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Registered number: 13714758










MULTIPLANT HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED NOVEMBER 30, 2023

 
MULTIPLANT HOLDINGS LIMITED
REGISTERED NUMBER: 13714758

BALANCE SHEET
AS AT NOVEMBER 30, 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
685,809
686,955

  
685,809
686,955

Current assets
  

Debtors: amounts falling due within one year
  
50
-

Cash at bank and in hand
  
1,057
597

  
1,107
597

Creditors: amounts falling due within one year
  
(369,895)
(367,975)

Net current liabilities
  
 
 
(368,788)
 
 
(367,378)

Total assets less current liabilities
  
317,021
319,577

Creditors: amounts falling due after more than one year
  
(311,239)
(325,287)

  

Net assets/(liabilities)
  
5,782
(5,710)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
5,682
(5,810)

  
5,782
(5,710)


Page 1

 
MULTIPLANT HOLDINGS LIMITED
REGISTERED NUMBER: 13714758
    
BALANCE SHEET (CONTINUED)
AS AT NOVEMBER 30, 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Reynolds
Director

Date: August 14, 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MULTIPLANT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2023

1.


General information

The company is a private company incorporated in the United Kingdom and registered in England and Wales. The address of the registered office and principle place of business is 22b High Street, Witney, Oxfordshire, OX28 6RB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MULTIPLANT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
50 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
MULTIPLANT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
MULTIPLANT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 December 2022
688,101



At November 30, 2023

688,101



Depreciation


At 1 December 2022
1,146


Charge for the year on owned assets
1,146



At November 30, 2023

2,292



Net book value



At November 30, 2023
685,809



At November 30, 2022
686,955

Page 6

 
MULTIPLANT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2023

           4.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
685,809
686,955

685,809
686,955


The carrying amount of investment property, which the Company rents to another group entity when it has chosen to account for such properties using the cost model is £685,809 (2022 - £686,955)


5.


Debtors

2023
2022
£
£


Other debtors
50
-

50
-



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,057
597

1,057
597



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
14,124
14,124

Corporation tax
1,871
-

Other creditors
353,301
353,251

Accruals and deferred income
599
600

369,895
367,975


Page 7

 
MULTIPLANT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
311,239
325,287

311,239
325,287


The following liabilities were secured:

2023
2022
£
£



Bank loans
325,363
339,411

325,363
339,411

Details of security provided:

The bank loan is secured with a fixed charge over the property held by the company.

Page 8

 
MULTIPLANT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
14,124
14,124


14,124
14,124

Amounts falling due 1-2 years

Bank loans
15,063
15,143


15,063
15,143

Amounts falling due 2-5 years

Bank loans
71,232
71,232


71,232
71,232

Amounts falling due after more than 5 years

Bank loans
224,943
238,912

224,943
238,912

325,362
339,411



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,057
567




Financial assets measured at fair value through profit or loss comprise of cash and cash equivalents.


11.


Related party transactions

During the year the company received rental income of £38,500 (2022: £5,200) from Multiplant Limited, a company in which Matthew and Kate Reynolds are directors.

Page 9

 
MULTIPLANT HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2023

12.


Controlling party

Throughout the period and the prior period the company was controlled by the directors who own all of the shares

 
Page 10