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REGISTERED NUMBER: SC426986 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Imultiply Resourcing Ltd

Imultiply Resourcing Ltd (Registered number: SC426986)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Imultiply Resourcing Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: K J Flanagan
Ms K Mackenzie





REGISTERED OFFICE: Imultiply Global Headquarters
8b Mcdonald Road
Edinburgh
EH7 4LZ





REGISTERED NUMBER: SC426986 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Imultiply Resourcing Ltd (Registered number: SC426986)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 831
Tangible assets 5 9,706 23,294
9,706 24,125

CURRENT ASSETS
Debtors 6 262,217 346,848
Cash at bank 187,124 250,606
449,341 597,454
CREDITORS
Amounts falling due within one year 7 391,028 469,796
NET CURRENT ASSETS 58,313 127,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,019

151,783

CREDITORS
Amounts falling due after more than one year 8 (14,930 ) (93,129 )

PROVISIONS FOR LIABILITIES 10 (4,937 ) (3,492 )
NET ASSETS 48,152 55,162

CAPITAL AND RESERVES
Called up share capital 800 800
Share premium 19,800 19,800
Capital redemption reserve 200 200
Retained earnings 27,352 34,362
48,152 55,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Imultiply Resourcing Ltd (Registered number: SC426986)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:





Ms K Mackenzie - Director


Imultiply Resourcing Ltd (Registered number: SC426986)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Imultiply Resourcing Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Imultiply Resourcing Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from permanent staff placements is recognised at the date a candidate commences their new employment.

Revenue from temporary staff and contractor placements is recognised over the period that the services are provided.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

An impairment review was carried out at the year end and there were no signs of impairment noted.

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.


Imultiply Resourcing Ltd (Registered number: SC426986)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have considered a period of at least 12 months from the date of these financial statements and, having considered all relevant information available to them, believe it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2024
and 31 December 2024 9,970
AMORTISATION
At 1 January 2024 9,139
Amortisation for year 831
At 31 December 2024 9,970
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 831

Imultiply Resourcing Ltd (Registered number: SC426986)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 33,856 19,438 53,294
Additions - 834 834
At 31 December 2024 33,856 20,272 54,128
DEPRECIATION
At 1 January 2024 16,364 13,636 30,000
Charge for year 11,771 2,651 14,422
At 31 December 2024 28,135 16,287 44,422
NET BOOK VALUE
At 31 December 2024 5,721 3,985 9,706
At 31 December 2023 17,492 5,802 23,294

6. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 111,437 213,825
Other debtors 50,780 33,023
162,217 246,848

Amounts falling due after more than one year:
Other debtors 100,000 100,000

Aggregate amounts 262,217 346,848

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 93,129 94,999
Trade creditors 28,286 30,077
Taxation and social security 209,333 252,144
Other creditors 60,280 92,576
391,028 469,796

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 14,930 93,129

Imultiply Resourcing Ltd (Registered number: SC426986)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 108,059 188,128

Included in bank loans is a loan secured by guarantee from the UK Government under the Coronavirus Business Interruption Loan Scheme and another bank loan secured by a floating charge over the company's assets.

10. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 4,937 3,492

Deferred
tax
£   
Balance at 1 January 2024 3,492
Provided during year 1,445
Balance at 31 December 2024 4,937