Midland Lamps and Panels Limited 30/06/2025 iXBRL

Company registration number: 07574738

Midland Lamps and Panels Limited

Trading as Midland Lamps And Panels Limited

Unaudited filleted financial statements

30 June 2025

Midland Lamps and Panels Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Midland Lamps and Panels Limited

Directors and other information


	Directors	Mr M K Patel
		Mr S Thanki


	Company number	07574738


	Registered office	36a Hurst Lane
		Tipton
		Wolverhampton
		West Midlands
		DY4 9AB


	Business address	36a Hurst Lane
		Tipton
		Wolverhampton
		West Midlands
		DY4 9AB


	Accountants	Hindocha Pandit & Co Limited
		4th Floor Elizabeth House
		54-58 High Street
		Edgware
		Middlesex
		HA8 7EJ




	Bankers	NatWest Bank
		135 Bishopsgate
		London
		EC2M 3UR

Midland Lamps and Panels Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Midland Lamps and Panels Limited

Year ended 30 June 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Midland Lamps and Panels Limited for the year ended 30 June 2025 which comprise the statement of financial position and 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/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of Midland Lamps and Panels Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Midland Lamps and Panels Limited and state those matters that we have agreed to state to the board of directors of Midland Lamps and Panels Limited 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 Midland Lamps and Panels Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Midland Lamps and Panels Limited 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 Midland Lamps and Panels Limited. You consider that Midland Lamps and Panels Limited 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 Midland Lamps and Panels Limited. 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.

Hindocha Pandit & Co Limited

Chartered Certified Accountants & Chartered Tax Advisers

4th Floor Elizabeth House

54-58 High Street

Edgware

Middlesex

HA8 7EJ

26 August 2025

Midland Lamps and Panels Limited

Statement of financial position

30 June 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	73,827		84,869
		_______		_______
			73,827		84,869

Current assets
Stocks		80,272		90,111
Debtors	7	14,953		17,506
Cash at bank and in hand		1,564,838		1,403,674
		_______		_______
		1,660,063		1,511,291
Creditors: amounts falling due
within one year	8	( 435,978)		( 455,619)
		_______		_______
Net current assets			1,224,085		1,055,672
			_______		_______
Total assets less current liabilities			1,297,912		1,140,541

Creditors: amounts falling due
after more than one year	9		( 14,211)		( 30,128)

Provisions for liabilities			( 10,460)		( 10,460)

			_______		_______
Net assets			1,273,241		1,099,953
			_______		_______

Capital and reserves
Called up share capital			400		400
Profit and loss account			1,272,841		1,099,553
			_______		_______
Shareholders funds			1,273,241		1,099,953
			_______		_______

For the year ending 30 June 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 26 August 2025 , and are signed on behalf of the board by:

Mr M K Patel Mr S Thanki

Director Director

Company registration number: 07574738

Midland Lamps and Panels Limited

Notes to the financial statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/o Midland Lamps, 36a Hurst Lane, Tipton, Wolverhampton, West Midlands, DY4 9AB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25% %	reducing balance
Fittings fixtures and equipment	-	25% %	reducing balance
Motor vehicles	-	25% %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2024: 12 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 July 2024 and 30 June 2025	500,000	500,000
	_______	_______
Amortisation
At 1 July 2024 and 30 June 2025	500,000	500,000
	_______	_______
Carrying amount
At 30 June 2025	-	-
	_______	_______
At 30 June 2024	-	-
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 July 2024	8,525	26,383	164,456	199,364
Additions	-	10,175	-	10,175
	_______	_______	_______	_______
At 30 June 2025	8,525	36,558	164,456	209,539
	_______	_______	_______	_______
Depreciation
At 1 July 2024	7,722	18,450	88,323	114,495
Charge for the year	201	1,983	19,033	21,217
	_______	_______	_______	_______
At 30 June 2025	7,923	20,433	107,356	135,712
	_______	_______	_______	_______
Carrying amount
At 30 June 2025	602	16,125	57,100	73,827
	_______	_______	_______	_______
At 30 June 2024	803	7,933	76,133	84,869
	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	1,548	3,482
Other debtors	13,405	14,024
	_______	_______
	14,953	17,506
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	213,127	253,467
Corporation tax	118,777	120,274
Social security and other taxes	67,045	39,620
Other creditors	37,029	42,258
	_______	_______
	435,978	455,619
	_______	_______

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

	2025	2024
	£	£
Other creditors	14,211	30,128
	_______	_______

10. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr M K Patel	( 3,408)	( 2,020)	1,815	( 3,613)
	Mr S Thanki	( 5,286)	( 2,023)	1,424	( 5,885)
		_______	_______	_______	_______
		( 8,694)	( 4,043)	3,239	( 9,498)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr M K Patel	( 3,848)	-	440	( 3,408)
	Mr S Thanki	( 6,185)	-	899	( 5,286)
		_______	_______	_______	_______
		( 10,033)	-	1,339	( 8,694)
		_______	_______	_______	_______

11. Controlling party

During the year the company was under the control of Mr M Patel and Mr S Thanki who are the directors and majority shareholders.