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REGISTERED NUMBER: 03911830 (England and Wales)















MIDAS PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MIDAS PROJECTS LIMITED (REGISTERED NUMBER: 03911830)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDAS PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: D Hawkins





SECRETARY: Indigo Secretaries Limited





REGISTERED OFFICE: 3 Kensworth Gate
200-204 High Street South
Dunstable
Bedfordshire
LU6 3HS





REGISTERED NUMBER: 03911830 (England and Wales)





ACCOUNTANTS: Higginson & Co (UK) Ltd
3 Kensworth Gate
200 - 204 High Street South
Dunstable
Bedfordshire
LU6 3HS

MIDAS PROJECTS LIMITED (REGISTERED NUMBER: 03911830)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 374

CURRENT ASSETS
Debtors 5 3,749 6,132
Cash at bank and in hand 46,747 58,633
50,496 64,765
CREDITORS
Amounts falling due within one year 6 37,628 39,725
NET CURRENT ASSETS 12,868 25,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,868

25,414

PROVISIONS FOR LIABILITIES 7 - 71
NET ASSETS 12,868 25,343

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 12,768 25,243
SHAREHOLDERS' FUNDS 12,868 25,343

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 director acknowledges his 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.

MIDAS PROJECTS LIMITED (REGISTERED NUMBER: 03911830)

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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 December 2024 and were signed by:





D Hawkins - Director


MIDAS PROJECTS LIMITED (REGISTERED NUMBER: 03911830)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Midas Projects 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 50% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MIDAS PROJECTS LIMITED (REGISTERED NUMBER: 03911830)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 3,522
DEPRECIATION
At 1 April 2023 3,148
Charge for year 374
At 31 March 2024 3,522
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 374

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 4,918
VAT 102 -
Prepayments and accrued income 3,647 1,214
3,749 6,132

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Corporation tax - 5,853
Social security and other taxes 21 36
VAT - 3,890
Directors' current accounts 36,113 28,205
Accrued expenses 1,494 1,741
37,628 39,725

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax - 71

MIDAS PROJECTS LIMITED (REGISTERED NUMBER: 03911830)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 71
Credit to Income Statement during year (71 )
Balance at 31 March 2024 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
65 Ordinary of £1 £1 65 65
35 Ordinary "A" £1 £1 35 35
100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
D Hawkins
Balance outstanding at start of year 28,205 16,746
Amounts advanced 7,908 11,459
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,113 28,205