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REGISTERED NUMBER: 08128411 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

MIDLAND TRAYS LIMITED

MIDLAND TRAYS LIMITED (REGISTERED NUMBER: 08128411)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MIDLAND TRAYS LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: Gurdip Singh Bansal
Jay Bansal
Mrs Anna Bansal





REGISTERED OFFICE: 722 Warwick Road
Tyseley
Birmingham
B11 2HG





REGISTERED NUMBER: 08128411 (England and Wales)

MIDLAND TRAYS LIMITED (REGISTERED NUMBER: 08128411)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 25,784 20,804
25,784 20,804

CURRENT ASSETS
Stocks 65,436 51,452
Debtors 6 10,826 37,853
Cash at bank and in hand 9,190 17,375
85,452 106,680
CREDITORS
Amounts falling due within one year 7 216,299 243,263
NET CURRENT LIABILITIES (130,847 ) (136,583 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(105,063

)

(115,779

)

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (105,066 ) (115,782 )
(105,063 ) (115,779 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:



Gurdip Singh Bansal - Director


MIDLAND TRAYS LIMITED (REGISTERED NUMBER: 08128411)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Midland Trays Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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 25% Reducing balance basis
Motor Vehicles 15% Reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

MIDLAND TRAYS LIMITED (REGISTERED NUMBER: 08128411)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,000
AMORTISATION
At 1 June 2023
and 31 May 2024 10,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 88,037 13,584 101,621
Additions 1,230 11,495 12,725
At 31 May 2024 89,267 25,079 114,346
DEPRECIATION
At 1 June 2023 74,463 6,354 80,817
Charge for year 4,620 3,125 7,745
At 31 May 2024 79,083 9,479 88,562
NET BOOK VALUE
At 31 May 2024 10,184 15,600 25,784
At 31 May 2023 13,574 7,230 20,804

MIDLAND TRAYS LIMITED (REGISTERED NUMBER: 08128411)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 3,010 34,970
Tax - 2,883
Prepayments 7,816 -
10,826 37,853

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 62,444 90,883
Social security and other taxes 2,296 2,815
VAT 1,770 1,562
Directors' current accounts 149,789 148,003
216,299 243,263