Midas Investment Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05432897 (England and Wales)

Midas Investment Developments Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

6

DIRECTORS:

M Sterpini

Ms G Y J Owen

SECRETARY:

REGISTERED OFFICE:

313 Holbrook Lane

Holbrooks

Coventry

West Midlands

CV6 4DG

REGISTERED NUMBER:

05432897 (England and Wales)

ACCOUNTANTS:

T Cheung & Co

Chartered Accountants

Unit3a Wing Yip Centre

278 Thimble Mill Lane

Birmingham

B7 5HD

FIXED ASSETS

Intangible assets

2

82,999

Tangible assets

3

91

113

83,090

83,112

CURRENT ASSETS

Stocks

1,388

1,208

Debtors

5,993

5,497

Cash at bank and in hand

2,004

2,573

9,385

9,278

CREDITORS

Amounts falling due within one
year

96,567

94,713

NET CURRENT LIABILITIES

(87,182

)

(85,435

)

TOTAL ASSETS LESS
CURRENT LIABILITIES

(4,092

)

(2,323

)

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

(4,094

)

(2,325

)

SHAREHOLDERS' FUNDS

(4,092

)

(2,323

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 May 2017 and
were signed on its behalf by:

Ms G Y J Owen - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention

and in accordance with the Financial Reporting Standard for Smaller Entities

(effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but

not reversed at the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

82,999

NET BOOK VALUE

At 31 October 2016

82,999

At 31 October 2015

82,999

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

2,001

DEPRECIATION

At 1 November 2015

1,888

Charge for year

22

At 31 October 2016

1,910

NET BOOK VALUE

At 31 October 2016

91

At 31 October 2015

113

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

2

Ordinary

£1

2

The following reproduces the text of the report prepared for the directors in respect

of the company's annual unaudited financial statements, from which the unaudited

abbreviated accounts (set out on pages two to five) have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2016 set out on pages two to five and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

T Cheung & Co

Chartered Accountants

Unit3a Wing Yip Centre

278 Thimble Mill Lane

Birmingham

B7 5HD

Date: .............................................