Registered number
07440719
Midland Truck Breakers Ltd
Filleted Accounts
30 November 2023
Midland Truck Breakers Ltd
Registered number: 07440719
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Current assets
Stocks 35,000 43,118
Debtors 3 - 1,482
35,000 44,600
Creditors: amounts falling due within one year 4 (34,561) (35,813)
Net current assets 439 8,787
Net assets 439 8,787
Capital and reserves
Called up share capital 2 2
Profit and loss account 437 8,785
Shareholders' funds 439 8,787
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Brad Smith
Director
Approved by the board on 21 May 2024
Midland Truck Breakers Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors - 906
Other debtors - 576
- 1,482
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 35,658 34,970
Taxation and social security costs 5,380 608
Other creditors (6,477) 235
34,561 35,813
5 Other information
Midland Truck Breakers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
22a Burton Street
Melton Mowbray
Leics
LE13 1AF
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