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Registered number: 13465983
Mid Hospitality Ltd
Unaudited Financial Statements
For The Year Ended 18 December 2023
TaxAssist Accountants Victoria
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13465983
18 December 2023 18 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 555,781 33,707
555,781 33,707
CURRENT ASSETS
Debtors 5 78,361 9,974
Cash at bank and in hand 39,045 461,229
117,406 471,203
Creditors: Amounts Falling Due Within One Year 6 (234,130 ) (661 )
NET CURRENT ASSETS (LIABILITIES) (116,724 ) 470,542
TOTAL ASSETS LESS CURRENT LIABILITIES 439,057 504,249
NET ASSETS 439,057 504,249
CAPITAL AND RESERVES
Called up share capital 7 509 399
Share premium account 641,053 475,682
Profit and Loss Account (202,505 ) 28,168
SHAREHOLDERS' FUNDS 439,057 504,249
Page 1
Page 2
For the year ending 18 December 2023 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Diana Khromova
Director
16/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Mid Hospitality Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13465983 . The registered office is 205 Lanvender Hill, London, SW11 5TB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Lease term
Plant & Machinery Reducing balance
Fixtures & Fittings Reducing balance
Computer Equipment Reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 19 December 2022 - - 42,219 2,724 44,943
Additions 465,335 66,711 94,437 5,110 631,593
As at 18 December 2023 465,335 66,711 136,656 7,834 676,536
Depreciation
As at 19 December 2022 - - 10,555 681 11,236
Provided during the period 56,719 16,678 34,164 1,958 109,519
As at 18 December 2023 56,719 16,678 44,719 2,639 120,755
Net Book Value
As at 18 December 2023 408,616 50,033 91,937 5,195 555,781
As at 19 December 2022 - - 31,664 2,043 33,707
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5. Debtors
18 December 2023 18 December 2022
£ £
Due within one year
VAT 40,861 -
Directors' loan accounts - 9,874
Called up share capital not paid - 100
40,861 9,974
Due after more than one year
Rent deposit 37,500 -
37,500 -
78,361 9,974
6. Creditors: Amounts Falling Due Within One Year
18 December 2023 18 December 2022
£ £
Trade creditors 85,613 -
Capital on Tap 17,653 -
VAT - 8
Accruals and deferred income 653 653
Directors' loan accounts 130,211 -
234,130 661
7. Share Capital
18 December 2023 18 December 2022
£ £
Called Up Share Capital not Paid - 100
Called Up Share Capital has been paid up 509 299
Amount of Allotted, Called Up Share Capital 509 399
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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