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REGISTERED NUMBER: 01115801 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 June 2024

for

MIDAS FLOORS LIMITED

MIDAS FLOORS LIMITED (REGISTERED NUMBER: 01115801)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MIDAS FLOORS LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R A Dickinson
Mrs S Dickinson
Mrs S McCormack
B Dickinson



SECRETARY: Mrs S McCormack



REGISTERED OFFICE: Unit 20
Dollman Street
Nechells
Birmingham
B7 4RP



REGISTERED NUMBER: 01115801 (England and Wales)



ACCOUNTANTS: A K Papadamou & Co
Accountants & Tax Advisors
573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



BANKERS: Natwest Bank PLC
2 St Philips Place
Birmingham
West Midlands
B3 2RB

MIDAS FLOORS LIMITED (REGISTERED NUMBER: 01115801)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127,163 78,083

CURRENT ASSETS
Stocks 5 6,167 6,291
Debtors 6 281,400 228,522
Cash at bank and in hand 124,384 175,668
411,951 410,481
CREDITORS
Amounts falling due within one year 7 127,387 121,374
NET CURRENT ASSETS 284,564 289,107
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,727

367,190

CAPITAL AND RESERVES
Called up share capital 8,400 8,400
Retained earnings 403,327 358,790
SHAREHOLDERS' FUNDS 411,727 367,190

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

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

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 6 February 2025 and were signed on its behalf by:





R A Dickinson - Director


MIDAS FLOORS LIMITED (REGISTERED NUMBER: 01115801)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Midas Floors 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 1,959 22,139 32,683 240,927 297,708
Additions - 1,185 - 84,458 85,643
Disposals - - - (63,410 ) (63,410 )
At 30 June 2024 1,959 23,324 32,683 261,975 319,941
DEPRECIATION
At 1 July 2023 - 18,192 31,806 169,627 219,625
Charge for year - 2,964 178 33,421 36,563
Eliminated on disposal - - - (63,410 ) (63,410 )
At 30 June 2024 - 21,156 31,984 139,638 192,778
NET BOOK VALUE
At 30 June 2024 1,959 2,168 699 122,337 127,163
At 30 June 2023 1,959 3,947 877 71,300 78,083

MIDAS FLOORS LIMITED (REGISTERED NUMBER: 01115801)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. STOCKS
2024 2023
£    £   
Stocks 6,167 6,291

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 172,099 121,530
Other debtors 109,301 106,992
281,400 228,522

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 58,068 55,061
Taxation and social security 62,889 64,309
Other creditors 6,430 2,004
127,387 121,374

8. ULTIMATE CONTROLLING PARTY

The controlling party is the board of directors.