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
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
Midlands Flooring Limited
Statement of financial position
as at 31 March 2024
Tangible assets
141,125
145,309
Cash at bank and in hand
502,807
591,285
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
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
Midlands Flooring Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
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.
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
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
At 31 March 2024
2,828
138,297
141,125
At 31 March 2023
4,461
140,848
145,309
Midlands Flooring Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
581,112
346,397
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
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
90,955
42,691
8
Average number of employees
During the year the average number of employees was 7 (2023: 7).