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Registered number: 06734155
MulTplx Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Chrissie Accountancy Services
Certified Public Accountants Association
16 Morley Road
Sutton
Surrey
SM3 9LN
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mr J C Theobald
Mr A C Theobald
Company Number 06734155
Registered Office 250a Kennington Lane
London
SE11 5RD
Business 250a Kennington Lane
London
SE11 5RD
Accountants Chrissie Accountancy Services
Certified Public Accountants Association
16 Morley Road
Sutton
Surrey
SM3 9LN
Bankers HSBC
90 Eden Street
Kingston Upon Thames
Surrey
KT1 1DJ
Page 1
Page 2
Balance Sheet
Registered number: 06734155
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,327 2,651
Tangible Assets 5 17,904 20,323
19,231 22,974
CURRENT ASSETS
Stocks 6 48,015 15,064
Debtors 7 48,183 12,274
Cash at bank and in hand 3,213 22,039
99,411 49,377
Creditors: Amounts Falling Due Within One Year 8 (31,812 ) (14,558 )
NET CURRENT ASSETS (LIABILITIES) 67,599 34,819
TOTAL ASSETS LESS CURRENT LIABILITIES 86,830 57,793
Creditors: Amounts Falling Due After More Than One Year 9 (39,022 ) (42,486 )
NET ASSETS 47,808 15,307
CAPITAL AND RESERVES
Called up share capital 10 6,438 6,438
Share premium account 2,097,593 2,097,593
Profit and Loss Account (2,056,223 ) (2,088,724 )
SHAREHOLDERS' FUNDS 47,808 15,307
Page 2
Page 3
For the year ending 31 December 2023 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J C Theobald
Director
23 July 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
MulTplx Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06734155 . The registered office is 250a Kennington Lane, London, SE11 5RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairement losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which range from 1 to 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 January 2023 34,947 358,844 393,791
As at 31 December 2023 34,947 358,844 393,791
Amortisation
As at 1 January 2023 34,947 356,193 391,140
Provided during the period - 1,324 1,324
As at 31 December 2023 34,947 357,517 392,464
Net Book Value
As at 31 December 2023 - 1,327 1,327
As at 1 January 2023 - 2,651 2,651
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 40,846 17,120 57,966
Additions 2,799 750 3,549
As at 31 December 2023 43,645 17,870 61,515
Depreciation
As at 1 January 2023 28,236 9,407 37,643
Provided during the period 3,852 2,116 5,968
As at 31 December 2023 32,088 11,523 43,611
Net Book Value
As at 31 December 2023 11,557 6,347 17,904
As at 1 January 2023 12,610 7,713 20,323
6. Stocks
2023 2022
£ £
Finished goods 48,015 15,064
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 44,425 10,888
Other debtors 3,758 1,386
48,183 12,274
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 18,420 6,868
Bank loans and overdrafts 3,360 3,517
Other creditors 546 208
Taxation and social security 9,486 3,965
31,812 14,558
Page 6
Page 7
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 21,388 24,852
Other loans 17,634 17,634
39,022 42,486
10. Share Capital
2023 2022
£ £
Called Up Share Capital not Paid 510 510
Called Up Share Capital has been paid up 5,928 5,928
Amount of Allotted, Called Up Share Capital 6,438 6,438
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