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REGISTERED NUMBER: 09549753 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Midland Sealants and Tools Limited

Midland Sealants and Tools Limited (Registered number: 09549753)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Midland Sealants and Tools Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: L P Howen
Mrs J M Howen





SECRETARY: Mrs J M Howen





REGISTERED OFFICE: 25 Sunbury Road
Halesowen
West Midlands
B63 4DH





REGISTERED NUMBER: 09549753 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Midland Sealants and Tools Limited (Registered number: 09549753)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 177,299 176,252

CURRENT ASSETS
Stocks 85,320 84,240
Debtors 5 92,716 194,857
Cash at bank 402,274 284,752
580,310 563,849
CREDITORS
Amounts falling due within one year 6 119,534 199,659
NET CURRENT ASSETS 460,776 364,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

638,075

540,442

PROVISIONS FOR LIABILITIES 262 -
NET ASSETS 637,813 540,442

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 637,713 540,342
SHAREHOLDERS' FUNDS 637,813 540,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Sealants and Tools Limited (Registered number: 09549753)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:




L P Howen - Director



Mrs J M Howen - Director


Midland Sealants and Tools Limited (Registered number: 09549753)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Midland Sealants and Tools 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Freehold property - not provided
Office equipment - 33% on reducing balance

Freehold property revaluation on an open market basis has been considered by the directors. The company has a policy of regular maintenance and repair, so that the asset maintains its standards. The directors consider that there has been no movement in the freehold property valuation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Midland Sealants and Tools Limited (Registered number: 09549753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

No depreciation or amortisation is provided in respect of investment property. This treatment may be a departure from the requirements of the Companies Act 2006 concerning depreciation of fixed assets. However, the investment property is not held for consumption but for investment and the members consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold Office
property equipment Totals
£    £    £   
COST
At 1 May 2023 176,252 - 176,252
Additions - 1,571 1,571
At 30 April 2024 176,252 1,571 177,823
DEPRECIATION
Charge for year - 524 524
At 30 April 2024 - 524 524
NET BOOK VALUE
At 30 April 2024 176,252 1,047 177,299
At 30 April 2023 176,252 - 176,252

Midland Sealants and Tools Limited (Registered number: 09549753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 92,716 194,857

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Taxation and social security 65,392 82,389
Other creditors 54,142 117,270
119,534 199,659

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

8. ULTIMATE CONTROLLING PARTY

The company is under the control of its director, Mr L Howen, as he owns the majority of the issued share capital.