Registered number
04090513
Midlands Power and Motion Ltd
Report and Accounts
31 December 2024
Midlands Power and Motion Ltd
Registered number: 04090513
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 44,302 41,893
Current assets
Stocks 200,160 43,160
Debtors 4 93,615 147,942
Cash at bank and in hand 791,961 755,347
1,085,736 946,449
Creditors: amounts falling due within one year 5 (598,337) (542,770)
Net current assets 487,399 403,679
Net assets 531,701 445,572
Capital and reserves
Called up share capital 95 95
Share premium 18,000 18,000
Profit and loss account 513,606 427,477
Shareholders' funds 531,701 445,572
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A.M.McHugh
Director
Approved by the board on 13 March 2025
Midlands Power and Motion Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Motor vehicles 25% straight line
Warehouse Equipment 25% straight line
Computer equipment 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Warehouse equipment Plant, machinery and computer equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 30,771 47,373 67,363 145,507
Additions 11,459 - 14,900 26,359
Disposals - - (23,395) (23,395)
At 31 December 2024 42,230 47,373 58,868 148,471
Depreciation
At 1 January 2024 30,770 46,276 26,568 103,614
Charge for the year 852 1,094 13,253 15,199
On disposals - - (14,644) (14,644)
At 31 December 2024 31,622 47,370 25,177 104,169
Net book value
At 31 December 2024 10,608 3 33,691 44,302
At 31 December 2023 1 1,097 40,795 41,893
4 Debtors 2024 2023
£ £
Trade debtors 93,615 147,942
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 123,661 179,726
Corporation tax 56,071 15,706
Other taxes and social security costs 29,760 12,695
Other creditors 388,845 334,643
598,337 542,770
6 Other information
Midlands Power and Motion Ltd is a private company limited by shares and incorporated in England. Its registered office is:
15 Royal Oak Way South
Royal Oak Industrial Estate
Daventry
Northamptonshire
NN11 8PJ
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