Midland Timber Limited - Filleted accounts

Registered number

02696150

Midland Timber Limited

Filleted Accounts

31 March 2026

Midland Timber Limited
Registered number:		02696150
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		30,774			35,824

Current assets
Stocks		139,072			125,125
Debtors	4	79,688			41,065
Cash at bank and in hand		54,512			103,510
		273,272			269,700

Creditors: amounts falling due within one year	5	(45,902)			(44,533)

Net current assets			227,370			225,167

Total assets less current liabilities			258,144			260,991


Provisions for liabilities			(5,847)			(6,806)


Net assets			252,297			254,185

Capital and reserves
Called up share capital			200			200
Profit and loss account			252,097			253,985

Shareholder's funds			252,297			254,185

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.




S J Wain
Director
Approved by the board on 18 June 2026

Midland Timber Limited
Notes to the Accounts
for the year ended 31 March 2026


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:

	Improvements to Property	2% straight line method
	Plant and machinery	15% straight line method
	Fixtures, fittings, tools and equipment	15% straight line method

	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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			6		6


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 April 2025	29,373		106,220		135,593
	Additions	-		1,135		1,135
	At 31 March 2026	29,373		107,355		136,728

	Depreciation
	At 1 April 2025	10,821		88,948		99,769
	Charge for the year	587		5,598		6,185
	At 31 March 2026	11,408		94,546		105,954

	Net book value
	At 31 March 2026	17,965		12,809		30,774
	At 31 March 2025	18,552		17,272		35,824


4	Debtors			2026		2025
£					£

	Trade debtors			40,549		32,989
	Other debtors			39,139		8,076
				79,688		41,065


5	Creditors: amounts falling due within one year			2026		2025
£					£

	Trade creditors			21,643		19,785
	Taxation and social security costs			19,491		20,707
	Other creditors			4,768		4,041
				45,902		44,533


6	Controlling party

	The company is controlled by the company director by virtue of his shareholding.


7	Other information

	Midland Timber Limited is a private company limited by shares and incorporated in England. Its registered office is:
	147 Uxbridge Street
	Burton upon Trent
	Staffordshire
	DE14 3JY