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REGISTERED NUMBER: 08048890 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

MIDLANDS FLOOR SCREEDING LIMITED

MIDLANDS FLOOR SCREEDING LIMITED (REGISTERED NUMBER: 08048890)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MIDLANDS FLOOR SCREEDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: L J Dewsbury
D M Dewsbury
Mrs L C Dewsbury





REGISTERED OFFICE: Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA





REGISTERED NUMBER: 08048890 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

MIDLANDS FLOOR SCREEDING LIMITED (REGISTERED NUMBER: 08048890)

STATEMENT OF FINANCIAL POSITION
30TH APRIL 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 5 174,309 138,944

Current assets
Debtors 6 2,297,606 1,884,752
Prepayments and accrued income 2,757 2,074
Cash at bank 347,890 490,029
2,648,253 2,376,855
Creditors
Amounts falling due within one year 7 (961,050 ) (813,533 )
Net current assets 1,687,203 1,563,322
Total assets less current liabilities 1,861,512 1,702,266

Creditors
Amounts falling due after more than one
year

8

(61,459

)

(103,936

)

Provisions for liabilities 10 (168,515 ) (133,599 )
Net assets 1,631,538 1,464,731

Capital and reserves
Called up share capital 2 2
Retained earnings 1,631,536 1,464,729
Shareholders' funds 1,631,538 1,464,731

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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.

MIDLANDS FLOOR SCREEDING LIMITED (REGISTERED NUMBER: 08048890)

STATEMENT OF FINANCIAL POSITION - continued
30TH 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 31st January 2025 and were signed on its behalf by:




D M Dewsbury - Director Mrs L C Dewsbury - Director




L J Dewsbury - Director


MIDLANDS FLOOR SCREEDING LIMITED (REGISTERED NUMBER: 08048890)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Midlands Floor Screeding Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08048890 and the registered office is Newport House, Newport Road, Stafford, Staffordshire, ST16 1DA.

The principal activity of the company is that of floor screeding.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Functional currency
The financial statements are prepared in sterling. The functional currency of the company is sterling.

Significant judgements and estimates
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partly completed at the balance sheet date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

MIDLANDS FLOOR SCREEDING LIMITED (REGISTERED NUMBER: 08048890)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

A provision for rectification costs/liquidated damages has been included in the accounts.

MIDLANDS FLOOR SCREEDING LIMITED (REGISTERED NUMBER: 08048890)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

3. ACCOUNTING POLICIES - continued

Amounts recoverable on contracts
Work in progress is accounted for as defined in UTIF 40 as issued by the ASB. It is the company policy to recognise revenue over the time of a contract as it progresses with reference to the value of the work performed and with regard to contractual obligations. Work in progress is shown as "amounts recoverable on contracts".

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st May 2023 170,853 7,339 45,532 - 223,724
Additions 84,494 4,395 - 5,152 94,041
At 30th April 2024 255,347 11,734 45,532 5,152 317,765
DEPRECIATION
At 1st May 2023 57,802 1,837 25,141 - 84,780
Charge for year 49,387 - 5,098 4,191 58,676
At 30th April 2024 107,189 1,837 30,239 4,191 143,456
NET BOOK VALUE
At 30th April 2024 148,158 9,897 15,293 961 174,309
At 30th April 2023 113,051 5,502 20,391 - 138,944

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st May 2023 170,709 45,532 216,241
Additions 78,500 - 78,500
At 30th April 2024 249,209 45,532 294,741
DEPRECIATION
At 1st May 2023 57,766 25,141 82,907
Charge for year 47,862 5,098 52,960
At 30th April 2024 105,628 30,239 135,867
NET BOOK VALUE
At 30th April 2024 143,581 15,293 158,874
At 30th April 2023 112,943 20,391 133,334

MIDLANDS FLOOR SCREEDING LIMITED (REGISTERED NUMBER: 08048890)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 479,449 224,512
Amounts recoverable on contract 375,279 375,279
Other debtors 50,078 34,674
904,806 634,465

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,267,800 1,125,287
Other debtors 125,000 125,000
1,392,800 1,250,287

Aggregate amounts 2,297,606 1,884,752

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 27,273 26,611
Hire purchase contracts 74,049 55,419
Trade creditors 619,207 509,339
Amounts owed to group undertakings 702 702
Taxation and social security 239,528 221,343
Other creditors 291 119
961,050 813,533

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 27,273 55,207
Hire purchase contracts 34,186 48,729
61,459 103,936

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 108,235 104,148

The hire purchase contracts are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 43,577 26,399
Other provisions 124,938 107,200
168,515 133,599

MIDLANDS FLOOR SCREEDING LIMITED (REGISTERED NUMBER: 08048890)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred Other
tax provisions
£    £   
Balance at 1st May 2023 26,399 107,200
Provided during year 17,178 17,738
Balance at 30th April 2024 43,577 124,938

11. OTHER FINANCIAL COMMITMENTS

At the year end there were total future lease commitments of £nil (2023 £nil).

There also exists operating leases that have not been disclosed within lease commitments.

Two director/shareholders, have personally underwritten the lease agreements and have given personal guarantees meaning that there is no exposure to the company. The lease payments are being personally paid by Mrs L C Dewsbury and Mr L J Dewsbury.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Dewsbury Holdings Ltd.