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Registered number: 11903697
Midon Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Bennett Verby Limited
7 St Petersgate
Stockport
Cheshire
SK1 1EB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11903697
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 154,866 142,902
154,866 142,902
CURRENT ASSETS
Stocks 5 278,661 112,718
Debtors 6 770,167 752,792
Cash at bank and in hand 148,261 179,437
1,197,089 1,044,947
Creditors: Amounts Falling Due Within One Year 7 (575,967 ) (394,203 )
NET CURRENT ASSETS (LIABILITIES) 621,122 650,744
TOTAL ASSETS LESS CURRENT LIABILITIES 775,988 793,646
Creditors: Amounts Falling Due After More Than One Year 8 (71,970 ) (106,515 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (32,018 ) (35,726 )
NET ASSETS 672,000 651,405
CAPITAL AND RESERVES
Called up share capital 10 10,100 10,100
Profit and Loss Account 661,900 641,305
SHAREHOLDERS' FUNDS 672,000 651,405
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Christelow
Director
24 September 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Midon Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11903697 . The registered office is Unit 3d Lyncastle Road, Appleton, Warrington, Cheshire, WA4 4SN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 22.65% straight line
Computer Equipment 20% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 17)
17 17
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 - 39,901 97,759 68,105
Additions 27,491 - 2,850 20,210
As at 31 December 2024 27,491 39,901 100,609 88,315
Depreciation
As at 1 January 2024 - 6,337 19,136 39,591
Provided during the period 696 6,713 16,200 15,834
As at 31 December 2024 696 13,050 35,336 55,425
Net Book Value
As at 31 December 2024 26,795 26,851 65,273 32,890
As at 1 January 2024 - 33,564 78,623 28,514
Computer Equipment Total
£ £
Cost
As at 1 January 2024 4,392 210,157
Additions 1,919 52,470
As at 31 December 2024 6,311 262,627
...CONTINUED
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Depreciation
As at 1 January 2024 2,191 67,255
Provided during the period 1,063 40,506
As at 31 December 2024 3,254 107,761
Net Book Value
As at 31 December 2024 3,057 154,866
As at 1 January 2024 2,201 142,902
5. Stocks
2024 2023
£ £
Work in progress 278,661 112,718
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 621,540 512,849
Amounts owed by participating interests - 154,148
Other debtors 148,627 85,795
770,167 752,792
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 330,082 275,191
Bank loans and overdrafts 34,545 34,545
Other creditors 174,311 37,986
Taxation and social security 37,029 46,481
575,967 394,203
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 71,970 106,515
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2024 35,726 35,726
Utilised (3,708 ) (3,708)
Balance at 31 December 2024 32,018 32,018
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,100 10,100
11. Related Party Transactions
At the year end SLX Financial Limited, a connected company, owed Midon Limited £4,148 (2023: £154,148).
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