Midland Carbides Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00848471 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Midland Carbides Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P Griffiths

M G Fryer

REGISTERED OFFICE:

Prince William House

10 Lower Church Street

Ashby-de-la-Zouch

Leicestershire

LE65 1AB

REGISTERED NUMBER:

00848471 (England and Wales)

ACCOUNTANTS:

The Profit Key Limited

Prince William House

10 Lower Church Street

Ashby de la Zouch

Leicestershire

LE65 1AB

BANKERS:

Starling Bank

FIXED ASSETS

Tangible assets

4

275,230

277,109

Investments

5

-

100

275,230

277,209

CURRENT ASSETS

Stocks

371,783

339,795

Debtors

6

582,083

822,589

Cash at bank and in hand

804,029

412,633

1,757,895

1,575,017

CREDITORS

Amounts falling due within one year

7

184,952

100,964

NET CURRENT ASSETS

1,572,943

1,474,053

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,848,173

1,751,262

PROVISIONS FOR LIABILITIES

14,252

13,107

NET ASSETS

1,833,921

1,738,155

CAPITAL AND RESERVES

Called up share capital

8

38,925

Capital redemption reserve

511,275

Retained earnings

1,283,721

1,187,955

SHAREHOLDERS' FUNDS

1,833,921

1,738,155

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2025 and were signed on its behalf by:

P Griffiths - Director

1.	STATUTORY INFORMATION

Midland Carbides Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

4% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

machinery

£

COST

At 1 April 2024

351,281

14,873

947,463

Additions

-

8,422

At 31 March 2025

351,281

14,873

955,885

DEPRECIATION

At 1 April 2024

152,665

6,952

881,133

Charge for year

7,026

595

18,686

At 31 March 2025

159,691

7,547

899,819

NET BOOK VALUE

At 31 March 2025

191,590

7,326

56,066

At 31 March 2024

198,616

7,921

66,330

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

55,242

46,150

10,086

1,425,095

Additions

-

22,758

-

31,180

At 31 March 2025

55,242

68,908

10,086

1,456,275

DEPRECIATION

At 1 April 2024

54,601

42,549

10,086

1,147,986

Charge for year

162

6,590

-

33,059

At 31 March 2025

54,763

49,139

10,086

1,181,045

NET BOOK VALUE

At 31 March 2025

479

19,769

-

275,230

At 31 March 2024

641

3,601

-

277,109

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

100

Disposals

(100

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

177,243

258,186

Other debtors

350,526

470,326

Directors' current accounts

28,309

53,541

Tax

17,401

32,138

Called up share capital not paid

200

Prepayments

8,404

8,198

582,083

822,589

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

61,826

5,811

Tax

61,507

41,076

Social security and other taxes

548

4,766

VAT

28,557

36,949

Other creditors

25,786

1,105

Accrued expenses

6,728

11,257

184,952

100,964

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

28,630

Ordinary

£1

28,630

10,120

Ordinary C

£1

10,120

38,750

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

175

Ordinary A & B

£1

175

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

P Griffiths

Balance outstanding at start of year

53,541

98,886

Amounts advanced

910

1,695

Amounts repaid

(26,142

)

(47,040

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

28,309

53,541