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Registration number: 11185170

Multitec Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Multitec Solutions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Multitec Solutions Ltd

Company Information

Director

Mr B Robinson

Registered office

1 Meadowsweet Road
Hartlepool
TS26 0QR

Accountants

Goldstrong Accountants Ltd
55 Heaton Road
Grange Park
Billingham
Cleveland
TS23 3GP

 

Multitec Solutions Ltd

(Registration number: 11185170)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

40,241

61,783

Current assets

 

Debtors

5

124,857

123,929

Cash at bank and in hand

 

73,465

21,320

 

198,322

145,249

Creditors: Amounts falling due within one year

6

(63,157)

(33,665)

Net current assets

 

135,165

111,584

Total assets less current liabilities

 

175,406

173,367

Creditors: Amounts falling due after more than one year

6

(37,843)

(60,822)

Provisions for liabilities

(10,060)

(11,739)

Net assets

 

127,503

100,806

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

127,403

100,706

Shareholders' funds

 

127,503

100,806

 

Multitec Solutions Ltd

(Registration number: 11185170)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 April 2025
 

.........................................
Mr B Robinson
Director

 

Multitec Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
1 Meadowsweet Road
Hartlepool
TS26 0QR

These financial statements were authorised for issue by the director on 28 April 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 sale of goods and 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 and deferred 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.

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.

 

Multitec Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Straight line basis at 33.33%

Motor vehicles

Reducing balance basis at a 3 year average of 27%

Plant and machinery

Straight line basis at 33.33%

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.

Borrowings

 

Multitec Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

 

Multitec Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

4,057

66,790

396

71,243

Additions

783

-

-

783

At 31 March 2025

4,840

66,790

396

72,026

Depreciation

At 1 April 2024

3,513

5,893

55

9,461

Charge for the year

332

21,860

132

22,324

At 31 March 2025

3,845

27,753

187

31,785

Carrying amount

At 31 March 2025

995

39,037

209

40,241

At 31 March 2024

545

60,897

341

61,783

5

Debtors

Current

Note

2025
£

2024
£

Amounts owed by related parties

9

124,857

123,929

   

124,857

123,929

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

22,979

22,204

Taxation and social security

 

39,222

10,051

Accruals and deferred income

 

-

502

Other creditors

 

956

908

 

63,157

33,665

 

Multitec Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

37,843

60,822

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

A Ordinary share of £1 each

50

50

50

50

B Ordinary share of £1 each

25

25

25

25

C Ordinary share of £1 each

25

25

25

25

100

100

100

100

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

4,167

14,167

Finance lease liabilities

33,676

46,655

37,843

60,822

Current loans and borrowings

2025
£

2024
£

Bank borrowings

10,000

10,000

Finance lease liabilities

12,979

12,204

22,979

22,204

 

Multitec Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Related party transactions

Summary of transactions with other related parties


The company director, Mr B Robinson, owns 100% of the share capital of the company.

The related party is Roam and Away Ltd, a company which is also owned 100% by the company director.

 
The company has provided an interest free loan to the related party, Roam and Away Ltd.


 

Loans to related parties

2025

Other related parties
£

Total
£

At start of period

123,929

123,929

Advanced

928

928

At end of period

124,857

124,857

2024

Other related parties
£

Total
£

At start of period

97,099

97,099

Advanced

26,830

26,830

At end of period

123,929

123,929

Terms of loans to related parties


The loan advancements to Roam and Away Ltd are repayable when the loanee is financially capable to do so.

The loan advancements have no scheduled terms of repayment and are provided free of interest to Roam and Away Ltd.