Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 03680871 R S Hussain I F Hussain iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03680871 2023-12-31 03680871 2024-12-31 03680871 2024-01-01 2024-12-31 03680871 frs-core:CurrentFinancialInstruments 2024-12-31 03680871 frs-core:ComputerEquipment 2024-12-31 03680871 frs-core:ComputerEquipment 2024-01-01 2024-12-31 03680871 frs-core:ComputerEquipment 2023-12-31 03680871 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 03680871 frs-core:FurnitureFittings 2024-12-31 03680871 frs-core:FurnitureFittings 2024-01-01 2024-12-31 03680871 frs-core:FurnitureFittings 2023-12-31 03680871 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 03680871 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 03680871 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 03680871 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 03680871 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03680871 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 03680871 frs-core:MotorVehicles 2024-12-31 03680871 frs-core:MotorVehicles 2024-01-01 2024-12-31 03680871 frs-core:MotorVehicles 2023-12-31 03680871 frs-core:OtherResidualIntangibleAssets 2024-12-31 03680871 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 03680871 frs-core:OtherResidualIntangibleAssets 2023-12-31 03680871 frs-core:PlantMachinery 2024-12-31 03680871 frs-core:PlantMachinery 2024-01-01 2024-12-31 03680871 frs-core:PlantMachinery 2023-12-31 03680871 frs-core:ShareCapital 2024-12-31 03680871 frs-core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03680871 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 03680871 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03680871 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 03680871 frs-bus:SmallEntities 2024-01-01 2024-12-31 03680871 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03680871 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03680871 frs-core:ListedExchangeTraded 2024-12-31 03680871 frs-core:ListedExchangeTraded 2023-12-31 03680871 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 03680871 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-12-31 03680871 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 03680871 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-12-31 03680871 frs-bus:Director1 2024-01-01 2024-12-31 03680871 frs-bus:Director2 2024-01-01 2024-12-31 03680871 frs-bus:Director2 2023-12-31 03680871 frs-bus:Director2 2024-12-31 03680871 frs-countries:EnglandWales 2024-01-01 2024-12-31 03680871 2022-12-31 03680871 2023-12-31 03680871 2023-01-01 2023-12-31 03680871 frs-core:CurrentFinancialInstruments 2023-12-31 03680871 frs-core:ShareCapital 2022-12-31 03680871 frs-core:ShareCapital 2023-12-31 03680871 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03680871 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-12-31 03680871 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 03680871
Multibrands International Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 03680871
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 970,469 427,979
Tangible Assets 5 446,511 470,157
Investments 6 141,320 141,320
1,558,300 1,039,456
CURRENT ASSETS
Stocks 7 250,598 311,173
Debtors 8 2,886,981 1,948,572
Cash at bank and in hand 21,673 489,044
3,159,252 2,748,789
Creditors: Amounts Falling Due Within One Year 9 (1,592,295 ) (545,489 )
NET CURRENT ASSETS (LIABILITIES) 1,566,957 2,203,300
TOTAL ASSETS LESS CURRENT LIABILITIES 3,125,257 3,242,756
PROVISIONS FOR LIABILITIES
Provisions For Charges (838,318 ) (838,317 )
Deferred Taxation (11,291 ) (11,291 )
NET ASSETS 2,275,648 2,393,148
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account 2,275,646 2,393,146
SHAREHOLDERS' FUNDS 2,275,648 2,393,148
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
I F Hussain
Director
30/09/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2023 2 2,519,211 2,519,213
Profit for the year and total comprehensive income - 23,935 23,935
Dividends paid - (150,000) (150,000)
As at 31 December 2023 and 1 January 2024 2 2,393,146 2,393,148
Profit for the year and total comprehensive income - 32,500 32,500
Dividends paid - (150,000) (150,000)
As at 31 December 2024 2 2,275,646 2,275,648
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Multibrands International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03680871 . The registered office is Unit A, 82 James Carter Road, Mildenhall, IP28 7DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are costs related to the development of personal electronic transport devices. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NA
Leasehold NA
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.6. Leasing and Hire Purchase Contracts
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
2.7. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 4
Page 5
2.8. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of
hedging instruments in a designated hedging relationship.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 28)
15 28
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 427,979
Additions 542,490
As at 31 December 2024 970,469
Net Book Value
As at 31 December 2024 970,469
As at 1 January 2024 427,979
Page 5
Page 6
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2024 519,061 10,200 72,018 40,297
Additions - - - -
As at 31 December 2024 519,061 10,200 72,018 40,297
Depreciation
As at 1 January 2024 94,065 10,200 62,907 17,630
Provided during the period 10,383 - 2,276 5,667
As at 31 December 2024 104,448 10,200 65,183 23,297
Net Book Value
As at 31 December 2024 414,613 - 6,835 17,000
As at 1 January 2024 424,996 - 9,111 22,667
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 51,034 142,533 835,143
Additions - 2,332 2,332
As at 31 December 2024 51,034 144,865 837,475
Depreciation
As at 1 January 2024 42,364 137,820 364,986
Provided during the period 2,166 5,486 25,978
As at 31 December 2024 44,530 143,306 390,964
Net Book Value
As at 31 December 2024 6,504 1,559 446,511
As at 1 January 2024 8,670 4,713 470,157
6. Investments
Listed
£
Cost or Valuation
As at 1 January 2024 141,320
As at 31 December 2024 141,320
Provision
As at 1 January 2024 -
As at 31 December 2024 -
...CONTINUED
Page 6
Page 7
Net Book Value
As at 31 December 2024 141,320
As at 1 January 2024 141,320
7. Stocks
2024 2023
£ £
Stock 250,598 311,173
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,475,126 1,402,113
Other debtors 411,855 544,741
2,886,981 1,946,854
Due after more than one year
Other debtors - 1,718
2,886,981 1,948,572
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,332,256 311,594
Bank loans and overdrafts 61,320 10,570
Amounts owed to group undertakings 5,959 5,959
Other creditors 180,378 181,019
Taxation and social security 12,382 36,347
1,592,295 545,489
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mrs Rizwana Hussain 398,936 - - - -
The above loan is unsecured, interest free and repayable on demand.
Page 7