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REGISTERED NUMBER: 09736782 (England and Wales)









MIDAS AVIATION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






MIDAS AVIATION LTD (REGISTERED NUMBER: 09736782)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


MIDAS AVIATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTORS: D Fulton
J Grant





REGISTERED OFFICE: Crown House
27 Old Gloucester Street
London
WC1N 3AX





REGISTERED NUMBER: 09736782 (England and Wales)





ACCOUNTANTS: russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MIDAS AVIATION LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Midas Aviation Ltd for the year ended 31st August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Midas Aviation Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Midas Aviation Ltd and state those matters that we have agreed to state to the Board of Directors of Midas Aviation Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Midas Aviation Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Midas Aviation Ltd. You consider that Midas Aviation Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Midas Aviation Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL


29th May 2025

MIDAS AVIATION LTD (REGISTERED NUMBER: 09736782)

BALANCE SHEET
31ST AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,232 1,642

CURRENT ASSETS
Debtors 5 82,869 51,234
Cash at bank 33,814 40,000
116,683 91,234
CREDITORS
Amounts falling due within one year 6 9,103 20,137
NET CURRENT ASSETS 107,580 71,097
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,812

72,739

CAPITAL AND RESERVES
Called up share capital 7 3 3
Retained earnings 108,809 72,736
SHAREHOLDERS' FUNDS 108,812 72,739

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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 29th May 2025 and were signed on its behalf by:



J Grant - Director



D Fulton - Director


MIDAS AVIATION LTD (REGISTERED NUMBER: 09736782)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

Midas Aviation Ltd 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
The turnover shown in the profit and loss account represents the sales value of work done during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer Equipment25% Reducing Balance

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 2 (2023 - 3 ) .

MIDAS AVIATION LTD (REGISTERED NUMBER: 09736782)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st September 2023
and 31st August 2024 3,893
DEPRECIATION
At 1st September 2023 2,251
Charge for year 410
At 31st August 2024 2,661
NET BOOK VALUE
At 31st August 2024 1,232
At 31st August 2023 1,642

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 70,806 48,557
Other debtors 12,063 2,677
82,869 51,234

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 40 16,673
Taxation and social security 5,065 1,327
Other creditors 3,998 2,137
9,103 20,137

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
3 Ordinary 1 3 3

8. ULTIMATE CONTROLLING PARTY

The company was under the control of D Fulton and J Grant throughout the current and previous year.