MCF Midlands Limited 11285862 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is that of a holding company Digita Accounts Production Advanced 6.30.9574.0 true false true true 11285862 2023-11-01 2024-10-31 11285862 2024-10-31 11285862 core:RetainedEarningsAccumulatedLosses 2024-10-31 11285862 core:ShareCapital 2024-10-31 11285862 core:CurrentFinancialInstruments 2024-10-31 11285862 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 11285862 core:AllSubsidiaries 2024-10-31 11285862 bus:SmallEntities 2023-11-01 2024-10-31 11285862 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 11285862 bus:FilletedAccounts 2023-11-01 2024-10-31 11285862 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 11285862 bus:RegisteredOffice 2023-11-01 2024-10-31 11285862 bus:Director1 2023-11-01 2024-10-31 11285862 bus:Director2 2023-11-01 2024-10-31 11285862 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 11285862 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 11285862 core:AllSubsidiaries 2023-11-01 2024-10-31 11285862 core:Subsidiary1 2023-11-01 2024-10-31 11285862 core:Subsidiary1 1 2023-11-01 2024-10-31 11285862 core:Subsidiary1 countries:AllCountries 2023-11-01 2024-10-31 11285862 countries:EnglandWales 2023-11-01 2024-10-31 11285862 2023-10-31 11285862 core:CostValuation 2023-10-31 11285862 core:AllSubsidiaries 2023-10-31 11285862 2022-11-01 2023-10-31 11285862 2023-10-31 11285862 core:RetainedEarningsAccumulatedLosses 2023-10-31 11285862 core:ShareCapital 2023-10-31 11285862 core:CurrentFinancialInstruments 2023-10-31 11285862 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 11285862 core:AllSubsidiaries 2023-10-31 11285862 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 11285862 core:AllSubsidiaries 2022-11-01 2023-10-31 11285862 core:Subsidiary1 1 2022-11-01 2023-10-31 11285862 2022-10-31 11285862 core:AllSubsidiaries 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 11285862

MCF Midlands Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

MCF Midlands Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

MCF Midlands Limited

Company Information

Directors

Mr MA Fletcher

Mrs C Fletcher

Registered office

Units 4 And 5 Gregston Ind Est
Birmingham Road
Oldbury
B69 4EX

 

MCF Midlands Limited

(Registration number: 11285862)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

429,000

429,000

Current assets

 

Cash at bank and in hand

 

38

2,498

Creditors: Amounts falling due within one year

5

(36,639)

(61,729)

Net current liabilities

 

(36,601)

(59,231)

Net assets

 

392,399

369,769

Capital and reserves

 

Called up share capital

1

1

Retained earnings

392,398

369,768

Shareholders' funds

 

392,399

369,769

 

MCF Midlands Limited

(Registration number: 11285862)
Balance Sheet as at 31 October 2024 (continued)

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

.........................................
Mr MA Fletcher
Director

   
     
 

MCF Midlands Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Units 4 And 5 Gregston Ind Est
Birmingham Road
Oldbury
B69 4EX
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

MCF Midlands Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

MCF Midlands Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Investments

2024
£

2023
£

Investments in subsidiaries

429,000

429,000

Subsidiaries

£

Cost or valuation

At 1 November 2023

429,000

Provision

Carrying amount

At 31 October 2024

429,000

At 31 October 2023

429,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Premier Hose Limited

Units 4/5,
Gregston Industrial Estate,
Birmingham Road,
Oldbury,
West Midlands,
B69 4EX.

England

Ordinary £1

100%

100%

Subsidiary undertakings

Premier Hose Limited

The principal activity of Premier Hose Limited is Hydraulic Hose Franchise.

 

MCF Midlands Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Other Loans

6

-

24,000

Other creditors

 

36,639

37,729

 

36,639

61,729

Creditors: amounts falling due after more than one year

2024
£

2023
£

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other loans

-

24,000

Other borrowings

Loan Mr and Mrs R Greasley is denominated in £ with a nominal interest rate of 0%, and the final instalment is due on 31 January 2024. The carrying amount at year end is £Nil (2023 - £24,000).

 

MCF Midlands Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £73,200.00 (2023 - £65,799.00) per each Ordinary £1

73,200

65,799

 

 

8

Related party transactions

Summary of transactions with subsidiaries


Premier Hose Limited

 
During the year Premier Hose Limited paid Dividends to MCF Midlands Limited amounting to £97,200 (2023: £141,300).

 

Loans from related parties

2024

Subsidiary
£

Total
£

At start of period

37,285

37,285

Repaid

(1,090)

(1,090)

At end of period

36,195

36,195

2023

Subsidiary
£

Total
£

At start of period

43,576

43,576

Repaid

(6,291)

(6,291)

At end of period

37,285

37,285