MIDLANDS WELDING SOLUTIONS LIMITED |
Registered Number:07994359 |
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
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
MIDLANDS WELDING SOLUTIONS LIMITED
Statement of Financial Position
2023
2024
Property, plant and equipment |
7,592
8,972
2
7,592
8,972
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
1
1
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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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. |
46 Middle Lane
Nether Whitacre
Coleshill
B46 2HY
The presentation currency is £ sterling. |
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
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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For the year ended 31 March 2024
MIDLANDS WELDING SOLUTIONS LIMITED
Notes to the Financial Statements Continued
2. Property, plant and equipment |
32,303
29,755
2,548
1,150
-
1,150
3,698
29,755
33,453
Provision for depreciation and impairment |
23,331
22,694
637
Charge for year
2,530
1,765
765
25,861
24,459
1,402
2,296
5,296
7,592
1,911
7,061
8,972
3. Trade and other receivables |
2023
2024
-
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
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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For the year ended 31 March 2024
MIDLANDS WELDING SOLUTIONS LIMITED
Notes to the Financial Statements Continued
4 of 4