1 February 2023 false No description of principal activity Taxfiler 2024.5 13178829business:PrivateLimitedCompanyLtd2023-02-012024-01-31 131788292023-01-31 131788292023-02-012024-01-31 13178829business:AuditExemptWithAccountantsReport2023-02-012024-01-31 13178829business:FilletedAccounts2023-02-012024-01-31 131788292024-01-31 13178829business:Director12023-02-012024-01-31 13178829business:CompanySecretary12023-02-012024-01-31 13178829business:RegisteredOffice2023-02-012024-01-31 131788292023-01-31 13178829core:WithinOneYear2024-01-31 13178829core:WithinOneYear2023-01-31 13178829core:AfterOneYear2024-01-31 13178829core:AfterOneYear2023-01-31 13178829core:ShareCapitalcore:PreviouslyStatedAmount2024-01-31 13178829core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 13178829core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-01-31 13178829core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 13178829core:PreviouslyStatedAmount2024-01-31 13178829core:PreviouslyStatedAmount2023-01-31 13178829business:SmallEntities2023-02-012024-01-31 13178829countries:EnglandWales2023-02-012024-01-31 13178829core:ComputerEquipment2023-02-012024-01-31 13178829core:ComputerEquipment2023-01-31 13178829core:ComputerEquipment2024-01-31 13178829core:WithinOneYear2023-02-012024-01-31 13178829core:MoreThanFiveYears2024-01-31 13178829core:MoreThanFiveYears2023-01-31 131788292022-02-012023-01-31 iso4217:GBP xbrli:pure
Company Registration No. 13178829 (England and Wales)
Midway Property Limited Unaudited accounts for the year ended 31 January 2024
Midway Property Limited Unaudited accounts Contents
Page
- 2 -
Midway Property Limited Company Information for the year ended 31 January 2024
Director
Paul Dumbleton
Secretary
Paul Dumbleton
Company Number
13178829 (England and Wales)
Registered Office
23a Dawkins Road Poole Dorset BH15 4JY
Accountants
JSVM Limited Certified Public Accountants 23a Dawkins Road Poole Dorset BH15 4JY
- 3 -
Midway Property Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
164 
497 
Investment property
376,659 
376,659 
376,823 
377,156 
Current assets
Debtors
44,791 
60,217 
Cash at bank and in hand
16,408 
14,832 
61,199 
75,049 
Creditors: amounts falling due within one year
(45,219)
(54,207)
Net current assets
15,980 
20,842 
Total assets less current liabilities
392,803 
397,998 
Creditors: amounts falling due after more than one year
(378,832)
(383,395)
Provisions for liabilities
Deferred tax
(32)
(94)
Net assets
13,939 
14,509 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
13,938 
14,508 
Shareholders' funds
13,939 
14,509 
For the year ending 31 January 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 August 2024 and were signed on its behalf by
Paul Dumbleton Director Company Registration No. 13178829
- 4 -
Midway Property Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Midway Property Limited is a private company, limited by shares, registered in England and Wales, registration number 13178829. The registered office is 23a Dawkins Road, Poole, Dorset, BH15 4JY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Investment property
The investment property is included at cost which the Director considers to be the fair market value as at 31 January 2023.
Deferred taxation
Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Turnover
Turnover in respect of rental income is recognised in the accounting period to which it relates. Turnover in respect of services is measured at the fair value of the consideration received or receivable.
- 5 -
Midway Property Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 February 2023
999 
At 31 January 2024
999 
Depreciation
At 1 February 2023
502 
Charge for the year
333 
At 31 January 2024
835 
Net book value
At 31 January 2024
164 
At 31 January 2023
497 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
376,659 
At 31 January 2024
376,659 
The investment property was valued on an open market basis by the Director on 31 January 2022.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Trade debtors
44,791 
60,217 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,200 
12,000 
Trade creditors
34,193 
34,193 
Taxes and social security
923 
4,465 
Loans from directors
301 
915 
Accruals
2,602 
2,634 
45,219 
54,207 
The Director's Loan Account is interest-free and repayable on demand.
- 6 -
Midway Property Limited Notes to the Accounts for the year ended 31 January 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
221,573 
222,636 
Loans from directors
157,259 
160,759 
378,832 
383,395 
Aggregate of amounts that fall due for payment after five years
153,873 
143,987 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 7 -