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REGISTERED NUMBER: 03027445 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MIDDLESEX FLOORING LIMITED

MIDDLESEX FLOORING LIMITED (REGISTERED NUMBER: 03027445)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MIDDLESEX FLOORING LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTORS: T S Clarke
C Gargan





REGISTERED OFFICE: Unit 7 Summerhouse Business Park
16 Canal Way
Harefield
Middlesex
UB9 6TH





REGISTERED NUMBER: 03027445 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

MIDDLESEX FLOORING LIMITED (REGISTERED NUMBER: 03027445)

STATEMENT OF FINANCIAL POSITION
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,209 109,677
Investments 5 470,189 406,021
520,398 515,698

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 6 470,704 642,245
Cash at bank 178,143 179,370
668,847 841,615
CREDITORS
Amounts falling due within one year 7 279,060 324,975
NET CURRENT ASSETS 389,787 516,640
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,185

1,032,338

CREDITORS
Amounts falling due after more than one
year

8

(12,170

)

(38,033

)

PROVISIONS FOR LIABILITIES (26,747 ) (37,870 )
NET ASSETS 871,268 956,435

CAPITAL AND RESERVES
Called up share capital 105 105
Fair value reserve 9 66,634 (1,400 )
Retained earnings 804,529 957,730
871,268 956,435

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

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

MIDDLESEX FLOORING LIMITED (REGISTERED NUMBER: 03027445)

STATEMENT OF FINANCIAL POSITION - continued
30 September 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 4 March 2025 and were signed on its behalf by:





C Gargan - Director


MIDDLESEX FLOORING LIMITED (REGISTERED NUMBER: 03027445)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Middlesex Flooring 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods and services are recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, or when the service has been provided. The amount of revenue must be able to be measured reliably, it is considered probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 etc - 25% on cost, 20% on cost and 10% on cost

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

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

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 the Statement of Comprehensive Income.

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.


MIDDLESEX FLOORING LIMITED (REGISTERED NUMBER: 03027445)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 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 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.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

Investments
Investments in Company shares, whose market value can be reliably determined, as remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

MIDDLESEX FLOORING LIMITED (REGISTERED NUMBER: 03027445)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 352,871
Additions 5,748
Disposals (18,933 )
At 30 September 2024 339,686
DEPRECIATION
At 1 October 2023 243,194
Charge for year 59,103
Eliminated on disposal (12,820 )
At 30 September 2024 289,477
NET BOOK VALUE
At 30 September 2024 50,209
At 30 September 2023 109,677

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 75,229
DEPRECIATION
At 1 October 2023 39,182
Charge for year 18,807
At 30 September 2024 57,989
NET BOOK VALUE
At 30 September 2024 17,240
At 30 September 2023 36,047

MIDDLESEX FLOORING LIMITED (REGISTERED NUMBER: 03027445)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2023 406,021
Disposals (2,020 )
Revaluations 66,188
At 30 September 2024 470,189
NET BOOK VALUE
At 30 September 2024 470,189
At 30 September 2023 406,021

The historic cost of the investments at 30 September 2023 was £381,344 (2023 - £383,250).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 461,704 633,245
Other debtors 9,000 9,000
470,704 642,245

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 10,162 9,909
Hire purchase contracts 14,423 15,678
Trade creditors 103,373 102,292
Taxation and social security 97,049 111,097
Other creditors 54,053 85,999
279,060 324,975

Included in other creditors due within one year are accruals and deferred income of £54,053 (2022: £85,999).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 12,170 24,108
Hire purchase contracts - 13,925
12,170 38,033

MIDDLESEX FLOORING LIMITED (REGISTERED NUMBER: 03027445)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

9. RESERVES
Fair
value
reserve
£   
At 1 October 2023 (1,400 )
Current year adjustment 68,034

At 30 September 2024 66,634

The fair value reserve represents unrealised gains on investments that are not distributable, net of adjustments for current and deferred tax.