| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Multus Properties Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| Multus Properties Limited |
| Multus Properties Limited (Registered number: 14300223) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountants | 7 |
| Multus Properties Limited |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Coolings Farm |
| Long Drove |
| Walcott Fen |
| Lincolnshire |
| LN4 4BQ |
| Multus Properties Limited (Registered number: 14300223) |
| Abridged Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Multus Properties Limited (Registered number: 14300223) |
| Abridged Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Multus Properties Limited (Registered number: 14300223) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Multus Properties Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company is technically insolvent due to initial start up costs and is reliant upon the directors for support. The directors have pledged continuing support to the company and have agreed not to withdraw their directors' loans until the company has sufficient funds to do so without prejudicing any other creditor. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Multus Properties Limited (Registered number: 14300223) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| Additions |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| 5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 6. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.24 | 31.8.23 |
| £ | £ |
| One Savings Bank Plc | 306,618 | - |
| The following charges are held over the company : |
| One Savings Bank Plc (Trading as Kent Reliance) hold a charge over the freehold property 57 Northfield Street, Worcester, WR1 1NT dated 24 May 2024 and a charge over the freehold property 41 Nelson Road, Worcester, WR2 5BL dated 14 June 2024. |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.24 | 31.8.23 |
| value: | £ | £ |
| Ordinary A shares | £1 | 50 | 50 |
| Ordinary B Shares | £1 | 50 | 50 |
| 100 | 100 |
| Both A and B shares are entitled to vote and receive dividends. |
| 8. | CONTINGENT LIABILITIES |
| There were no material contingent liabilities at the period end date. |
| Multus Properties Limited (Registered number: 14300223) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The directors have pledged continuing support to the company and have agreed not to withdraw their directors' loans until the company has sufficient funds to do so without prejudicing any other creditor. |
| 10. | POST BALANCE SHEET EVENTS |
| There were no known material post balance sheet events. |
| Multus Properties Limited |
| Report of the Accountants to the Directors of |
| Multus Properties Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2024 set out on pages three to eight and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| Coolings Farm |
| Long Drove |
| Walcott Fen |
| Lincolnshire |
| LN4 4BQ |