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Company No: 06879072 (England and Wales)

MIDLANDS INVESTMENT LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

MIDLANDS INVESTMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024

Contents

MIDLANDS INVESTMENT LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
MIDLANDS INVESTMENT LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
DIRECTOR A Chong
REGISTERED OFFICE No. 5 Cosmo House
53 Wood Street
High Barnet
EN5 4BS
United Kingdom
COMPANY NUMBER 06879072 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
2nd Floor
201 Great Portland Street
Marylebone
London
W1W 5AB
United Kingdom
MIDLANDS INVESTMENT LTD

BALANCE SHEET

AS AT 30 SEPTEMBER 2024
MIDLANDS INVESTMENT LTD

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 187,540 220,636
187,540 220,636
Current assets
Debtors 4 643,679 354,883
Cash at bank and in hand 184,233 101,168
827,912 456,051
Creditors: amounts falling due within one year 5 ( 188,918) ( 75,779)
Net current assets 638,994 380,272
Total assets less current liabilities 826,534 600,908
Creditors: amounts falling due after more than one year 6 0 ( 8,871)
Net assets 826,534 592,037
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account 825,534 591,037
Total shareholders' funds 826,534 592,037

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Midlands Investment Ltd (registered number: 06879072) were approved and authorised for issue by the Director on 29 May 2025. They were signed on its behalf by:

A Chong
Director
MIDLANDS INVESTMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
MIDLANDS INVESTMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Midlands Investment Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is No. 5 Cosmo House, 53 Wood Street, High Barnet, EN5 4BS, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Taxation

Current tax
The tax expense represents the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 15 % reducing balance
Plant and machinery etc. 15 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

***Classification of financial liabilities***
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 October 2023 383,870 280,338 664,208
At 30 September 2024 383,870 280,338 664,208
Accumulated depreciation
At 01 October 2023 282,200 161,372 443,572
Charge for the financial year 15,251 17,845 33,096
At 30 September 2024 297,451 179,217 476,668
Net book value
At 30 September 2024 86,419 101,121 187,540
At 30 September 2023 101,670 118,966 220,636

4. Debtors

2024 2023
£ £
Trade debtors 325,157 0
Other debtors 318,522 354,883
643,679 354,883

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 15,973 0
Trade creditors 39,781 22,219
Taxation and social security 100,158 38,554
Other creditors 33,006 15,006
188,918 75,779

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 8,871

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
600 Ordinary A shares of £ 1.00 each 600 600
400 Ordinary B shares of £ 1.00 each 400 400
1,000 1,000

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 0 90,000