REGISTERED NUMBER: 04660846 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Midland Oil Company Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S A Thompson

J M Thompson

REGISTERED OFFICE:

Unit 9

Saffron Way

Leicester

LE2 6UP

REGISTERED NUMBER:

04660846 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

47,197

34,019

CURRENT ASSETS

Stocks

89,393

82,881

Debtors

5

396,212

371,698

Cash at bank and in hand

15,509

5,968

501,114

460,547

CREDITORS

Amounts falling due within one year

6

(376,258

)

(294,710

)

NET CURRENT ASSETS

124,856

165,837

TOTAL ASSETS LESS CURRENT LIABILITIES

172,053

199,856

CREDITORS

Amounts falling due after more than one year

7

(40,000

)

(70,932

)

PROVISIONS FOR LIABILITIES

(8,504

)

(8,504

)

NET ASSETS

123,549

120,420

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

123,539

120,410

SHAREHOLDERS' FUNDS

123,549

120,420

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 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 10 October 2025 and were signed on its behalf by:

S A Thompson - Director

J M Thompson - Director

1.	STATUTORY INFORMATION

Midland Oil Company 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.

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 cost

Fixtures and fittings

-

25% on cost

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 estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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.

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 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

10,865

4,083

27,195

13,298

55,441

Additions

483

-

25,583

4,495

30,561

At 31 March 2025

11,348

4,083

52,778

17,793

86,002

DEPRECIATION

At 1 April 2024

8,919

2,830

-

9,673

21,422

Charge for year

1,818

724

10,556

4,285

17,383

At 31 March 2025

10,737

3,554

10,556

13,958

38,805

NET BOOK VALUE

At 31 March 2025

611

529

42,222

3,835

47,197

At 31 March 2024

1,946

1,253

27,195

3,625

34,019

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

186,125

200,114

Amounts owed by group undertakings

200,443

160,156

Other debtors

9,644

11,428

396,212

371,698

Other debtors includes prepayments and accrued income of £9,644 (2024: £8,728).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

25,000

25,000

Hire purchase contracts

8,720

4,068

Trade creditors

149,505

142,950

Taxation and social security

34,250

11,770

Other creditors

158,783

110,922

376,258

294,710

Other creditors includes accruals and deferred income of £1,785 (2024: £1,700).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

25,000

50,000

Hire purchase contracts

15,000

20,932

40,000

70,932

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

50,000

75,000

Hire purchase contracts

23,720

25,000

73,720

100,000

The bank loan liabilities are secured against the trade debtors.

The hire purchase liabilities are secured on the assets being so acquired.

9.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £68,231 (2024: £87,500).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.25

31.3.24

£

£

S A Thompson

Balance outstanding at start of year

-

-

Amounts advanced

-

21,678

Amounts repaid

-

(21,678

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

J M Thompson

Balance outstanding at start of year

-

-

Amounts advanced

-

2,868

Amounts repaid

-

(2,868

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

11.	ULTIMATE CONTROLLING PARTY

The company regards Midoil Holdings Ltd, incorporated in England, as its ultimate parent company and controlling party.