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REGISTERED NUMBER: 05649942 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Midus Communications Limited

Midus Communications Limited (Registered number: 05649942)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Midus Communications Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr M P Holden





REGISTERED OFFICE: Eldo House
Kempson Way
Bury St. Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 05649942 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Midus Communications Limited (Registered number: 05649942)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 823 1,097
Investments 5 62,489 59,257
63,312 60,354

CURRENT ASSETS
Debtors 6 32,777 18,330
Cash at bank and in hand 179,453 180,992
212,230 199,322
CREDITORS
Amounts falling due within one year 7 25,702 12,677
NET CURRENT ASSETS 186,528 186,645
TOTAL ASSETS LESS CURRENT LIABILITIES 249,840 246,999

PROVISIONS FOR LIABILITIES 8 157 209
NET ASSETS 249,683 246,790

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 5,310 1,327
Retained earnings 244,372 245,462
SHAREHOLDERS' FUNDS 249,683 246,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Midus Communications Limited (Registered number: 05649942)

Balance Sheet - continued
31 December 2023


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 director and authorised for issue on 23 September 2024 and were signed by:





Mr M P Holden - Director


Midus Communications Limited (Registered number: 05649942)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Midus Communications 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and equipment - 25% on reducing balance

Financial instruments
Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Midus Communications Limited (Registered number: 05649942)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Investments
Fixed asset investments are stated at fair value less provision for permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Midus Communications Limited (Registered number: 05649942)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 2,080
DEPRECIATION
At 1 January 2023 983
Charge for year 274
At 31 December 2023 1,257
NET BOOK VALUE
At 31 December 2023 823
At 31 December 2022 1,097

5. FIXED ASSET INVESTMENTS
Listed Cash
investments deposits Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 58,011 1,246 59,257
Additions - 284 284
Disposals (275 ) (760 ) (1,035 )
Revaluations 3,983 - 3,983
At 31 December 2023 61,719 770 62,489
NET BOOK VALUE
At 31 December 2023 61,719 770 62,489
At 31 December 2022 58,011 1,246 59,257

Cost or valuation at 31 December 2023 is represented by:

Listed Cash
investments deposits Totals
£    £    £   
Valuation in 2023 5,310 - 5,310
Cost 56,409 770 57,179
61,719 770 62,489

Midus Communications Limited (Registered number: 05649942)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,835 18,281
Other debtors 11,942 49
32,777 18,330

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 19,161 7,375
Taxation and social security 3,823 2,084
Other creditors 2,718 3,218
25,702 12,677

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 157 209

Deferred
tax
£   
Balance at 1 January 2023 209
Credit to Income Statement during year (52 )
Balance at 31 December 2023 157

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

Midus Communications Limited (Registered number: 05649942)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr M P Holden
Balance outstanding at start of year 49 -
Amounts advanced 10,973 49
Amounts repaid (49 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,973 49

Interest is charged at HMRC's approved rate.