Registered number
04070752
MULTIBYTE LIMITED
Filleted Accounts
31 January 2024
SAUNDERS & RICHARD LTD
Chartered Certified Accountants
187 WOODHOUSE ROAD
NORTH FINCHLEY
LONDON
N12 9AY
3933A-22
MULTIBYTE LIMITED
Registered number: 04070752
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 130 174
Current assets
Debtors 4 1,910 12,600
Cash at bank and in hand 75,352 109,666
77,262 122,266
Creditors: amounts falling due within one year 5 (4,980) (44,107)
Net current assets 72,282 78,159
Total assets less current liabilities 72,412 78,333
Provisions for liabilities - (33)
Net assets 72,412 78,300
Capital and reserves
Called up share capital 100 100
Profit and loss account 72,312 78,200
Shareholders' funds 72,412 78,300
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. A C Wedge
Director
Approved by the board on 29 October 2024
MULTIBYTE LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% p.a on writtern down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, Fittings & Equipment
£
Cost
At 1 February 2023 6,834
At 31 January 2024 6,834
Depreciation
At 1 February 2023 6,660
Charge for the year 44
At 31 January 2024 6,704
Net book value
At 31 January 2024 130
At 31 January 2023 174
4 Debtors 2024 2023
£ £
Trade debtors - 12,600
Other debtors 1,910 -
1,910 12,600
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,457 16,234
Other creditors 3,523 27,873
4,980 44,107
6 Controlling party
The company is controlled by A C Wedge and A Hammond by virtue of having ownership of 100% of the issued ordinary share capital in the company.
7 Other information
MULTIBYTE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
16 HINSTOCK CLOSE
FARNBOROUGH
ENGLAND
GU14 0BE
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