Mident Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07001287 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2022

for

Mident Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P A Thompson

SECRETARY:

Mr P A Thompson

REGISTERED OFFICE:

Unit 406 Phoenix Park Industrial Estate,

Heywood

Lancashire

OL10 2JG

REGISTERED NUMBER:

07001287 (England and Wales)

ACCOUNTANTS:

N J Grindrod & Co Limited

First Floor

Sovereign House

Barehill Street

Littleborough

Lancashire

OL15 9BL

FIXED ASSETS

Tangible assets

4

96,695

118,675

CURRENT ASSETS

Stocks

76,212

68,352

Debtors

340,846

374,853

Cash at bank

38,055

129,733

455,113

572,938

CREDITORS

Amounts falling due within one year

240,210

162,646

NET CURRENT ASSETS

214,903

410,292

TOTAL ASSETS LESS CURRENT LIABILITIES

311,598

528,967

CREDITORS

Amounts falling due after more than one year

-

(250,000

)

PROVISIONS FOR LIABILITIES

(18,372

)

(22,548

)

NET ASSETS

293,226

256,419

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

292,226

255,419

SHAREHOLDERS' FUNDS

293,226

256,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 23 May 2023 and were signed by:

Mr P A Thompson - Director

1.	STATUTORY INFORMATION

Mident 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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 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 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 12 (2021 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2021

296,385

Additions

2,224

Disposals

(18,292

)

At 30 September 2022

280,317

DEPRECIATION

At 1 October 2021

177,710

Charge for year

17,950

Eliminated on disposal

(12,038

)

At 30 September 2022

183,622

NET BOOK VALUE

At 30 September 2022

96,695

At 30 September 2021

118,675

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P A Thompson.