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REGISTERED NUMBER: 10467515 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

MULTAX LIMITED

MULTAX LIMITED (REGISTERED NUMBER: 10467515)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MULTAX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: Mr A Mizen
Mr J D McNab





REGISTERED OFFICE: 14 London Street
Andover
Hampshire
SP10 2PA





REGISTERED NUMBER: 10467515 (England and Wales)





ACCOUNTANTS: Hysons
Chartered Accountants
14 London Street
Andover
Hampshire
SP10 2PA

MULTAX LIMITED (REGISTERED NUMBER: 10467515)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,805,586 2,777,720

CURRENT ASSETS
Stocks 95,000 95,000
Debtors 6 1,212,118 671,577
Cash at bank 267,607 288,197
1,574,725 1,054,774
CREDITORS
Amounts falling due within one year 7 1,407,912 1,253,051
NET CURRENT ASSETS/(LIABILITIES) 166,813 (198,277 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,972,399

2,579,443

CREDITORS
Amounts falling due after more than
one year

8

(1,181,496

)

(1,444,640

)

PROVISIONS FOR LIABILITIES (539,710 ) (515,904 )
NET ASSETS 1,251,193 618,899

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 1,251,091 618,797
1,251,193 618,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MULTAX LIMITED (REGISTERED NUMBER: 10467515)

BALANCE SHEET - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:




Mr A Mizen - Director



Mr J D McNab - Director


MULTAX LIMITED (REGISTERED NUMBER: 10467515)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Multax Limited is a private company, limited by shares , registered in England and Wales. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 1% on cost
Plant and machinery - 10% on cost and 10% on reducing balance
Fixtures and fittings - 25% on reducing balance and 20% on reducing balance
Motor vehicles - 25% on cost
Office and computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MULTAX LIMITED (REGISTERED NUMBER: 10467515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 31 ) .

MULTAX LIMITED (REGISTERED NUMBER: 10467515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 December 2023 627,918 2,947,554 48,102
Additions - 422,735 6,781
Disposals - (50,037 ) -
At 30 November 2024 627,918 3,320,252 54,883
DEPRECIATION
At 1 December 2023 26,090 906,031 30,264
Charge for year 6,278 332,025 6,155
Eliminated on disposal - (34,143 ) -
At 30 November 2024 32,368 1,203,913 36,419
NET BOOK VALUE
At 30 November 2024 595,550 2,116,339 18,464
At 30 November 2023 601,828 2,041,523 17,838

Office
and
Motor computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2023 148,990 50,052 3,822,616
Additions - 6,554 436,070
Disposals - - (50,037 )
At 30 November 2024 148,990 56,606 4,208,649
DEPRECIATION
At 1 December 2023 42,993 39,518 1,044,896
Charge for year 37,247 10,605 392,310
Eliminated on disposal - - (34,143 )
At 30 November 2024 80,240 50,123 1,403,063
NET BOOK VALUE
At 30 November 2024 68,750 6,483 2,805,586
At 30 November 2023 105,997 10,534 2,777,720

MULTAX LIMITED (REGISTERED NUMBER: 10467515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 December 2023 86,025 2,081,000 137,500 2,304,525
Additions - 368,000 - 368,000
Transfer to ownership (86,025 ) - - (86,025 )
At 30 November 2024 - 2,449,000 137,500 2,586,500
DEPRECIATION
At 1 December 2023 3,331 557,163 34,375 594,869
Charge for year - 255,557 34,375 289,932
Transfer to ownership (3,331 ) - - (3,331 )
At 30 November 2024 - 812,720 68,750 881,470
NET BOOK VALUE
At 30 November 2024 - 1,636,280 68,750 1,705,030
At 30 November 2023 82,694 1,523,837 103,125 1,709,656

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,198,622 663,537
Other debtors 3,812 3,875
Prepayments and accrued income 9,684 4,165
1,212,118 671,577

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 107,754 50,875
Hire purchase contracts 396,225 391,721
Trade creditors 431,815 455,923
Tax 198,474 -
Social security and other taxes 40,015 54,111
Pensions creditor 6,277 4,466
VAT 202,126 95,109
Directors' current accounts 5,581 189,225
Accruals and deferred income 19,645 11,621
1,407,912 1,253,051

MULTAX LIMITED (REGISTERED NUMBER: 10467515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 107,754 90,252
Bank loans - 2-5 years 123,370 270,685
Bank loans more 5 yr by instal 121,635 147,200
Hire purchase contracts 828,737 936,503
1,181,496 1,444,640

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 121,635 147,200

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 460,513 559,012
Hire purchase contracts 1,224,962 1,328,224
1,685,475 1,887,236