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REGISTERED NUMBER: 08275319 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

MIDLAND SOURCING SOLUTIONS LIMITED

MIDLAND SOURCING SOLUTIONS LIMITED (REGISTERED NUMBER: 08275319)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDLAND SOURCING SOLUTIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTORS: A J Hawkins
Mrs J C Hawkins





REGISTERED OFFICE: Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY





REGISTERED NUMBER: 08275319 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

MIDLAND SOURCING SOLUTIONS LIMITED (REGISTERED NUMBER: 08275319)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,523 1,488

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 5 62,212 81,234
Cash at bank and in hand 7,997 104
71,709 82,838
CREDITORS
Amounts falling due within one year 6 68,350 66,614
NET CURRENT ASSETS 3,359 16,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,882

17,712

CREDITORS
Amounts falling due after more than one year 7 (3,500 ) (9,500 )

PROVISIONS FOR LIABILITIES (480 ) (283 )
NET ASSETS 1,902 7,929

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 1,898 7,925
SHAREHOLDERS' FUNDS 1,902 7,929

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

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

MIDLAND SOURCING SOLUTIONS LIMITED (REGISTERED NUMBER: 08275319)

BALANCE SHEET - continued
31 October 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 26 March 2025 and were signed on its behalf by:





A J Hawkins - Director


MIDLAND SOURCING SOLUTIONS LIMITED (REGISTERED NUMBER: 08275319)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Midland Sourcing Solutions 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 represents net invoiced sales of goods and services, excluding value added tax.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% 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.

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.

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.

MIDLAND SOURCING SOLUTIONS LIMITED (REGISTERED NUMBER: 08275319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 5,705 1,469 72,029 3,918 83,121
Additions 2,500 - - - 2,500
Disposals (4,385 ) - - (608 ) (4,993 )
At 31 October 2024 3,820 1,469 72,029 3,310 80,628
DEPRECIATION
At 1 November 2023 4,852 834 72,029 3,918 81,633
Charge for year 1,148 317 - - 1,465
Eliminated on disposal (4,385 ) - - (608 ) (4,993 )
At 31 October 2024 1,615 1,151 72,029 3,310 78,105
NET BOOK VALUE
At 31 October 2024 2,205 318 - - 2,523
At 31 October 2023 853 635 - - 1,488

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 39,137 58,695
Other debtors 23,075 22,539
62,212 81,234

MIDLAND SOURCING SOLUTIONS LIMITED (REGISTERED NUMBER: 08275319)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,000 7,236
Trade creditors 40,360 27,353
Taxation and social security 20,315 30,502
Other creditors 1,675 1,523
68,350 66,614

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 3,500 9,500

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
A J Hawkins and Mrs J C Hawkins
Balance outstanding at start of year 12,563 10,357
Amounts advanced 4,260 2,206
Amounts repaid (3,400 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,423 12,563

9. CONTROLLING PARTY

The controlling party is the directors.