Company Registration No. 04173492 (England and Wales)
Midland Binding Services Ltd
Unaudited accounts
for the year ended 30 April 2019
Midland Binding Services Ltd
Unaudited accounts
Contents
Midland Binding Services Ltd
Company Information
for the year ended 30 April 2019
Director
Mr Rashid Mangia
Company Number
04173492 (England and Wales)
Registered Office
80 Upper Charnwood Street
Leicester
LE2 0BE
Accountants
Ghumra & Co Limited
45 Broadway Road
Leicester
LE5 5TB
Midland Binding Services Ltd
Statement of financial position
as at
30 April 2019
Tangible assets
25,605
30,427
Cash at bank and in hand
17,515
11,364
Creditors: amounts falling due within one year
(71,309)
(64,924)
Net current assets/(liabilities)
3,982
(8,770)
Total assets less current liabilities
29,587
21,657
Provisions for liabilities
Deferred tax
(1,807)
(1,608)
Called up share capital
20
20
Profit and loss account
27,760
20,029
Shareholders' funds
27,780
20,049
For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 January 2020.
Mr Rashid Mangia
Director
Company Registration No. 04173492
Midland Binding Services Ltd
Notes to the Accounts
for the year ended 30 April 2019
Midland Binding Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 04173492. The registered office is 80 Upper Charnwood Street, Leicester, LE2 0BE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Midland Binding Services Ltd
Notes to the Accounts
for the year ended 30 April 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2018
25,271
3,969
9,550
38,790
At 30 April 2019
25,271
4,284
9,550
39,105
At 1 May 2018
2,529
1,722
4,112
8,363
Charge for the year
2,527
797
1,813
5,137
At 30 April 2019
5,056
2,519
5,925
13,500
At 30 April 2019
20,215
1,765
3,625
25,605
At 30 April 2018
22,742
2,247
5,438
30,427
Trade debtors
54,761
38,284
Other debtors
3,015
6,106
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Creditors: amounts falling due within one year
2019
2018
Trade creditors
19,385
8,247
Taxes and social security
20,481
18,196
Other creditors
31,443
38,481
8
Share capital
2019
2018
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20
20
9
Average number of employees
During the year the average number of employees was 19 (2018: 15).