Midlands Construction Products Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09636621 (England and Wales)

Financial Statements for the Year Ended 30 June 2023

for

Midlands Construction Products Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms M Bickerton

R Burr

REGISTERED OFFICE:

Unit 2,

Tetron Point

19 William Nadin Way

Swadlincote,

Derbyshire

DE11 0BB

REGISTERED NUMBER:

09636621 (England and Wales)

AUDITORS:

Granite Morgan Smith Limited

Chartered Certified Accountants and

Statutory Auditors

122 Feering Hill

Feering

Colchester

Essex

CO5 9PY

FIXED ASSETS

Tangible assets

4

153,359

185,151

CURRENT ASSETS

Stocks

327,347

394,000

Debtors

5

2,428,074

2,012,481

Cash at bank and in hand

454,930

375,869

3,210,351

2,782,350

CREDITORS

Amounts falling due within one year

6

971,172

1,152,839

NET CURRENT ASSETS

2,239,179

1,629,511

TOTAL ASSETS LESS CURRENT LIABILITIES

2,392,538

1,814,662

PROVISIONS FOR LIABILITIES

29,139

32,314

NET ASSETS

2,363,399

1,782,348

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,363,397

1,782,346

SHAREHOLDERS' FUNDS

2,363,399

1,782,348

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 25 October 2023 and were signed on its behalf by:

Ms M Bickerton - Director

1.	STATUTORY INFORMATION

Midlands Construction Products 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 etc

-

20% on cost, 10% on cost and Straight line over 3 years

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 29 (2022 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2022

286,532

Additions

6,879

At 30 June 2023

293,411

DEPRECIATION

At 1 July 2022

101,381

Charge for year

38,671

At 30 June 2023

140,052

NET BOOK VALUE

At 30 June 2023

153,359

At 30 June 2022

185,151

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

840,107

1,032,972

Amounts owed by group undertakings

1,576,536

968,000

Other debtors

11,431

11,509

2,428,074

2,012,481

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade creditors

500,010

637,593

Taxation and social security

137,201

197,358

Other creditors

333,961

317,888

971,172

1,152,839

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Vincent Mark Mellett FCCA (Senior Statutory Auditor)

for and on behalf of Granite Morgan Smith Limited

8.	POST BALANCE SHEET EVENTS

No events have occurred since the date of the balance sheet that need to be brought to the attention of the shareholders or third parties.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors for the current and previous year.