Company registration number 02676102 (England and Wales)
MIDI SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
MIDI SERVICES LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
MIDI SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Investment properties
5
250,000
250,000
Current assets
Trade and other receivables
6
63
60
Cash and cash equivalents
43,899
50,550
43,962
50,610
Current liabilities
7
(12,282)
(19,243)
Net current assets
31,680
31,367
Total assets less current liabilities
281,680
281,367
Provisions for liabilities
(10,903)
(10,903)
Net assets
270,777
270,464
Equity
Called up share capital
8
200
200
Fair value reserve
9
99,166
99,166
Distributable retained earnings
171,411
171,098
Total equity
270,777
270,464

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 10 October 2025 and are signed on its behalf by:
Mrs S J M Coltman
Mr N Coltman
Director
Director
Company Registration No. 02676102
MIDI SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
1
Accounting policies
Company information

MiDi Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chantry House, 22 Upperton Road, Eastbourne, East Sussex, BN21 1BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Revenue

Fees and rent received are recognised to the profit and loss account on an accruals basis. Royalty commissions are recognised on a net basis with the commission being included in the profit and loss account in the period when the royalties are paid over.

1.3
Computer equipment

Computer equipment is initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
straight line over three years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MIDI SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies (Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

MIDI SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
3
Employees
2025
2024
Number
Number
Total
0
0
4
Computer equipment
Computer equipment
£
Cost
At 1 July 2024 and 30 June 2025
8,545
Depreciation and impairment
At 1 July 2024 and 30 June 2025
8,545
Carrying amount
At 30 June 2025
-
0
At 30 June 2024
-
0
5
Investment property
2025
£
Fair value
At 1 July 2024 and 30 June 2025
250,000

Investment property comprises 8 Timbers Court, Hailsham. The fair value of the property has been assessed by the company's directors and is based on the recent sale values of similar properties in the area.

6
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Other receivables
63
60
7
Current liabilities
2025
2024
£
£
Trade payables
5,502
13,071
Other payables
6,780
6,172
12,282
19,243
MIDI SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 5 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200
9
Fair value reserve
2025
2024
£
£
At the beginning and end of the year
99,166
99,166

In accordance with FRS102, the investment property is shown in these accounts at fair value. All increases or decreases in value are taken to the profit and loss account, and are disclosed in the fair value reserve in order to distinguish them as non-distributable.

MIDI SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
10
Transactions with the Directors

Property Management

The company is manager of the property 6 Timbers Court, owned by the company directors. Rents received are payable to the directors less a 5% management fee, expenses and insurance.

The sum of £5,502 (2024: £13,071) in net rents was owed to the directors at 30 June 2025.

Charitable Donations

Charitable donations of £2,400 (20 2 4: £2,400) were made to Hailsham Frontiers Charitable Trust during the year. Mrs S Coltman is a trustee of Hailsham Frontiers Charitable Trust.

Directors Loan Accounts

The sum of £5,340 (20 2 4: £4,732) was owed to the directors at 30 June 20 2 5.

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