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Company Registration No. 08474730 (England and Wales)
Midlands Flooring Limited Unaudited accounts for the year ended 31 March 2024
Midlands Flooring Limited Unaudited accounts Contents
Page
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Midlands Flooring Limited Company Information for the year ended 31 March 2024
Directors
David Wilson Vicky Wilson
Company Number
08474730 (England and Wales)
Registered Office
Unit 1, Chestnut Drive Kelsey Close Attleborough Fields Ind Estate Nuneaton CV11 6RS
Accountants
Peacock Accountants Ltd 71-75 Shelton Street Covent Garden London England WC2H 9JQ
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Midlands Flooring Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
141,125 
145,309 
Current assets
Debtors
683,693 
410,768 
Cash at bank and in hand
502,807 
591,285 
1,186,500 
1,002,053 
Creditors: amounts falling due within one year
(585,937)
(445,318)
Net current assets
600,563 
556,735 
Total assets less current liabilities
741,688 
702,044 
Creditors: amounts falling due after more than one year
(133,691)
(154,515)
Net assets
607,997 
547,529 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
607,897 
547,429 
Shareholders' funds
607,997 
547,529 
For the year ending 31 March 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 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 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 of Directors and authorised for issue on 10 June 2024 and were signed on its behalf by
David Wilson Director Company Registration No. 08474730
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Midlands Flooring Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Midlands Flooring Limited is a private company, limited by shares, registered in England and Wales, registration number 08474730. The registered office is Unit 1, Chestnut Drive Kelsey Close, Attleborough Fields Ind Estate, Nuneaton, CV11 6RS.
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.
3
Accounting policies
These financial statements for the year ended 31 March 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
16,496 
205,769 
222,265 
Additions
224 
97,540 
97,764 
Disposals
- 
(89,099)
(89,099)
At 31 March 2024
16,720 
214,210 
230,930 
Depreciation
At 1 April 2023
12,035 
64,921 
76,956 
Charge for the year
1,857 
39,554 
41,411 
On disposals
- 
(28,562)
(28,562)
At 31 March 2024
13,892 
75,913 
89,805 
Net book value
At 31 March 2024
2,828 
138,297 
141,125 
At 31 March 2023
4,461 
140,848 
145,309 
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Midlands Flooring Limited Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
102,581 
64,371 
Trade debtors
581,112 
346,397 
683,693 
410,768 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
69,088 
69,088 
Obligations under finance leases and hire purchase contracts
16,572 
15,115 
Trade creditors
382,837 
314,916 
Taxes and social security
95,866 
45,181 
Other creditors
15,396 
786 
Loans from directors
6,178 
232 
585,937 
445,318 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
42,736 
111,824 
Obligations under finance leases and hire purchase contracts
90,955 
42,691 
133,691 
154,515 
8
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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