered number: 06973166)

Abridged Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,453 2,609

CURRENT ASSETS
Stocks 89,128 118,778
Debtors 168,025 204,025
Cash at bank 333,282 378,164
590,435 700,967
CREDITORS
Amounts falling due within one year 28,428 68,756
NET CURRENT ASSETS 562,007 632,211
TOTAL ASSETS LESS CURRENT
LIABILITIES

602,460

634,820

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 602,360 634,720
602,460 634,820

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 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.

Midland Vans Online Limited (Registered number: 06973166)

Abridged Balance Sheet - continued
30 September 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





Mr E R P Orgee - Director


Midland Vans Online Limited (Registered number: 06973166)

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

1. STATUTORY INFORMATION

Midland Vans Online 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: 06973166

Registered office: Midland Vans Online Ltd
Unit 7 Portway Motor Centre
Alcester Road, Portway
Birmingham
B48 7JA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% 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.

Midland Vans Online Limited (Registered number: 06973166)

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

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 5,547
Additions 38,235
At 30 September 2023 43,782
DEPRECIATION
At 1 October 2022 2,938
Charge for year 391
At 30 September 2023 3,329
NET BOOK VALUE
At 30 September 2023 40,453
At 30 September 2022 2,609

Midland Vans Online Limited (Registered number: 06973166)

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

5. RELATED PARTY DISCLOSURES

Included within debtors is a loan of £167,500 (£180,000 - 2022) to a company in which the Director also has an interest. The loan is interest free and repayable on demand.