Multiblend Chemicals Limited 01477897 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is blending of chemicals Digita Accounts Production Advanced 6.30.9574.0 true true 01477897 2022-04-01 2023-03-31 01477897 2023-03-31 01477897 bus:OrdinaryShareClass1 2023-03-31 01477897 core:RetainedEarningsAccumulatedLosses 2023-03-31 01477897 core:ShareCapital 2023-03-31 01477897 core:CurrentFinancialInstruments 2023-03-31 01477897 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01477897 core:FurnitureFittingsToolsEquipment 2023-03-31 01477897 core:OtherPropertyPlantEquipment 2023-03-31 01477897 bus:SmallEntities 2022-04-01 2023-03-31 01477897 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 01477897 bus:FilletedAccounts 2022-04-01 2023-03-31 01477897 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01477897 bus:RegisteredOffice 2022-04-01 2023-03-31 01477897 bus:Director4 2022-04-01 2023-03-31 01477897 bus:Director5 2022-04-01 2023-03-31 01477897 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01477897 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01477897 core:ComputerEquipment 2022-04-01 2023-03-31 01477897 core:FurnitureFittings 2022-04-01 2023-03-31 01477897 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 01477897 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 01477897 core:PlantMachinery 2022-04-01 2023-03-31 01477897 countries:AllCountries 2022-04-01 2023-03-31 01477897 2022-03-31 01477897 core:FurnitureFittingsToolsEquipment 2022-03-31 01477897 core:OtherPropertyPlantEquipment 2022-03-31 01477897 2021-04-01 2022-03-31 01477897 2022-03-31 01477897 bus:OrdinaryShareClass1 2022-03-31 01477897 core:RetainedEarningsAccumulatedLosses 2022-03-31 01477897 core:ShareCapital 2022-03-31 01477897 core:CurrentFinancialInstruments 2022-03-31 01477897 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 01477897 core:FurnitureFittingsToolsEquipment 2022-03-31 01477897 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01477897

Multiblend Chemicals Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Multiblend Chemicals Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Multiblend Chemicals Limited

Company Information

Directors

Mrs Margaret Mary Butler

Ms Caroline Butler

Registered office

495 Oldham Road
Miles Platting
Manchester
M40 5AA

Accountants

Bright Partnership Limited
Chartered Accountants & Business Advisors
Unit 26 Edward Court
Broadheath
Altrincham
WA14 5GL

 

Multiblend Chemicals Limited

(Registration number: 01477897)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

47,570

Current assets

 

Debtors

5

62,851

124,198

Cash at bank and in hand

 

494,980

125,227

 

557,831

249,425

Creditors: Amounts falling due within one year

6

(108,572)

(137,525)

Net current assets

 

449,259

111,900

Total assets less current liabilities

 

449,259

159,470

Provisions for liabilities

(9,038)

(9,038)

Net assets

 

440,221

150,432

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

440,121

150,332

Shareholders' funds

 

440,221

150,432

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................
Mrs Margaret Mary Butler
Director

 

Multiblend Chemicals 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 the United Kingdom..

The address of its registered office is:
495 Oldham Road
Miles Platting
Manchester
M40 5AA

These financial statements were authorised for issue by the Board on 17 April 2024.

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.

These financial statements are presented in sterling, which is the functional currency of the entity.

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 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.

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.

 

Multiblend Chemicals Limited

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

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 balance sheet 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

Plant and machinery

20% reducing balance

Furniture and fittings

25% reducing balance

Computer equipment

33% straight line 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.

 

Multiblend Chemicals 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

 

Multiblend Chemicals Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

68,313

226,372

294,685

Disposals

(68,313)

(226,372)

(294,685)

At 31 March 2023

-

-

-

Depreciation

At 1 April 2022

64,119

182,996

247,115

Eliminated on disposal

(64,119)

(182,996)

(247,115)

At 31 March 2023

-

-

-

Carrying amount

At 31 March 2023

-

-

-

At 31 March 2022

4,194

43,376

47,570

5

Debtors

Current

2023
£

2022
£

Trade debtors

60,600

76,854

Other debtors

2,251

47,344

 

62,851

124,198

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

16,445

129,179

Taxation and social security

84,760

3,818

Accruals and deferred income

2,530

2,200

Other creditors

4,837

2,328

108,572

137,525

 

Multiblend Chemicals Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100