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REGISTERED NUMBER: 08759519 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 October 2023

for

Midland County Construction Ltd

Midland County Construction Ltd (Registered number: 08759519)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Midland County Construction Ltd

Company Information
for the Year Ended 30 October 2023







DIRECTOR: Mrs K L M Toulson





REGISTERED OFFICE: 12 Reedspire
Commercial Way
Sleaford
Lincolnshire
NG34 8GL





REGISTERED NUMBER: 08759519 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Midland County Construction Ltd (Registered number: 08759519)

Balance Sheet
30 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 67,251 81,186
67,251 81,186

CURRENT ASSETS
Debtors 6 795,638 757,953
Cash at bank 123,080 159,271
918,718 917,224
CREDITORS
Amounts falling due within one year 7 593,962 531,900
NET CURRENT ASSETS 324,756 385,324
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,007

466,510

CREDITORS
Amounts falling due after more than one
year

8

(27,389

)

(41,831

)

PROVISIONS FOR LIABILITIES (11,061 ) (12,012 )
NET ASSETS 353,557 412,667

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 352,557 411,667
SHAREHOLDERS' FUNDS 353,557 412,667

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 30 July 2024 and were signed by:





Mrs K L M Toulson - Director


Midland County Construction Ltd (Registered number: 08759519)

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

1. STATUTORY INFORMATION

Midland County Construction 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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill relates to the purchase of building contracts from a company which is no longer solvent. The cost of goodwill is being amortised over its life of 6 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

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

Midland County Construction Ltd (Registered number: 08759519)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 October 2022
and 30 October 2023 3,000
AMORTISATION
At 31 October 2022
and 30 October 2023 3,000
NET BOOK VALUE
At 30 October 2023 -
At 30 October 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 31 October 2022 10,647 139,226 149,873
Additions - 7,350 7,350
At 30 October 2023 10,647 146,576 157,223
DEPRECIATION
At 31 October 2022 5,182 63,505 68,687
Charge for year 1,093 20,192 21,285
At 30 October 2023 6,275 83,697 89,972
NET BOOK VALUE
At 30 October 2023 4,372 62,879 67,251
At 30 October 2022 5,465 75,721 81,186

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 640,789 572,039
Amounts owed by group undertakings 24,742 74,886
Other debtors 130,107 111,028
795,638 757,953

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,911 15,152
Hire purchase contracts 4,688 5,774
Trade creditors 200,081 140,307
Amounts owed to group undertakings 128,446 -
Taxation and social security 241,347 345,247
Other creditors 8,489 25,420
593,962 531,900

Included within 'Amounts owed to group undertakings' is an amount owed of £128,446 [2022: (£50,144)] from Toulson Carpentry & Joinery Ltd, a company in which the majority shareholder, Mrs K Toulson is a director and shareholder.

Midland County Construction Ltd (Registered number: 08759519)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 16,739 26,493
Hire purchase contracts 10,650 15,338
27,389 41,831

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. ULTIMATE CONTROLLING PARTY

The controlling part is Mrs K Toulson.