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REGISTERED NUMBER: 02340356 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MIDLAND ASSURED HOMES LIMITED

MIDLAND ASSURED HOMES LIMITED (REGISTERED NUMBER: 02340356)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MIDLAND ASSURED HOMES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: P J Davis
Dr L A Davis
Mrs S L Shannon



REGISTERED OFFICE: 5 Olympus Court
Olympus Avenue
Tachbrook Park
Warwick
Warwickshire
CV34 6RZ



REGISTERED NUMBER: 02340356 (England and Wales)



BANKERS: Barclays Bank PLC
15 Colmore Row
Birmingham

MIDLAND ASSURED HOMES LIMITED (REGISTERED NUMBER: 02340356)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,920,000 2,920,000

CURRENT ASSETS
Debtors 38,653 29,788
Cash at bank 22,922 16,526
61,575 46,314
CREDITORS
Amounts falling due within one year 168,215 175,858
NET CURRENT LIABILITIES (106,640 ) (129,544 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,813,360

2,790,456

CREDITORS
Amounts falling due after more than one
year

2,609,337

2,584,901
NET ASSETS 204,023 205,555

CAPITAL AND RESERVES
Called up share capital 40,002 40,002
Share premium 18,975 18,975
Fair value reserve 5 124,104 124,104
Retained earnings 20,942 22,474
SHAREHOLDERS' FUNDS 204,023 205,555

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

MIDLAND ASSURED HOMES LIMITED (REGISTERED NUMBER: 02340356)

ABRIDGED BALANCE SHEET - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 September 2024 and were signed on its behalf by:





P J Davis - Director


MIDLAND ASSURED HOMES LIMITED (REGISTERED NUMBER: 02340356)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Midland Assured Homes 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

At the balance sheet date the company had net current liabilities of £106,640 (2023 - £129,544). The parent company has expressed its willingness to support the company as necessary and along with the forecasted future profitable trade the business is considered a going concern. The accounts and financial statements have therefore been prepared on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents amounts receivable in respect of property lettings exclusive of value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 ASSURED HOMES LIMITED (REGISTERED NUMBER: 02340356)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, financial instruments are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,920,000
NET BOOK VALUE
At 31 March 2024 2,920,000
At 31 March 2023 2,920,000

5. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 124,104

Deferred tax recognised on movements in fair value is allocated to the fair value reserve.