Registered number
02274702
Multithread Consultants Limited
Filleted Accounts
30 June 2024
Multithread Consultants Limited
Registered number: 02274702
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 37,206 41,066
Investments 4 1,555,852 -
1,593,058 41,066
Current assets
Stocks 1,422,559 2,369,760
Debtors 5 432,951 304,432
Cash at bank and in hand 273,136 141,337
2,128,646 2,815,529
Creditors: amounts falling due within one year 6 (861,979) (734,675)
Net current assets 1,266,667 2,080,854
Total assets less current liabilities 2,859,725 2,121,920
Provisions for liabilities (9,301) (10,266)
Net assets 2,850,424 2,111,654
Capital and reserves
Called up share capital 185 185
Profit and loss account 2,850,239 2,111,469
Shareholders' funds 2,850,424 2,111,654
The directors are 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 directors acknowledge their 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.
J Kinnersley
Director
Approved by the board on 21 March 2025
Multithread Consultants Limited
Notes to the Accounts
for the year ended 30 June 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
Leasehold improvements 10% straight line
Fixtures and fittings 25% reducing balance
Equipment 20% reducing balance
Investments
Investments in subsidiaries are measured at cost less provision for impairment.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Deferred tax
Provision is made to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences using tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Foreign currency translation
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date the transaction or average rates. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating lease agreements
Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against profits on a straight line basis over the period of the lease.
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 13 11
3 Tangible fixed assets
Short leasehold property Fixtures and fittings Equipment Total
£ £ £ £
Cost
At 1 July 2023 37,476 74,994 110,632 223,102
Additions - - 5,983 5,983
Disposals - (23,299) - (23,299)
At 30 June 2024 37,476 51,695 116,615 205,786
Depreciation
At 1 July 2023 22,950 65,124 93,962 182,036
Charge for the year 1,453 2,469 4,738 8,660
On disposals - (22,116) - (22,116)
At 30 June 2024 24,403 45,477 98,700 168,580
Net book value
At 30 June 2024 13,073 6,218 17,915 37,206
At 30 June 2023 14,526 9,870 16,670 41,066
4 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 1,555,852
At 30 June 2024 1,555,852
5 Debtors 2024 2023
£ £
Trade debtors 381,493 259,526
Other debtors 51,458 44,906
432,951 304,432
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,761 7,053
Trade creditors 313,624 328,275
Taxation and social security costs 318,803 388,977
Other creditors 221,791 10,370
861,979 734,675
7 Other information
Multithread Consultants Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Williamsport Way
Lion Barn Industrial Estate
Needham Market
IP6 8RW
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