Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseThe sale of machinery and industrial equipment.77falsetruefalse 11623016 2023-01-01 2023-12-31 11623016 2022-01-01 2022-12-31 11623016 2023-12-31 11623016 2022-12-31 11623016 c:Director3 2023-01-01 2023-12-31 11623016 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 11623016 d:Buildings d:ShortLeaseholdAssets 2023-12-31 11623016 d:Buildings d:ShortLeaseholdAssets 2022-12-31 11623016 d:MotorVehicles 2023-01-01 2023-12-31 11623016 d:MotorVehicles 2023-12-31 11623016 d:MotorVehicles 2022-12-31 11623016 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11623016 d:FurnitureFittings 2023-01-01 2023-12-31 11623016 d:FurnitureFittings 2023-12-31 11623016 d:FurnitureFittings 2022-12-31 11623016 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11623016 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11623016 d:CurrentFinancialInstruments 2023-12-31 11623016 d:CurrentFinancialInstruments 2022-12-31 11623016 d:Non-currentFinancialInstruments 2023-12-31 11623016 d:Non-currentFinancialInstruments 2022-12-31 11623016 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11623016 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11623016 d:ShareCapital 2023-12-31 11623016 d:ShareCapital 2022-12-31 11623016 d:RetainedEarningsAccumulatedLosses 2023-12-31 11623016 d:RetainedEarningsAccumulatedLosses 2022-12-31 11623016 c:FRS102 2023-01-01 2023-12-31 11623016 c:Audited 2023-01-01 2023-12-31 11623016 c:FullAccounts 2023-01-01 2023-12-31 11623016 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11623016 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11623016 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11623016 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11623016 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11623016










MULTITEL U.K. LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MULTITEL U.K. LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 7

 
MULTITEL U.K. LIMITED
REGISTERED NUMBER: 11623016

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
56,482
79,632

Current assets
  

Stocks
 5 
649,815
177,679

Debtors
 6 
431,174
798,412

Cash at bank and in hand
  
1,673,026
713,960

  
2,754,015
1,690,051

Creditors: amounts falling due within one year
 7 
(1,834,462)
(912,298)

Net current assets
  
 
 
919,553
 
 
777,753

Total assets less current liabilities
  
976,035
857,385

Provisions for liabilities
  

Deferred tax
 8 
(14,877)
(14,877)

  
 
 
(14,877)
 
 
(14,877)

Net assets
  
961,158
842,508


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
961,058
842,408

  
961,158
842,508


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 comprehensive income 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 on 25 October 2024.




A Pagliero
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
MULTITEL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

This is a private company limited by share capital, incorporated in England and Wales. The registered office address is 14th Floor 33 Cavendish Square, London, W1G 0PW. The principal trading address is Unit 10, Scott Road Industrial Estate, Sundon Park Road, Luton, LU3 3HP.

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

Going concern

After reviewing the company's forecasts and projecions the directors have a reasonable expectation that the company has adequate resources to continue to operate for the forseeable future. Thus they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 2

 
MULTITEL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'administrative expenses'.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
MULTITEL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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:

Leasehold improvements
-
over the term of the lease
Motor vehicles
-
5 years
Fixtures and fittings
-
5 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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is basd on the cost of pruchase on a first in, first our basis. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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.

 
2.11

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.

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 4

 
MULTITEL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold improvements
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 January 2023
6,920
114,538
8,988
130,446


Additions
-
-
3,316
3,316



At 31 December 2023

6,920
114,538
12,304
133,762



Depreciation


At 1 January 2023
5,073
43,777
1,964
50,814


Charge for the year on owned assets
1,783
22,333
2,350
26,466



At 31 December 2023

6,856
66,110
4,314
77,280



Net book value



At 31 December 2023
64
48,428
7,990
56,482



At 31 December 2022
1,847
70,761
7,024
79,632

Page 5

 
MULTITEL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Spare Parts
59,682
36,211

Machines
590,133
141,468

649,815
177,679



6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors

20,100
20,100

Due within one year

Trade debtors
358,792
750,947

Other debtors
4,275
5,775

Prepayments and accrued income
48,007
21,590

431,174
798,412


Page 6

 
MULTITEL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
11,648
20,262

Amounts owed to group undertakings
1,317,590
523,803

Corporation tax
25,985
62,500

Other taxation and social security
331,257
106,735

Other creditors
48,607
51,630

Accruals and deferred income
99,375
147,368

1,834,462
912,298



8.


Deferred taxation




2023


£






At beginning of year
(14,877)



At end of year
(14,877)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(14,877)
(14,877)


9.


Controlling party

The immediate and ultimate parent company is Multitel Pagliero S.P.A., a company incorporated in Italy. The group financial statements, in which these financial statements have been consolidated are available from Strada Statale 114, 12030 Manta (CN), Italy.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 October 2024 by James Hallett (ACA) (Senior statutory auditor) on behalf of Sumer Auditco Limited.

 
Page 7