REGISTERED NUMBER: 10203857 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

MULTIWAL UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Martinus Franciscus Kool

REGISTERED OFFICE:

Unit B

Rochdale Industrial Estate

Norman Road

ROCHDALE

Lancashire

OL11 4HS

REGISTERED NUMBER:

10203857 (England and Wales)

ACCOUNTANTS:

G & C Professionals Limited

trading as Graham & Company

Chartered Certified Accountants

Cleveland House

1-10 Sitwell Street

KINGSTON UPON HULL

East Yorkshire

HU8 7BE

FIXED ASSETS

Tangible assets

4

8,090

12,521

CURRENT ASSETS

Stocks

5

57,000

-

Debtors

6

164,508

280,662

Cash at bank and in hand

4,090

2,794

225,598

283,456

CREDITORS

Amounts falling due within one year

7

1,225,808

1,112,684

NET CURRENT LIABILITIES

(1,000,210

)

(829,228

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(992,120

)

(816,707

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

(992,220

)

(816,807

)

SHAREHOLDERS' FUNDS

(992,120

)

(816,707

)

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 director acknowledges his 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 director and authorised for issue on 3 September 2025 and were signed by:

Martinus Franciscus Kool - Director

1.	STATUTORY INFORMATION

MULTIWAL UK 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.

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.

The financial statements have been prepared on a going concern basis which assumes the continued support of the parent company as described in the note for Creditors : Amounts falling due within one year.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office and computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Office

Fixtures

and

Plant and

and

Motor

computer

equipment

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

3,400

2,121

57,685

8,791

71,997

Additions

400

-

-

882

1,282

At 31 December 2024

3,800

2,121

57,685

9,673

73,279

DEPRECIATION

At 1 January 2024

1,785

1,447

47,685

8,559

59,476

Charge for year

291

102

5,000

320

5,713

At 31 December 2024

2,076

1,549

52,685

8,879

65,189

NET BOOK VALUE

At 31 December 2024

1,724

572

5,000

794

8,090

At 31 December 2023

1,615

674

10,000

232

12,521

5.

STOCKS

2024

2023

£

£

Work in progress

57,000

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

112,449

214,767

Other debtors

23,506

40,757

VAT

7,928

3,112

Prepayments

20,625

22,026

164,508

280,662

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

18,409

13,374

Amounts owed to group undertakings

1,137,704

977,390

Other creditors

49,931

76,767

Deferred sales

-

39,000

Accrued expenses

19,764

6,153

1,225,808

1,112,684

Amounts owed to group undertakings relates to Multiwal BV, the parent company. There are no specific terms with regard to interest charges or repayment of this loan. The parent company has indicated that the above funds will not be withdrawn until the company achieves a solvent financial position.

8.	LEASING AGREEMENTS

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

2024

2023

£

£

Between one and five years

29,811

29,811

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 January 2024

(816,807

)

Deficit for the year

(175,413

)

At 31 December 2024

(992,220

)

11.	RELATED PARTY DISCLOSURES

During the period under review the company traded with it's holding company, Multiwal BV. The

company purchased goods and services from this company, all of these transactions were at normal

commercial rates.

Goods and services totalled £160,270 (2023 - £344,498) and the amount outstanding at the balance sheet date (included in the "Amount owed to group undertakings") was £1,061,756 (2023 - £901,442).

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Multiwal BV.