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REGISTERED NUMBER: 05946685 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MIDWAY CLOTHING LIMITED

MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDWAY CLOTHING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: S J Widdowson
Mrs S J Widdowson





SECRETARY: Mrs S J Widdowson





REGISTERED OFFICE: 29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA





REGISTERED NUMBER: 05946685 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,638 1,682

CURRENT ASSETS
Stocks 18,259 14,985
Debtors 5 60,796 69,001
Cash at bank 9,238 5,084
88,293 89,070
CREDITORS
Amounts falling due within one year 6 87,521 85,918
NET CURRENT ASSETS 772 3,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,410

4,834

CREDITORS
Amounts falling due after more than one
year

7

1,323

4,442
NET ASSETS 1,087 392

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 1,077 382
SHAREHOLDERS' FUNDS 1,087 392

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2025 and were signed on its behalf by:





S J Widdowson - Director


MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

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

Turnover is recognised when sufficient risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.This is usually on dispatch of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost (ot deemed cost) or valuation less accumulated depreciation and accumulated impairment loses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks 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 Statement of Income and Retained Earnings, 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.


MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 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.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 - 4,721 1,632 6,353
Additions 671 - - 671
At 31 December 2024 671 4,721 1,632 7,024
DEPRECIATION
At 1 January 2024 - 3,855 816 4,671
Charge for year 134 173 408 715
At 31 December 2024 134 4,028 1,224 5,386
NET BOOK VALUE
At 31 December 2024 537 693 408 1,638
At 31 December 2023 - 866 816 1,682

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 34,217 30,605
Other debtors 6,579 6,579
Directors' current accounts 20,000 31,817
60,796 69,001

MIDWAY CLOTHING LIMITED (REGISTERED NUMBER: 05946685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 3,119 3,042
Trade creditors 67,453 54,791
Corporation tax 7,529 19,498
Social security and other taxes 7,890 7,138
Other creditors 1,530 1,449
87,521 85,918

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 1,323 4,442

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
10 Ordinary £1 10 10

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
S J Widdowson and Mrs S J Widdowson
Balance outstanding at start of year 31,817 26,317
Amounts advanced 13,683 5,500
Amounts repaid (25,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,000 31,817

No interest has been charged in the year.