Retail Multiples (Walsall) Ltd 11520020 false 2023-08-31 2024-08-30 2024-08-30 The principal activity of the company is Letting and operating Digita Accounts Production Advanced 6.30.9574.0 true true 11520020 2023-08-31 2024-08-30 11520020 2024-08-30 11520020 bus:OrdinaryShareClass1 2024-08-30 11520020 core:CurrentFinancialInstruments 2024-08-30 11520020 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-30 11520020 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-30 11520020 core:OtherResidualIntangibleAssets 2024-08-30 11520020 core:OfficeEquipment 2024-08-30 11520020 bus:SmallEntities 2023-08-31 2024-08-30 11520020 bus:AuditExemptWithAccountantsReport 2023-08-31 2024-08-30 11520020 bus:FilletedAccounts 2023-08-31 2024-08-30 11520020 bus:SmallCompaniesRegimeForAccounts 2023-08-31 2024-08-30 11520020 bus:RegisteredOffice 2023-08-31 2024-08-30 11520020 bus:Director1 2023-08-31 2024-08-30 11520020 bus:Director2 2023-08-31 2024-08-30 11520020 bus:OrdinaryShareClass1 2023-08-31 2024-08-30 11520020 bus:PrivateLimitedCompanyLtd 2023-08-31 2024-08-30 11520020 core:OfficeEquipment 2023-08-31 2024-08-30 11520020 countries:AllCountries 2023-08-31 2024-08-30 11520020 2023-08-30 11520020 core:OtherResidualIntangibleAssets 2023-08-30 11520020 core:OfficeEquipment 2023-08-30 11520020 2022-08-31 2023-08-30 11520020 2023-08-30 11520020 bus:OrdinaryShareClass1 2023-08-30 11520020 core:CurrentFinancialInstruments 2023-08-30 11520020 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-30 11520020 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-30 11520020 core:OtherResidualIntangibleAssets 2023-08-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11520020

Retail Multiples (Walsall) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 August 2024

 

Retail Multiples (Walsall) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Retail Multiples (Walsall) Ltd

Company Information

Directors

Mr Philip John Lamb

Mr Peter John Docherty

Registered office

C/O Williamson Croft (Liverpool) Limited
1 Old Hall Street
First Floor
Liverpool
L3 9HF

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants
1 Old Hall Street
1st Floor
Liverpool
L3 9HF

 

Retail Multiples (Walsall) Ltd

(Registration number: 11520020)
Balance Sheet as at 30 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

42,938

42,938

Current assets

 

Debtors

6

6,988

4,395

Cash at bank and in hand

 

2,847

3,281

 

9,835

7,676

Creditors: Amounts falling due within one year

7

(47,827)

(35,401)

Net current liabilities

 

(37,992)

(27,725)

Total assets less current liabilities

 

4,946

15,213

Creditors: Amounts falling due after more than one year

7

(5,996)

(15,197)

Net (liabilities)/assets

 

(1,050)

16

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(1,052)

14

Shareholders' (deficit)/funds

 

(1,050)

16

For the financial year ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Retail Multiples (Walsall) Ltd

(Registration number: 11520020)
Balance Sheet as at 30 August 2024

Approved and authorised by the Board on 3 March 2025 and signed on its behalf by:
 

.........................................
Mr Philip John Lamb
Director

 

Retail Multiples (Walsall) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
C/O Williamson Croft (Liverpool) Limited
1 Old Hall Street
First Floor
Liverpool
L3 9HF

These financial statements were authorised for issue by the Board on 3 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Retail Multiples (Walsall) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Retail Multiples (Walsall) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Retail Multiples (Walsall) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 31 August 2023

42,938

42,938

At 30 August 2024

42,938

42,938

Carrying amount

At 30 August 2024

42,938

42,938

At 30 August 2023

42,938

42,938

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 31 August 2023

735

735

At 30 August 2024

735

735

Depreciation

At 31 August 2023

735

735

At 30 August 2024

735

735

Carrying amount

At 30 August 2024

-

-

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

3,115

4,295

Amounts owed by related parties

9

-

100

Prepayments

 

3,615

-

Other debtors

 

258

-

   

6,988

4,395

 

Retail Multiples (Walsall) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8,000

8,000

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

37,210

2,025

Taxation and social security

 

-

4,379

Accruals and deferred income

 

2,008

1,600

Other creditors

 

609

19,397

 

47,827

35,401

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

5,996

13,997

Other non-current financial liabilities

 

-

1,200

 

5,996

15,197

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

9

Related party transactions

As at 30 August 2024 there were amounts totalling £37,210 (2023: £2,025) owed to Retail Multiples Ltd, a company controlled by both of the Directors. The amounts are unsecured, interest free and repayable on demand.