1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 30,548 42,019 72,567 72,567 30,548 xbrli:pure xbrli:shares iso4217:GBP 04644581 2023-04-01 2024-03-31 04644581 2024-03-31 04644581 2023-03-31 04644581 2022-04-01 2023-03-31 04644581 2023-03-31 04644581 2022-03-31 04644581 core:MotorVehicles 2023-04-01 2024-03-31 04644581 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04644581 bus:Director1 2023-04-01 2024-03-31 04644581 core:MotorVehicles 2023-03-31 04644581 core:MotorVehicles 2024-03-31 04644581 core:WithinOneYear 2024-03-31 04644581 core:WithinOneYear 2023-03-31 04644581 core:ShareCapital 2024-03-31 04644581 core:ShareCapital 2023-03-31 04644581 core:RevaluationReserve 2024-03-31 04644581 core:RetainedEarningsAccumulatedLosses 2024-03-31 04644581 core:RetainedEarningsAccumulatedLosses 2023-03-31 04644581 core:MotorVehicles 2023-03-31 04644581 bus:SmallEntities 2023-04-01 2024-03-31 04644581 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04644581 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04644581 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04644581 bus:FullAccounts 2023-04-01 2024-03-31 04644581 bus:OrdinaryShareClass1 2024-03-31 04644581 bus:OrdinaryShareClass1 2023-03-31 04644581 core:OfficeEquipment 2023-04-01 2024-03-31 04644581 core:IntangibleAssetsOtherThanGoodwill 2023-03-31 04644581 core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 04644581 core:IntangibleAssetsOtherThanGoodwill 2024-03-31 04644581 core:OfficeEquipment 2023-03-31 04644581 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 04644581
MULTIDMEDIA LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
MULTIDMEDIA LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
72,567
30,548
Tangible assets
6
27,360
32,243
--------
--------
99,927
62,791
CURRENT ASSETS
Cash at bank and in hand
408,225
378,764
CREDITORS: amounts falling due within one year
7
48,704
28,395
---------
---------
NET CURRENT ASSETS
359,521
350,369
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
459,448
413,160
PROVISIONS
Taxation including deferred tax
13,525
6,126
---------
---------
NET ASSETS
445,923
407,034
---------
---------
CAPITAL AND RESERVES
Called up share capital
8
1
1
Revaluation reserve
17,406
Profit and loss account
428,516
407,033
---------
---------
SHAREHOLDERS FUNDS
445,923
407,034
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MULTIDMEDIA LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
Mr J Sohal
Director
Company registration number: 04644581
MULTIDMEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 March 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Muras Baker Jones Ltd, Third Floor Regent House, Bath Avenue, Wolverhampton, WV1 4EG.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Revenue recognition
Software development sales represent the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are valued using the revaluation model and are recorded at the fair value at the date of revaluation, as determined by reference to an active market.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
15% reducing balance
Office equipment
-
33% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. INTANGIBLE ASSETS
Cryptocurrency
£
Cost
At 1 April 2023
30,548
Additions
Revaluations
42,019
--------
At 31 March 2024
72,567
--------
Amortisation
At 1 April 2023 and 31 March 2024
--------
Carrying amount
At 31 March 2024
72,567
--------
At 31 March 2023
30,548
--------
Intangible assets held at valuation
The revaluation of the above assets has resulted in a credit to the profit and loss account of £42,019 (2023: debit of £22,718). Since the year end the value of the assets has suffered a small reduction, such that the current valuation stands at £65,889.
6. TANGIBLE ASSETS
Motor vehicles
Office equipment
Total
£
£
£
Cost
At 1 April 2023
43,490
6,793
50,283
Additions
378
378
Disposals
( 3,406)
( 3,406)
--------
-------
--------
At 31 March 2024
43,490
3,765
47,255
--------
-------
--------
Depreciation
At 1 April 2023
12,068
5,972
18,040
Charge for the year
4,714
547
5,261
Disposals
( 3,406)
( 3,406)
--------
-------
--------
At 31 March 2024
16,782
3,113
19,895
--------
-------
--------
Carrying amount
At 31 March 2024
26,708
652
27,360
--------
-------
--------
At 31 March 2023
31,422
821
32,243
--------
-------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
378
Corporation tax
6,252
2,042
Social security and other taxes
120
Other creditors
41,954
26,353
--------
--------
48,704
28,395
--------
--------
8. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
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