2023-06-01 03197860 2024-05-31 03197860 2023-06-01 2024-05-31 03197860 2023-05-31 03197860 2022-06-01 2023-05-31 03197860 uk-core:WithinOneYear 2023-05-31 03197860 uk-core:WithinOneYear 2024-05-31 03197860 uk-core:AfterOneYear 2023-05-31 03197860 uk-core:AfterOneYear 2024-05-31 03197860 uk-core:ShareCapital 2024-05-31 03197860 uk-core:ShareCapital 2023-05-31 03197860 uk-core:InvestmentPropertiesRevaluationReserve 2024-05-31 03197860 uk-core:InvestmentPropertiesRevaluationReserve 2023-05-31 03197860 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 03197860 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 03197860 uk-bus:Director1 2023-06-01 2024-05-31 03197860 uk-core:OfficeEquipment 2023-06-01 2024-05-31 03197860 uk-core:WithinOneYear 2024-05-31 03197860 uk-core:WithinOneYear 2023-05-31 03197860 uk-core:AfterOneYear uk-core:Secured 2024-05-31 03197860 uk-core:AfterOneYear uk-core:Secured 2023-05-31 iso4217:GBP xbrli:pure 03197860 uk-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 03197860 uk-bus:FRS102 2023-06-01 2024-05-31 03197860 uk-bus:FilletedAccounts 2023-06-01 2024-05-31 03197860 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31
Midrange Technical Services Limited
Registered Number:03197860
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
Registered Number :
03197860
As at 31 May 2024
Midrange Technical Services Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
983
1,156
2
3
2,520,000
3,135,000
Investment property
2,520,983
3,136,156
Current assets
Trade and other receivables
48,034
81,643
4
20,388
Cash and cash equivalents
10,471
92,114
68,422
Trade and other payables: amounts falling due within one
year
(20,142)
(33,887)
5
48,280
58,227
Net current assets
Total assets less current liabilities
2,579,210
3,184,436
Trade and other payables: amounts falling due after more
than one year
(1,902,354)
(1,392,475)
6
(147,845)
(177,267)
Provisions for liabilities
1,038,890
Net assets
1,104,815
Capital and reserves
Called up share capital
2
2
Fair value reserve
777,912
1,001,000
Retained earnings
260,976
103,813
1,038,890
1,104,815
Shareholders' funds
For the year ended 31 May 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 of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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Registered Number :
03197860
For the year ended 31 May 2024
Midrange Technical Services Limited
Statement of Financial Position Continued
Raymond Anthony Sabell Director
These financial statements were approved and authorised for issue by the Board on 16 January 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2024
Midrange Technical Services Limited
Notes to the Financial Statements
Statutory Information
Midrange Technical Services Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03197860.
Registered address:
12 Denise Drive
Harborne
Birmingham
B17 0BN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Post Balance Sheet Event
The company continued its policy of investment property sales to release equity with the sale of 1 further property in
July,2024 with other properties continuing to be marketed.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets are stated at cost or valuation less depreciation . Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15% Reducing balance
Computer equipment
Investment property
Investment properties are included in the balance sheet at their open market fair value as at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a fair value reserve and deferred taxation is provided on any surplus.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date including any surplus on revaluation of freehold investment properties.
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5
For the year ended 31 May 2024
Midrange Technical Services Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Computer
equipment
£
Cost or
valuation
At 01 June 2023
28,313
At 31 May 2024
28,313
Provision for depreciation and impairment
At 01 June 2023
27,157
Charge for year
173
At 31 May 2024
27,330
At 31 May 2024
Net book value
983
At 31 May 2023
1,156
3. Investment property
Total
£
Fair value
At 01 June 2023
3,135,000
Disposals
(615,000)
At 31 May 2024
2,520,000
Net book value
At 31 May 2024
2,520,000
At 31 May 2023
3,135,000
The director has considered the fair value of the property and does not consider any adjustment is required for the current year.
4. Trade and other receivables
2023
2024
£
£
Prepayments and accrued income
2,736
1,969
Amounts owed by directors
-
46,065
Other debtors
78,907
-
48,034
81,643
Other debtor is wholly a secured loan.
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6
For the year ended 31 May 2024
Midrange Technical Services Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
9,770
9,770
Trade creditors
13,630
2,060
Accruals and deferred income
10,301
8,312
Directors' loan accounts
186
-
33,887
20,142
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
19,600
22,863
Bank loans and overdraft (secured)
1,372,875
1,879,491
1,392,475
1,902,354
7. Related party transactions
The ultimate controlling party during the year was Raymond Sabell , director , whom controls the company by virtue
of owning 100% of the share capital.
8. Average number of persons employed
During the year the average number of employees was 0
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