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REGISTERED NUMBER: 01936235 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Midland Filtration Limited

Midland Filtration Limited (Registered number: 01936235)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Midland Filtration Limited

Company Information
for the year ended 31 May 2024







DIRECTOR: R A Johnson





REGISTERED OFFICE: 39 Moorbridge Road Industrial Estate
Bingham
Nottingham
Nottinghamshire
NG13 8GG





REGISTERED NUMBER: 01936235 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Midland Filtration Limited (Registered number: 01936235)

Abridged Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 170,748 157,995

CURRENT ASSETS
Inventories 272,862 249,007
Debtors 1,204,015 1,258,556
Prepayments and accrued income 49,187 28,627
Cash at bank and in hand 107,181 57,786
1,633,245 1,593,976
CREDITORS
Amounts falling due within one year 1,089,223 1,220,284
NET CURRENT ASSETS 544,022 373,692
TOTAL ASSETS LESS CURRENT
LIABILITIES

714,770

531,687

CREDITORS
Amounts falling due after more than
one year

(89,312

)

(82,197

)

PROVISIONS FOR LIABILITIES (43,687 ) (34,057 )

ACCRUALS AND DEFERRED INCOME (9,836 ) (9,304 )
NET ASSETS 571,935 406,129

CAPITAL AND RESERVES
Called up share capital 475 475
Share premium 6 49,389 49,389
Capital redemption reserve 6 1,871 1,871
Retained earnings 6 520,200 354,394
SHAREHOLDERS' FUNDS 571,935 406,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

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 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 Filtration Limited (Registered number: 01936235)

Abridged Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





R A Johnson - Director


Midland Filtration Limited (Registered number: 01936235)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Midland Filtration 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
Revenue 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.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Office furniture and equipment - 15% per annum straight line
Motor vehicles - 25% reducing balance

Stocks
Inventories 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.

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.

Midland Filtration Limited (Registered number: 01936235)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 55 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 June 2023 462,222
Additions 67,956
Disposals (10,627 )
At 31 May 2024 519,551
DEPRECIATION
At 1 June 2023 304,227
Charge for year 48,327
Eliminated on disposal (3,751 )
At 31 May 2024 348,803
NET BOOK VALUE
At 31 May 2024 170,748
At 31 May 2023 157,995

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 99,520 76,320
Invoice finance 5,497 204,352
105,017 280,672

6. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 June 2023 354,394 49,389 1,871 405,654
Profit for the year 165,806 165,806
At 31 May 2024 520,200 49,389 1,871 571,460

7. FINANCIAL COMMITMENTS

Future obligations under operating leases amount to £766,949 (2023: £206,915).

Midland Filtration Limited (Registered number: 01936235)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
R A Johnson
Balance outstanding at start of year 100,001 97,085
Amounts advanced 17,169 2,916
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 117,170 100,001