Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2023-01-0152truefalse 01084809 2023-01-01 2023-12-31 01084809 2022-01-01 2022-12-31 01084809 2023-12-31 01084809 2022-12-31 01084809 c:Director1 2023-01-01 2023-12-31 01084809 c:Director2 2023-01-01 2023-12-31 01084809 d:PlantMachinery 2023-01-01 2023-12-31 01084809 d:PlantMachinery 2023-12-31 01084809 d:PlantMachinery 2022-12-31 01084809 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01084809 d:FreeholdInvestmentProperty 2023-12-31 01084809 d:FreeholdInvestmentProperty 2022-12-31 01084809 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 01084809 d:CurrentFinancialInstruments 2023-12-31 01084809 d:CurrentFinancialInstruments 2022-12-31 01084809 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01084809 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01084809 d:ShareCapital 2023-12-31 01084809 d:ShareCapital 2022-12-31 01084809 d:RevaluationReserve 2023-01-01 2023-12-31 01084809 d:RevaluationReserve 2023-12-31 01084809 d:RevaluationReserve 2022-12-31 01084809 d:RetainedEarningsAccumulatedLosses 2023-12-31 01084809 d:RetainedEarningsAccumulatedLosses 2022-12-31 01084809 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01084809 c:OrdinaryShareClass1 2023-12-31 01084809 c:OrdinaryShareClass1 2022-12-31 01084809 c:FRS102 2023-01-01 2023-12-31 01084809 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01084809 c:FullAccounts 2023-01-01 2023-12-31 01084809 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01084809 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01084809 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01084809 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01084809 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 01084809 6 2023-01-01 2023-12-31 01084809 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01084809


 

MIDLAND ALLOY WINDOWS CO. LIMITED
 
UNAUDITED
 
ANNUAL REPORT
 
FOR THE YEAR ENDED 31 DECEMBER 2023

 
MIDLAND ALLOY WINDOWS CO. LIMITED
REGISTERED NUMBER: 01084809

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 3 
313
1,317

Investments
  
332,898
312,876

Investment property
 4 
3,800,000
2,653,476

  
4,133,211
2,967,669

Current assets
  

Debtors: amounts falling due within one year
 5 
408,553
509,707

Cash and cash equivalents
  
570,037
626,129

  
978,590
1,135,836

Creditors: amounts falling due within one year
 6 
(203,218)
(180,523)

Net current assets
  
 
 
775,372
 
 
955,313

Total assets less current liabilities
  
4,908,583
3,922,982

Provisions for liabilities
  

Deferred tax
 7 
(271,550)
(28,713)

Net assets
  
4,637,033
3,894,269


Capital and reserves
  

Called up share capital 
 8 
100
100

Revaluation reserve
 9 
1,979,703
1,164,784

Profit and loss account
 9 
2,657,230
2,729,385

  
4,637,033
3,894,269


Page 1

 
MIDLAND ALLOY WINDOWS CO. LIMITED
REGISTERED NUMBER: 01084809

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Beirne
M Beirne
Director
Director


Date: 11 September 2024
Date:11 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MIDLAND ALLOY WINDOWS CO. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

Midland Alloy Windows Co. Limited (''the company'') is a limited liability company incorporated and domiciled in the United Kingdom. The address of its registered office is disclosed on the company information page. The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 31 December 2023 (2022: year ended 31 December 2022).
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

 
1.2

Turnover

Turnover is recognised to extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover comprises rents receivable from the investment properties during the year.

 
1.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and equipment
-
15%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.4

Investment property

Investment property is carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
MIDLAND ALLOY WINDOWS CO. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.5

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
1.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
1.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022: 2).

Page 4

 
MIDLAND ALLOY WINDOWS CO. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 January 2023
446,489



At 31 December 2023

446,489



Depreciation


At 1 January 2023
445,172


Charge for the year on owned assets
1,004



At 31 December 2023

446,176



Net book value



At 31 December 2023
313



At 31 December 2022
1,317


4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
2,653,476


Surplus on revaluation
1,146,524



At 31 December 2023
3,800,000


Comprising


Cost
1,497,711

Revaluation surplus/(deficit):


Revaluation 2005-2012
1,155,765

2023
1,146,524

At 31 December 2023
3,800,000

The  valuations were made by the directors, on an open market value for existing use basis.



Page 5

 
MIDLAND ALLOY WINDOWS CO. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
-
107,090

Other debtors
402,617
402,617

Prepayments and accrued income
5,936
-

408,553
509,707



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
6,896
-

Corporation tax
66,040
39,933

Other taxation and social security
29,701
30,372

Other creditors
44,397
44,397

Accruals and deferred income
56,184
65,821

203,218
180,523



7.


Deferred taxation




2023


£






At beginning of year
(28,713)


Charged to profit or loss
(242,837)



At end of year
(271,550)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(5,618)
(10,345)

Property revaluation
277,168
39,058

271,550
28,713

Page 6

 
MIDLAND ALLOY WINDOWS CO. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022: 100) Ordinary shares of £1 each
100
100



9.


Reserves

Revaluation reserve

The revaluation reserve represents the movemnets between historical cost and fair value of investment property net of the associated estimated Deferred tax


Profit and loss account

The profit and loss account includes all current and prior period accumulated profits and losses.


Page 7