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Registration number: 08172324

Multiflor Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Multiflor Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Multiflor Limited

(Registration number: 08172324)

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

13,740

17,575

Current assets

 

Stocks

29,320

50,265

Debtors

4

119,456

147,359

Cash at bank and in hand

 

139,468

166,221

 

288,244

363,845

Creditors: Amounts falling due within one year

5

(144,247)

(134,372)

Net current assets

 

143,997

229,473

Total assets less current liabilities

 

157,737

247,048

Creditors: Amounts falling due after more than one year

5

(96,938)

(116,377)

Net assets

 

60,799

130,671

capital and reserves

 

Called up share capital

10

10

Profit and loss account

60,789

130,661

Shareholders' funds

 

60,799

130,671

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

 

Multiflor Limited

(Registration number: 08172324)

Balance Sheet as at 31 August 2024 (continued)

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 29 August 2025 and signed on its behalf by:
 

.........................................

Mr Benjamin Bjork

Director

 

Multiflor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

Accounting policies

Statutory information

Multiflor Limited is a private company, limited by shares, domiciled in England and Wales, company number 08172324. The registered office is at Unit 28 Strawberry Meadows Business Park, Berry Way, Euxton, Chorley, PR7 6FL.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

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. Revenue is recognised at the point of application being made on the contract.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Multiflor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

1

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 corporation 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.

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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Work in progress comprises direct materials and overheads that have been incurred in bringing the contracts to their present valuation. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 Statement of Income and Retained Earnings and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Multiflor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

1

Accounting policies (continued)

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

3

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost

At 1 September 2023

12,958

14,625

27,583

At 31 August 2024

12,958

14,625

27,583

Depreciation

At 1 September 2023

7,083

2,925

10,008

Charge for the year

1,495

2,340

3,835

At 31 August 2024

8,578

5,265

13,843

Carrying amount

At 31 August 2024

4,380

9,360

13,740

At 31 August 2023

5,875

11,700

17,575

 

Multiflor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Debtors

2024
£

2023
£

Trade debtors

78,835

68,038

Prepayments

1,856

1,038

Other debtors

38,765

78,283

 

119,456

147,359

5

Creditors

2024
£

2023
£

Due within one year

Bank overdraft

26,867

24,827

Bounce back loan

4,545

4,545

Finance lease liabilities

-

2,241

Trade creditors

33,652

28,975

Taxation and social security

78,850

73,669

Other creditors

333

115

144,247

134,372

2024
£

2023
£

Due after one year

Bounce back loan

32,019

36,808

Business finance loan

15,383

20,033

Other non-current financial liabilities

49,536

59,536

96,938

116,377

The business finance loan is secured against a personal guarantee given by both of the directors.

Finance lease liabilities are secured against the assets concerned.