REGISTERED NUMBER: 06257261 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2024

for

Midland Trade Frames Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Breslin

J H Breslin

SECRETARY:

J H Breslin

REGISTERED OFFICE:

Unit G3

Marley Way

Banbury

Oxfordshire

OX16 2RL

REGISTERED NUMBER:

06257261 (England and Wales)

ACCOUNTANTS:

Crossley and Co.

122 Winchcombe Street

Cheltenham

Gloucestershire

GL52 2NW

FIXED ASSETS

Tangible assets

4

774,660

411,723

CURRENT ASSETS

Stocks

5

61,550

61,550

Debtors

6

794,325

663,093

Cash at bank and in hand

1,121,438

1,401,704

1,977,313

2,126,347

CREDITORS

Amounts falling due within one year

7

2,003,058

2,114,528

NET CURRENT (LIABILITIES)/ASSETS

(25,745

)

11,819

TOTAL ASSETS LESS CURRENT LIABILITIES

748,915

423,542

CREDITORS

Amounts falling due after more than one year

8

(343,024

)

(163,059

)

PROVISIONS FOR LIABILITIES

9

(143,360

)

(96,882

)

NET ASSETS

262,531

163,601

CAPITAL AND RESERVES

Called up share capital

10

179

179

Retained earnings

262,352

163,422

SHAREHOLDERS' FUNDS

262,531

163,601

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 9 December 2024 and were signed on its behalf by:

R J Breslin - Director

J H Breslin - Director

1.	STATUTORY INFORMATION

Midland Trade Frames 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 29 (2023 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2023

74,176

423,315

289,036

37,973

824,500

Additions

1,851

101,392

327,942

-

431,185

At 30 September 2024

76,027

524,707

616,978

37,973

1,255,685

DEPRECIATION

At 1 October 2023

28,009

299,562

55,537

29,669

412,777

Charge for year

10,075

23,615

30,199

4,359

68,248

At 30 September 2024

38,084

323,177

85,736

34,028

481,025

NET BOOK VALUE

At 30 September 2024

37,943

201,530

531,242

3,945

774,660

At 30 September 2023

46,167

123,753

233,499

8,304

411,723

5.

STOCKS

30.9.24

30.9.23

£

£

Stocks

61,550

61,550

6.

DEBTORS

30.9.24

30.9.23

£

£

Amounts falling due within one year:

Trade debtors

378,172

234,373

Other debtors

344,615

357,182

722,787

591,555

Amounts falling due after more than one year:

Other debtors

71,538

71,538

Aggregate amounts

794,325

663,093

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Hire purchase contracts

105,889

83,898

Trade creditors

371,022

262,656

Taxation and social security

67,567

193,951

Other creditors

1,458,580

1,574,023

2,003,058

2,114,528

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Hire purchase contracts

343,024

163,059

9.	PROVISIONS FOR LIABILITIES

30.9.24

30.9.23

£

£

Deferred tax

143,360

96,882

Deferred

tax

£

Balance at 1 October 2023

96,882

Provided during year

46,478

Balance at 30 September 2024

143,360

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

£

150

Ordinary

1

150

150

2

A and B Ordinary

1

2

2

27

C Class

1

27

27

179

179

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company advanced an unsecured loan of £202,383.91 to R Breslin, a director of the company. The loan has no fixed repayment date but is subject to annual repayments and interest at the prevailing rate..