2023-04-01 07994359 2024-03-31 07994359 2023-04-01 2024-03-31 07994359 2023-03-31 07994359 2022-04-01 2023-03-31 07994359 uk-core:WithinOneYear 2023-03-31 07994359 uk-core:WithinOneYear 2024-03-31 07994359 uk-core:ShareCapital 2024-03-31 07994359 uk-core:ShareCapital 2023-03-31 07994359 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 07994359 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 07994359 uk-bus:Director1 2023-04-01 2024-03-31 07994359 uk-core:PlantMachinery 2023-04-01 2024-03-31 07994359 uk-core:CommercialMotorVehicles 2023-04-01 2024-03-31 07994359 uk-core:CommercialMotorVehicles 2023-03-31 07994359 uk-core:PlantMachinery 2023-03-31 07994359 uk-core:PlantMachinery 2024-03-31 07994359 uk-core:CommercialMotorVehicles 2024-03-31 iso4217:GBP xbrli:pure 07994359 uk-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07994359 uk-bus:FRS102 2023-04-01 2024-03-31 07994359 uk-bus:FilletedAccounts 2023-04-01 2024-03-31 07994359 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
MIDLANDS WELDING SOLUTIONS LIMITED
Registered Number:07994359
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
MIDLANDS WELDING SOLUTIONS LIMITED
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
07994359
As at 31 March 2024
MIDLANDS WELDING SOLUTIONS LIMITED
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
7,592
8,972
2
7,592
8,972
Current assets
Trade and other receivables
15,264
17,903
3
25,496
Cash and cash equivalents
29,097
47,000
40,760
Trade and other payables: amounts falling due within one
year
(12,020)
(12,819)
4
28,740
34,181
Net current assets
Total assets less current liabilities
41,773
37,712
(1,533)
(1,705)
Provisions for liabilities
40,240
Net assets
36,007
Capital and reserves
Called up share capital
1
1
Retained earnings
40,239
36,006
40,240
36,007
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mark Anthony Coughlan Director
These financial statements were approved and authorised for issue by the Board on 05 August 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2024
MIDLANDS WELDING SOLUTIONS LIMITED
Notes to the Financial Statements
Statutory Information
MIDLANDS WELDING SOLUTIONS LIMITED is a private limited company, limited by shares, domiciled in England
and Wales, registration number 07994359.
Registered address:
46 Middle Lane
Nether Whitacre
Coleshill
B46 2HY
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Property, plant and equipment are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
25% Reducing balance
Motor vehicles
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Assets held under finance leases and hire purchase agreements are capitalised in the balance sheet and depreciated in accordance with the company's normal accounting policies. The interest is charged to the profit and loss account over the period of the agreement and represents a constant charge of the balance of capital repayments outstanding.
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5
For the year ended 31 March 2024
MIDLANDS WELDING SOLUTIONS LIMITED
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor
vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 April 2023
32,303
29,755
2,548
1,150
-
1,150
Additions
At 31 March 2024
3,698
29,755
33,453
Provision for depreciation and impairment
At 01 April 2023
23,331
22,694
637
Charge for year
2,530
1,765
765
At 31 March 2024
25,861
24,459
1,402
At 31 March 2024
Net book value
2,296
5,296
7,592
At 31 March 2023
1,911
7,061
8,972
3. Trade and other receivables
2023
2024
£
£
Trade debtors
-
2,881
Amounts owed by directors
-
4,726
Taxation and social security
17,903
7,657
15,264
17,903
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Taxation and social security
12,003
10,103
Accruals and deferred income
805
575
Directors' loan accounts
11
-
Obligations under HP/Financial leases
-
1,342
12,819
12,020
5. Related party transactions
The ultimate controlling party during the year was Mark Coughlan , director , whom controls the company by virtue
of owning 100% of the share capital.
6. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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6
For the year ended 31 March 2024
MIDLANDS WELDING SOLUTIONS LIMITED
Notes to the Financial Statements Continued
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