Registered number
07440222
Midland Supply Limited
Unaudited Filleted Accounts
31 January 2025

Midland Supply Limited
Registered number: | 07440222
Balance Sheet
as at 31 January 2025
Notes |  |  | 2025 |  |  | 2024
£ | £
Fixed assets
Tangible assets | 3 |  |  | 17,980 |  |  | 22,350
Current assets
Stocks |  |  | 4,492 |  |  | 3,620
Debtors | 4 |  | 5,743 |  |  | 6,464
Cash at bank and in hand |  |  | 3,020 |  |  | -
|  |  | 13,255 |  |  | 10,084
Creditors: amounts falling due within one year | 5 |  | (16,691) |  |  | (25,698)
Net current liabilities |  |  |  | (3,436) |  |  | (15,614)
Net assets |  |  |  | 14,544 |  |  | 6,736
Capital and reserves
Called up share capital |  |  |  | 100 |  |  | 100
Profit and loss account |  |  |  | 14,444 |  |  | 6,636
Shareholders' funds |  |  |  | 14,544 |  |  | 6,736
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.
R F Parsons
Director
Approved by the board on 17 October 2025

Midland Supply 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
| 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:
| Computers | 33% straight line basis
| Fixtures, fittings, tools and equipment | 15% straight line basis
| Stocks
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
| Debtors
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
| Creditors
| Short term creditors are measured at transaction price (which is usually the invoice price).
| Taxation
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
2 | Employees | 2025 |  | 2024
Number | Number
| Average number of persons employed by the company | 2 |  | 2
3 | Tangible fixed assets
|  |  |  |  |  |  |  | Plant and machinery etc
£
| Cost
| At 1 February 2024 | 44,252
| Disposals | (200)
| At 31 January 2025 | 44,052
| Depreciation
| At 1 February 2024 | 21,902
| Charge for the year | 4,370
| On disposals | (200)
| At 31 January 2025 | 26,072
| Net book value
| At 31 January 2025 | 17,980
| At 31 January 2024 | 22,350
4 | Debtors | 2025 |  | 2024
£ | £
| Trade debtors | 5,743 |  | 6,464
5 | Creditors: amounts falling due within one year | 2025 |  | 2024
£ | £
| Bank loans and overdrafts | - |  | 1,975
| Trade creditors | 3,251 |  | 4,361
| Taxation and social security costs | 9,270 |  | 7,482
| Other creditors | 4,170 |  | 11,880
|  |  |  |  |  | 16,691 |  | 25,698
6 | Other information
| Midland Supply Limited is a private company limited by shares and incorporated in England. Its registered office is:
| 42 Russell Bank Road
| Four Oaks
| Sutton Coldfield
| B74 4RQ

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