Company Registration No. 11146292 (England and Wales)
MIDLAND CAPITAL LIMITED
Unaudited accounts
for the period from 1 March 2023 to 28 February 2024
MIDLAND CAPITAL LIMITED
Unaudited accounts
Contents
MIDLAND CAPITAL LIMITED
Company Information
for the period from 1 March 2023 to 28 February 2024
Company Number
11146292 (England and Wales)
Registered Office
Unit 2
Burley House
DERBY
Derbyshire
DE22 3LR
United Kingdom
MIDLAND CAPITAL LIMITED
Statement of financial position
as at 28 February 2024
Tangible assets
129,126
125,000
Investment property
4,078,370
3,441,421
Cash at bank and in hand
2,223
20,100
Creditors: amounts falling due within one year
(75,224)
(176,088)
Net current assets
1,386,474
725,211
Total assets less current liabilities
5,593,970
4,291,632
Creditors: amounts falling due after more than one year
(3,949,906)
(3,289,076)
Net assets
1,644,064
1,002,556
Called up share capital
10
10
Revaluation reserve
1,460,200
823,251
Profit and loss account
183,854
179,295
Shareholders' funds
1,644,064
1,002,556
For the period ending 28 February 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 November 2024 and were signed on its behalf by
Ka Shing Cheung
Director
Company Registration No. 11146292
MIDLAND CAPITAL LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
MIDLAND CAPITAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11146292. The registered office is Unit 2, Burley House, DERBY, Derbyshire, DE22 3LR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
125,000
462
462
125,924
At 28 February 2024
125,000
4,588
462
130,050
At 1 March 2023
-
462
462
924
At 28 February 2024
-
462
462
924
At 28 February 2024
125,000
4,126
-
129,126
At 28 February 2023
125,000
-
-
125,000
Fair value at 1 March 2023
3,441,421
Net gain from fair value adjustments
636,949
At 28 February 2024
4,078,370
MIDLAND CAPITAL LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
Amounts falling due within one year
Other debtors
1,452,437
881,199
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,966
-
Other creditors
70,058
4,106
Loans from directors
-
169,049
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
3,733,802
1,131,943
Loans from directors
199,254
-
9
Average number of employees
During the period the average number of employees was 2 (2023: 2).