REGISTERED NUMBER: SC256775 (Scotland)

Multiply (UK) Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D Bradley-Bird

Mrs K E Fenton

Mr M G Fowlestone

SECRETARY:

Mr D Bradley-Bird

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

EH3 6AT

REGISTERED NUMBER:

SC256775 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

36 St Andrew Square

Edinburgh

EH2 2AD

FIXED ASSETS

Intangible assets

4

11,550

23,100

Tangible assets

5

28,136

40,354

Investments

6

25

25

39,711

63,479

CURRENT ASSETS

Debtors

7

344,907

357,069

Cash at bank

105,548

293,525

450,455

650,594

CREDITORS

Amounts falling due within one year

8

333,352

459,483

NET CURRENT ASSETS

117,103

191,111

TOTAL ASSETS LESS CURRENT LIABILITIES

156,814

254,590

CREDITORS

Amounts falling due after more than one year

9

(144,439

)

(190,806

)

PROVISIONS FOR LIABILITIES

-

(6,104

)

NET ASSETS

12,375

57,680

CAPITAL AND RESERVES

Called up share capital

80,000

80,000

Share premium

145,022

145,022

Capital redemption reserve

5,106

5,106

Retained earnings

(217,753

)

(172,448

)

SHAREHOLDERS' FUNDS

12,375

57,680

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.

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 10 September 2025 and were signed on its behalf by:

Mr D Bradley-Bird - Director

1.	STATUTORY INFORMATION

Multiply (UK) Limited 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.

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.

Turnover and revenue recognition

Turnover represents net invoiced sales of advertising services, excluding value added tax.

Revenue from advertising is recognised when the service has been provided and all obligations to the customers under the sales agreement have been fulfilled. For larger advertising contracts containing several milestones, revenue is recognised as each milestone is achieved.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, was previously amortised evenly over its estimated useful life of 20 years. The Directors have reviewed the London operation and now believe that the estimated useful life as at the year end was 10 years. From 1 January 2016 the balance outstanding is therefore being amortised evenly over its revised remaining estimated useful life of 10 years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on cost

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.

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.

Fixed assets investments

Fixed asset investments comprise unlisted equities whose value cannot be measured reliably. Accordingly, these investments are recognised at cost.

Going concern

The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future. In order to do so the company will require the continued support of the bank and the directors.

Provisions

Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

144,378

AMORTISATION

At 1 January 2024

121,278

Charge for year

11,550

At 31 December 2024

132,828

NET BOOK VALUE

At 31 December 2024

11,550

At 31 December 2023

23,100

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

130,502

Additions

8,823

At 31 December 2024

139,325

DEPRECIATION

At 1 January 2024

90,148

Charge for year

21,041

At 31 December 2024

111,189

NET BOOK VALUE

At 31 December 2024

28,136

At 31 December 2023

40,354

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

10,152

Transfer to ownership

(10,152

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

10,152

Transfer to ownership

(10,152

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

25

NET BOOK VALUE

At 31 December 2024

25

At 31 December 2023

25

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

270,462

334,339

Other debtors

74,445

22,730

344,907

357,069

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,123

9,881

Trade creditors

145,609

159,489

Taxation and social security

112,097

119,968

Other creditors

65,523

170,145

333,352

459,483

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,544

15,911

Other creditors

138,895

174,895

144,439

190,806

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

12,487

19,510

Between one and five years

-

3,117

12,487

22,627

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mrs K E Fenton

Balance outstanding at start of year

(39,170

)

(84,170

)

Amounts advanced

52,860

45,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,690

(39,170

)

Mr D Bradley-Bird

Balance outstanding at start of year

(39,539

)

(85,539

)

Amounts advanced

47,836

46,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,297

(39,539

)

Mr M G Fowlestone

Balance outstanding at start of year

(39,005

)

(84,005

)

Amounts advanced

47,032

45,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,027

(39,005

)

Loans to the directors, included within other debtors, are unsecured, repayable on demand, and interest payable at 2.25%.