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Registered Number: 05221635


 

 

 

MIDLAND ABRASIVES LTD



Abridged Accounts
 


Period of accounts

Start date: 01 April 2024

End date: 31 March 2025
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2025 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Doyles
31 March 2025



....................................................

Doyles

51 Station Road
Marston Green
Birmingham
B37 7AB
01 August 2025
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 13,704    6,382 
13,704    6,382 
Current assets      
Stocks 83,370    80,324 
Debtors 35,161    34,873 
Cash at bank and in hand 34,545    53,400 
153,076    168,597 
Creditors: amount falling due within one year (44,056)   (32,323)
Net current assets 109,020    136,274 
 
Total assets less current liabilities 122,724    142,656 
Provisions for liabilities (2,604)   (1,203)
Net assets 120,120    141,453 
 

Capital and reserves
     
Called up share capital 4 90    90 
Profit and loss account 120,030    141,363 
Shareholders' funds 120,120    141,453 
 


For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 01 August 2025 and were signed by:


-------------------------------
Carl Davis
Director
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General Information
MIDLAND ABRASIVES LTD is a private company, limited by shares, registered in , registration number 05221635, registration address UNIT 9 BOULTON INDUSTRIAL CENTRE, ICKNIELD STREET, BIRMINGHAM, WEST MIDLANDS, B18 5AU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2024 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 April 2024 6,004    10,244    2,610    18,858 
Additions 9,462      2,722    12,184 
Disposals   (10,244)     (10,244)
At 31 March 2025 15,466      5,332    20,798 
Depreciation
At 01 April 2024 2,157    10,094    225    12,476 
Charge for year 3,436    150    1,276    4,862 
On disposals   (10,244)     (10,244)
At 31 March 2025 5,593      1,501    7,094 
Net book values
Closing balance as at 31 March 2025 9,873      3,831    13,704 
Opening balance as at 01 April 2024 3,847    150    2,385    6,382 


4.

Share Capital

Allotted, called up and fully paid
2025
£
  2024
£
90 Class A shares of £1.00 each 90    90 
90    90 

5.

Controlling Parties

The company's ultimate controlling party is the Director by virtue of their 100% interest in the share capital of the company.


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