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Registered number: 05409265
Midland Tiling Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
KDM Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05409265
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,558 4,962
3,558 4,962
CURRENT ASSETS
Debtors 5 150,104 150,104
Cash at bank and in hand 4,937 1,476
155,041 151,580
Creditors: Amounts Falling Due Within One Year 6 (147,074 ) (137,745 )
NET CURRENT ASSETS (LIABILITIES) 7,967 13,835
TOTAL ASSETS LESS CURRENT LIABILITIES 11,525 18,797
NET ASSETS 11,525 18,797
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 11,425 18,697
SHAREHOLDERS' FUNDS 11,525 18,797
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Ellis
Director
30th December 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Midland Tiling Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05409265 . The registered office is Northampton Science Park, Kings Park Road, Northampton, NN3 6LG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was  1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 24,952 7,135 10,945 43,032
As at 31 March 2024 24,952 7,135 10,945 43,032
Depreciation
As at 1 April 2023 22,345 5,951 9,774 38,070
Provided during the period 651 177 576 1,404
As at 31 March 2024 22,996 6,128 10,350 39,474
Net Book Value
As at 31 March 2024 1,956 1,007 595 3,558
As at 1 April 2023 2,607 1,184 1,171 4,962
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 150,104 150,104
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2 (1 )
Corporation tax 1,236 1,236
VAT 11,985 526
Other creditors 57,182 55,182
Accruals and deferred income 3,750 2,850
Director's loan account 72,919 77,952
147,074 137,745
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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