2023-06-012024-05-312024-05-31false07227873Multi Trade Plus 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Multi Trade Plus Limited

Registered Number
07227873
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Multi Trade Plus Limited
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

J Givvons

Registered Address

C/O Seftons
135 - 143 Union Street
Oldham
OL1 1TE

Registered Number

07227873 (England and Wales)
Multi Trade Plus Limited
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets395,272118,459
95,272118,459
Current assets
Debtors4722,431595,310
Current asset investments5105,456-
Cash at bank and on hand882,526747,105
1,710,4131,342,415
Creditors amounts falling due within one year6(531,216)(447,721)
Net current assets (liabilities)1,179,197894,694
Total assets less current liabilities1,274,4691,013,153
Provisions for liabilities7(15,699)-
Net assets1,258,7701,013,153
Capital and reserves
Called up share capital100100
Profit and loss account1,258,6701,013,053
Shareholders' funds1,258,7701,013,153
The financial statements were approved and authorised for issue by the Director on 19 November 2024, and are signed on its behalf by:
J Givvons
Director
Registered Company No. 07227873
Multi Trade Plus Limited
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 policy
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
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
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other 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.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year99
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 23-141,97748,784190,761
Additions4,415-3,6658,080
At 31 May 244,415141,97752,449198,841
Depreciation and impairment
At 01 June 23-34,11538,18772,302
Charge for year73626,9663,56531,267
At 31 May 2473661,08141,752103,569
Net book value
At 31 May 243,67980,89610,69795,272
At 31 May 23-107,86210,597118,459
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables707,146578,420
Prepayments and accrued income15,28516,890
Total722,431595,310
5.Current asset investments
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables265,543254,235
Taxation and social security215,038143,353
Other creditors83596
Accrued liabilities and deferred income50,55249,537
Total531,216447,721
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)15,699-
Total15,699-