Multipave Limited 10053221 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of the construction of roads and motorways. Digita Accounts Production Advanced 6.30.9574.0 true true 10053221 2022-04-01 2023-03-31 10053221 2023-03-31 10053221 bus:Director2 1 2023-03-31 10053221 bus:OrdinaryShareClass1 2023-03-31 10053221 core:CurrentFinancialInstruments 2023-03-31 10053221 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10053221 core:FurnitureFittingsToolsEquipment 2023-03-31 10053221 core:LandBuildings 2023-03-31 10053221 core:MotorVehicles 2023-03-31 10053221 bus:SmallEntities 2022-04-01 2023-03-31 10053221 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10053221 bus:FullAccounts 2022-04-01 2023-03-31 10053221 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10053221 bus:RegisteredOffice 2022-04-01 2023-03-31 10053221 bus:CompanySecretary1 2022-04-01 2023-03-31 10053221 bus:Director2 2022-04-01 2023-03-31 10053221 bus:Director2 1 2022-04-01 2023-03-31 10053221 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10053221 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10053221 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 10053221 core:LandBuildings 2022-04-01 2023-03-31 10053221 core:MotorVehicles 2022-04-01 2023-03-31 10053221 countries:EnglandWales 2022-04-01 2023-03-31 10053221 2022-03-31 10053221 bus:Director2 1 2022-03-31 10053221 core:FurnitureFittingsToolsEquipment 2022-03-31 10053221 core:LandBuildings 2022-03-31 10053221 core:MotorVehicles 2022-03-31 10053221 2021-04-01 2022-03-31 10053221 2022-03-31 10053221 bus:Director2 1 2022-03-31 10053221 bus:OrdinaryShareClass1 2022-03-31 10053221 core:CurrentFinancialInstruments 2022-03-31 10053221 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 10053221 core:FurnitureFittingsToolsEquipment 2022-03-31 10053221 core:LandBuildings 2022-03-31 10053221 core:MotorVehicles 2022-03-31 10053221 bus:Director2 1 2021-04-01 2022-03-31 10053221 bus:Director2 1 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10053221

Multipave Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Multipave Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 7

 

Multipave Limited

Company Information

Director

Mr S P Earwicker

Company secretary

Mrs R P Earwicker

Registered office

38 Portsview Avenue
Fareham
Hampshire
PO16 8LW

Accountants

D V Marlow & Co Limited
Chartered Accountants
72 West Street
Portchester
Fareham
Hampshire
PO16 9UN

 

Multipave Limited

(Registration number: 10053221)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

180,723

169,021

Current assets

 

Debtors

5

143,955

88,413

Cash at bank and in hand

 

375,251

263,251

 

519,206

351,664

Creditors: Amounts falling due within one year

6

(58,135)

(64,353)

Net current assets

 

461,071

287,311

Total assets less current liabilities

 

641,794

456,332

Provisions for liabilities

(24,804)

-

Net assets

 

616,990

456,332

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

616,890

456,232

Shareholders' funds

 

616,990

456,332

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 4 October 2023
 

.........................................
Mr S P Earwicker
Director

 

Multipave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
38 Portsview Avenue
Fareham
Hampshire
PO16 8LW

The principal place of business is:
38 Portsvew Avenue
Portchester
Fareham
Hampshire
PO16 8LW

These financial statements were authorised for issue by the director on 4 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Multipave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line method

Furniture, fittings and equipment

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Multipave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Multipave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

6,405

93,207

211,001

310,613

Additions

-

4,433

88,885

93,318

Disposals

-

(6,525)

(18,652)

(25,177)

At 31 March 2023

6,405

91,115

281,234

378,754

Depreciation

At 1 April 2022

-

57,465

84,127

141,592

Charge for the year

-

9,432

70,306

79,738

Eliminated on disposal

-

(4,650)

(18,649)

(23,299)

At 31 March 2023

-

62,247

135,784

198,031

Carrying amount

At 31 March 2023

6,405

28,868

145,450

180,723

At 31 March 2022

6,405

35,742

126,874

169,021

Included within the net book value of land and buildings above is £6,405 (2022 - £6,405) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

134,840

79,096

Other debtors

9,115

9,317

 

143,955

88,413

 

Multipave Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

340

Taxation and social security

52,690

58,834

Accruals and deferred income

2,250

2,500

Other creditors

3,195

2,679

58,135

64,353

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr S P Earwicker

(2,779)

441

(857)

(3,195)

         
       

 

2022

At 1 April 2021
£

Repayments by director
£

At 31 March 2022
£

Mr S P Earwicker

(1,521)

(1,258)

(2,779)

       
     

 

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,060

8,820