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REGISTERED NUMBER: 10203857 (England and Wales)



































Unaudited Financial Statements

for the Year Ended 31 December 2023

for

MULTIWAL UK LIMITED

MULTIWAL UK LIMITED (REGISTERED NUMBER: 10203857)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MULTIWAL UK LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Hendrik Jan Klooster





REGISTERED OFFICE: Unit B
Rochdale Industrial Estate
Norman Road
ROCHDALE
Lancashire
OL11 4HS





REGISTERED NUMBER: 10203857 (England and Wales)





ACCOUNTANTS: G & C Professionals Limited
trading as Graham & Company
Chartered Certified Accountants
Cleveland House
1-10 Sitwell Street
KINGSTON UPON HULL
East Yorkshire
HU8 7BE

MULTIWAL UK LIMITED (REGISTERED NUMBER: 10203857)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,521 18,049

CURRENT ASSETS
Debtors 5 280,662 249,823
Cash at bank and in hand 2,794 30,952
283,456 280,775
CREDITORS
Amounts falling due within one year 6 1,112,684 1,042,979
NET CURRENT LIABILITIES (829,228 ) (762,204 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(816,707

)

(744,155

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (816,807 ) (744,255 )
SHAREHOLDERS' FUNDS (816,707 ) (744,155 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





Hendrik Jan Klooster - Director


MULTIWAL UK LIMITED (REGISTERED NUMBER: 10203857)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

MULTIWAL UK LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes the continued support of the parent company as described in the note for Creditors : Amounts falling due within one year.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office and computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MULTIWAL UK LIMITED (REGISTERED NUMBER: 10203857)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Office
Fixtures and
Plant and and Motor computer
equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 3,400 2,121 73,680 8,791 87,992
Disposals - - (15,995 ) - (15,995 )
At 31 December 2023 3,400 2,121 57,685 8,791 71,997
DEPRECIATION
At 1 January 2023 1,503 1,327 58,680 8,433 69,943
Charge for year 282 120 5,000 126 5,528
Eliminated on disposal - - (15,995 ) - (15,995 )
At 31 December 2023 1,785 1,447 47,685 8,559 59,476
NET BOOK VALUE
At 31 December 2023 1,615 674 10,000 232 12,521
At 31 December 2022 1,897 794 15,000 358 18,049

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 214,767 135,759
Other debtors 40,757 84,136
VAT 3,112 8,722
Prepayments 22,026 21,206
280,662 249,823

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,374 39,069
Amounts owed to group undertakings 977,390 961,804
Other creditors 76,767 37,121
Deferred sales 39,000 -
Accrued expenses 6,153 4,985
1,112,684 1,042,979

Amounts owed to group undertakings relates to Multiwal BV, the parent company. There are no specific terms with regard to interest charges or repayment of this loan. The parent company has indicated that the above funds will not be withdrawn until the company achieves a solvent financial position.

MULTIWAL UK LIMITED (REGISTERED NUMBER: 10203857)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 29,811 29,811

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2023 (744,255 )
Deficit for the year (72,552 )
At 31 December 2023 (816,807 )

10. RELATED PARTY DISCLOSURES

During the period under review the company traded with it's holding company, Multiwal BV. The
company purchased goods and services from this company, all of these transactions were at normal
commercial rates.

Goods and services totalled £344,498 (2022 - £781,600) and the amount outstanding at the balance sheet date (included in the "Amount owed to group undertakings") was £901,442 (2022 - £840,721).

11. ULTIMATE CONTROLLING PARTY

The controlling party is Multiwal BV.