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Unaudited Financial Statements |
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For The Year Ended 31 December 2018 |
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Midland (Single Ply) Holdings Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 31 December 2018 |
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for |
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Midland (Single Ply) Holdings Limited |
Midland (Single Ply) Holdings Limited (Registered number: 06538384) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2018 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Midland (Single Ply) Holdings Limited |
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Company Information |
For The Year Ended 31 December 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
Midland (Single Ply) Holdings Limited (Registered number: 06538384) |
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Abridged Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Midland (Single Ply) Holdings Limited (Registered number: 06538384) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Midland (Single Ply) Holdings Limited is a
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and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The Company and Group have taken advantage of the exemptions conferred by Section 398 of the |
Companies Act 2006 and not prepared Group accounts on the basis that the Group qualifies as a |
small group. The financial statements therefore present information concerning the Company only and |
not the Group. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Midland (Single Ply) Holdings Limited (Registered number: 06538384) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' |
and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial |
instruments. |
Financial instruments are recognised in the company's balance sheet when the company |
becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial |
statements, when there is a legally enforceable right to set off the recognised amounts and |
there is an intention to settle on a net basis or to realise the asset and settle the liability |
simultaneously. |
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Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are |
initially measured at transaction price including transaction costs and are subsequently carried |
at amortised cost using the effective interest method unless the arrangement constitutes a |
financing transaction, where the transaction is measured at the present value of the future |
receipts discounted at a market rate of interest. |
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Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for |
indicators of impairment at each reporting end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or |
more events that occurred after the initial recognition of the financial asset, the estimated |
future cash flows have been affected. The impairment loss is recognised in profit or loss. |
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Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the |
asset expire, or when it transfers the financial asset and substantially all the risks and rewards |
of ownership to another entity. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the |
contractual arrangements entered into. An equity instrument is any contract that evidences a |
residual interest in the assets of the company after deducting all of its liabilities. |
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Basic financial liabilities |
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Basic financial liabilities, including trade and other creditors, are recognised at transaction price. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate |
method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the |
ordinary course of business from suppliers. Trade creditors are classified as current liabilities if |
payment is due within one year. If not, they are presented as creditors falling due after more than |
one year. Trade creditors are recognised at transaction price. |
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Derecognition of financial liabilities |
Financial liabilities are derecognised when, and only when, the company's obligations are |
discharged, cancelled, or they expire. |
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Midland (Single Ply) Holdings Limited (Registered number: 06538384) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Investments |
Fixed assets are stated in the balance sheet at cost, less provision for any permanent diminution in |
value. |
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3. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 | 438,500 |
NET BOOK VALUE |
At 31 December 2018 | 438,500 |
At 31 December 2017 | 438,500 |