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Registration number: 08658753

Mid-Cheshire Panels Ltd

Unaudited Filleted Financial Statements

for the Period from 1 May 2024 to 31 March 2025

 

Mid-Cheshire Panels Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Mid-Cheshire Panels Ltd

Company Information

Directors

Mr Paul James Rivers

Mr Michael David Gilligan

Registered office

Leslie Road
Woodford Park Industrial Estate
Winsford
Cheshire
CW7 2RB

Accountants

Knight Brown Chartered Certified Accountants
3 Crewe Road
Sandbach
Cheshire
CW11 4NE

 

Mid-Cheshire Panels Ltd

(Registration number: 08658753)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

707

819

Current assets

 

Stocks

6

8,250

7,000

Debtors

7

1,540

411

Cash at bank and in hand

 

7,453

8,187

 

17,243

15,598

Creditors: Amounts falling due within one year

8

(3,324)

(5,141)

Net current assets

 

13,919

10,457

Total assets less current liabilities

 

14,626

11,276

Provisions for liabilities

(178)

(156)

Net assets

 

14,448

11,120

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

14,348

11,020

Shareholders' funds

 

14,448

11,120

For the financial period ending 31 March 2025 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 period 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 and 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 24 June 2025 and signed on its behalf by:
 

.........................................
Mr Paul James Rivers
Director

 

Mid-Cheshire Panels Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 March 2025

1

General information

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

The address of its registered office is:
Leslie Road
Woodford Park Industrial Estate
Winsford
Cheshire
CW7 2RB
United Kingdom

These financial statements were authorised for issue by the Board on 24 June 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mid-Cheshire Panels Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15% Reducing balance

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Mid-Cheshire Panels Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 March 2025

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2024 - 2).

4

Taxation

Tax charged/(credited) in the profit and loss account

2025
£

2024
£

Current taxation

UK corporation tax

812

2,610

Deferred taxation

Arising from origination and reversal of timing differences

22

(27)

Tax expense in the income statement

834

2,583

 

Mid-Cheshire Panels Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 March 2025

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2024

4,895

4,895

At 31 March 2025

4,895

4,895

Depreciation

At 1 May 2024

4,076

4,076

Charge for the period

112

112

At 31 March 2025

4,188

4,188

Carrying amount

At 31 March 2025

707

707

At 30 April 2024

819

819

6

Stocks

2025
£

2024
£

Other inventories

8,250

7,000

7

Debtors

Note

2025
£

2024
£

Trade debtors

 

842

-

Amounts owed by related parties

10

100

100

Prepayments

 

598

311

 

1,540

411

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

992

294

Taxation and social security

1,132

3,522

Accruals and deferred income

1,200

1,325

3,324

5,141

 

Mid-Cheshire Panels Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 March 2025

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Related party transactions

Summary of transactions with parent

Mid-Cheshire Pallets Ltd
Parent Transactions

As at the balance sheet date, Mid-Cheshire Pallets Ltd owed the company £100 ( 2024: £100) in relation to the share capital introduction.

11

Parent and ultimate parent undertaking

The company's immediate parent is Mid-Cheshire Pallets Ltd, incorporated in England & Wales.

 The ultimate parent is M&M Holdings (Cheshire) Ltd, incorporated in England & Wales.