Mid Wales Storage and Distribution Centre Limited

Mid Wales Storage and Distribution Centre Limited
Registered number:		03490117
Balance Sheet
as at 31 January 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		1,307,479			1,313,349

Current assets
Debtors	4	32,603			71,099
Cash at bank and in hand		469,750			405,569
		502,353			476,668

Creditors: amounts falling due within one year	5	(91,310)			(109,657)

Net current assets			411,043			367,011

Total assets less current liabilities			1,718,522			1,680,360

Creditors: amounts falling due after more than one year	6		(548,931)			(615,111)



Net assets			1,169,591			1,065,249

Capital and reserves
Called up share capital			100			100
Revaluation reserve	8		144,973			144,973
Profit and loss account			1,024,518			920,176

Shareholders' funds			1,169,591			1,065,249

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M Sciacca
Director
Approved by the board on 6 February 2025

Mid Wales Storage and Distribution Centre Limited
Notes to the Accounts
for the year ended 31 January 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 10 years
	Motor vehicles			over 5 years

	No depreciation is provided on the company's freehold properties.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					5		5


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost or valuation
	At 1 February 2024	1,120,000		466,398		43,996		1,630,394
	Additions	-		31,050		-		31,050
	At 31 January 2025	1,120,000		497,448		43,996		1,661,444

	Depreciation
	At 1 February 2024	-		308,385		8,660		317,045
	Charge for the year	-		24,920		12,000		36,920
	At 31 January 2025	-		333,305		20,660		353,965

	Net book value
	At 31 January 2025	1,120,000		164,143		23,336		1,307,479
	At 31 January 2024	1,120,000		158,013		35,336		1,313,349

	Freehold land and buildings have been included at the revalued amount in accordance with the
	professional valuation carried out on 25 July 2024 by Roger Parry & Partners LLP.
	The historical cost was £975,027.

4	Debtors					2025		2024
£							£

	Trade debtors					32,603		71,099


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Obligations under finance lease and hire purchase contracts					11,518		11,518
	Trade creditors					16,524		30,143
	Corporation tax					40,284		38,019
	Other taxes and social security costs					22,984		29,977
						91,310		109,657


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					545,083		599,745
	Obligations under finance lease and hire purchase contracts					3,848		15,366
						548,931		615,111


7	Loans					2025		2024
£							£
	Creditors include:

	Secured bank loans					526,019		570,647

	The bank loans are secured by a fixed and floating charge over the company's freehold property and other assets.


8	Revaluation reserve					2025		2024
£							£

	At 1 February 2024					144,973		144,973

	At 31 January 2025					144,973		144,973


9	Other information

	Mid Wales Storage and Distribution Centre Limited is a private company limited by shares and incorporated in Wales. Its registered office is:
	Old School
	Doll Street
	Machynlleth
	Powys
	SY20 8BQ