Midland Industrial Contractors Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07193146 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

MIDLAND INDUSTRIAL CONTRACTORS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Bryan

D Bryan

REGISTERED OFFICE:

Unit 3 Lifford Way

Binley Industrial Estate

Coventry

Warwickshire

CV3 2RN

REGISTERED NUMBER:

07193146 (England and Wales)

ACCOUNTANTS:

TGFP

Chartered Accountants

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

FIXED ASSETS

Tangible assets

4

198,707

213,104

CURRENT ASSETS

Stocks

850

Debtors

5

28,856

58,468

Cash at bank

6,236

26,137

35,942

85,455

CREDITORS

Amounts falling due within one year

6

69,430

77,896

NET CURRENT (LIABILITIES)/ASSETS

(33,488

)

7,559

TOTAL ASSETS LESS CURRENT
LIABILITIES

165,219

220,663

CREDITORS

Amounts falling due after more than one
year

7

(56,702

)

(75,506

)

PROVISIONS FOR LIABILITIES

(10,553

)

(12,954

)

NET ASSETS

97,964

132,203

CAPITAL AND RESERVES

Called up and paid share capital

100

Retained earnings

97,864

132,103

97,964

132,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2026 and were signed on its behalf by:

K Bryan - Director

1.	STATUTORY INFORMATION

Midland Industrial Contractors Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on 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.

Financial instruments

Basic financial assets, which include debtors 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the director for a period of at least 12 months from the date of these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

COST

At 1 April 2025

148,528

59,232

98,920

5,073

311,753

Additions

-

2,095

At 31 March 2026

148,528

59,232

98,920

7,168

313,848

DEPRECIATION

At 1 April 2025

-

48,277

45,562

4,810

98,649

Charge for year

-

2,191

13,340

961

16,492

At 31 March 2026

-

50,468

58,902

5,771

115,141

NET BOOK VALUE

At 31 March 2026

148,528

8,764

40,018

1,397

198,707

At 31 March 2025

148,528

10,955

53,358

263

213,104

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

22,451

48,016

Directors' current accounts

-

3,609

Prepayments and accrued income

6,405

6,843

28,856

58,468

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

2,500

10,000

Other loans

6,342

5,695

Hire purchase contracts

9,317

13,067

Trade creditors

697

11,436

Tax

11,967

9,798

Social security and other taxes

942

1,287

CIS liability

209

1,019

VAT

13,198

20,746

Other creditors

7,115

3,345

Pension liability

-

68

Directors' current accounts

10,653

-

Accruals and deferred income

6,490

1,435

69,430

77,896

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2026

2025

£

Bank loans - 1-2 years

-

2,500

Other loans - 1-2 years

6,342

5,695

Other loans - 2-5 years

19,026

17,085

Other loans more 5yrs instal

23,832

33,408

Hire purchase contracts

7,502

16,818

56,702

75,506

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

23,832

33,408

8.	SECURED DEBTS

Barclays Security Trustee Limited have a fixed charge over the assets of the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £Nil (2025 - £3,609) and repayments during the year were £3,609 (2025 - £Nil). At the year end the amount owing to the company was £Nil (2025 - £3,609).