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Registration number: 10853283

Multidash Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Multidash Ltd.

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Multidash Ltd.

(Registration number: 10853283)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

3

3

Other financial assets

5

87,723

87,723

 

87,726

87,726

Current assets

 

Debtors

6

929,911

911,701

Cash at bank and in hand

 

1,860,462

1,299,373

 

2,790,373

2,211,074

Creditors: Amounts falling due within one year

7

(6,766)

(3,743)

Net current assets

 

2,783,607

2,207,331

Net assets

 

2,871,333

2,295,057

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

2,871,331

2,295,055

Shareholders' funds

 

2,871,333

2,295,057

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 Profit and Loss Account.

Approved and authorised by the director on 3 November 2023
 

.........................................
Mr RC Dash
Director

 

Multidash Ltd.

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:
16 Dorcan Business Village
Murdock Road, Dorcan
Swindon
Wiltshire
SN3 5HY

The principal place of business is:
Unit 10 Athena Avenue
Les Smith Building
Elgin Industrial Estate
Swindon
Wiltshire
SN2 8EJ

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the management services provided to its subsiidiaries.

Tax

The tax expense for the period comprises current tax payable.

The current 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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Multidash Ltd.

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

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.

Debtors

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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 1 (2022 - 1).

 

Multidash Ltd.

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

4

Investments

2023
£

2022
£

Investments in subsidiaries

3

3

Subsidiaries

£

Cost or valuation

At 1 April 2022

3

Provision

Carrying amount

At 31 March 2023

3

At 31 March 2022

3

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Go Tel Communications Limited

16 Dorcan Business Village, Murdock Road, Swindon, Wiltshire. SN3 5HY

England

Ordinary Shares of 1p

100%

100%

RedRobin Enterprises Ltd

16 Dorcan Business Village, Murdock Road, Swindon, Wiltshire. SN3 5HY

England

Ordinary 1p

100%

100%

Subsidiary undertakings

Go Tel Communications Limited

The principal activity of Go Tel Communications Limited is as agent and consultant for communication products.

RedRobin Enterprises Ltd

The principal activity of RedRobin Enterprises Ltd is currently as a dormant company.

 

Multidash Ltd.

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

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2022

87,723

87,723

At 31 March 2023

87,723

87,723

Impairment

Carrying amount

At 31 March 2023

87,723

87,723

The company made an investment acquiring shares in Hillmead Technology Limited, an unlisted company, parent of a group involved in the production of and research and development of electronic products.

 

Multidash Ltd.

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

6

Debtors

Note

2023
£

2022
£

Current

 

Amounts owed by related parties

8

927,190

911,701

Other debtors

 

2,721

-

 

929,911

911,701

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

5,116

2,167

Other creditors

1,650

1,576

6,766

3,743

 

Multidash Ltd.

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

8

Related party transactions

Summary of transactions with subsidiaries

Go Tel Communications Limited - Trading Company
Management fee received £1,820 [2022 £1,200]
Amount due from/(to) subsidiary £2,271 [2022 £451]

Red Robin Enterprises Ltd - Dormant Company
There are no transactions.

4Dash Ltd - A Trading Company which is under common control with Multidash Ltd
Loan made to 4Dash Ltd of £900,000
Interest charged to 4Dash Ltd of £13,668 [2022 (£11,250)]
Amount due to Multidash Ltd at the year end is £924,918 [2022 (£911,250)]

 

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £0.01 each

180

2

180

2

Ordinary B shares of £0.01 each

9

-

9

-

Ordinary C shares of £0.01 each

9

-

9

-

Ordinary D shares of £0.01 each

1

-

1

-

Ordinary E shares of £0.01 each

1

-

1

-

 

200

2

200

2