MULTIBUS LIMITED

Company Registration Number:
11818551 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2025

Period of accounts

Start date: 01 February 2024

End date: 31 January 2025

MULTIBUS LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2025

Balance sheet
Notes

MULTIBUS LIMITED

Balance sheet

As at 31 January 2025


Notes
2025
2024


£
£
Fixed assets
Tangible assets: 3 70,413 38,836
Total fixed assets: 70,413 38,836
Current assets
Creditors: amounts falling due within one year: 4 (131,283) (86,077)
Net current assets (liabilities): (131,283) (86,077)
Total assets less current liabilities: (60,870) (47,241)
Total net assets (liabilities): (60,870) (47,241)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (60,970) (47,341)
Shareholders funds: (60,870) (47,241)

The notes form part of these financial statements

MULTIBUS LIMITED

Balance sheet statements

For the year ending 31 January 2025 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 October 2025
and signed on behalf of the board by:

Name: Mrs L A O'Halloran
Status: Director

The notes form part of these financial statements

MULTIBUS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2025

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Other tangible fixed assets are fixed assets on which a specific research and development project is being undertaken. Regardless of the outcome of the project it is considered that the assets will be capable of being utilised and will have a value to the company. It is not possible to determine if any impairment loss is appropriate until the project has been developed further. The director will review the position at each year end.

Intangible fixed assets and amortisation policy

Intellectual property registration The costs of registering Intellectual Property Rights and appropriate patents relating to the assets under development in various locations worldwide are written off in the year in which they are incurred.

Other accounting policies

Taxation Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

MULTIBUS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2025

2. Employees

2025 2024
Average number of employees during the period 1 1

MULTIBUS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2025

3. Tangible Assets

Total
Cost £
At 01 February 2024 38,836
Additions 31,577
At 31 January 2025 70,413
Net book value
At 31 January 2025 70,413
At 31 January 2024 38,836

Other fixed assets consists of assets on which a specific research and development project is being undertaken. The assets include a test bed and research platform to progress development of mechanisms that will improve the versatility of the hybrid bus and pure battery operated vehicles. Also included is a proving rig for the electrical contactor attached to the vehicle to utilise overhead catenary.

MULTIBUS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2025

4. Creditors: amounts falling due within one year note

Other creditors 2025 £130,983 2024 £85,490 Accruals and deferred income 2025 £300 2024 £630 Totals 2025 £131,283 2024 £86,120

MULTIBUS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2025

5. Related party transactions

Name of the related party: Mr T P O'Halloran
Relationship:
Director
Description of the Transaction: At the year end the company owed £130,983 (2024 - £85,490) to the director, Mr T P O'Halloran. No interest is paid on the loan and there are no formal repayment terms. This amount is included in other creditors.
£
Balance at 01 February 2024 85,490
Balance at 31 January 2025 130,983

MULTIBUS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2025

6. Post balance sheet events

The sole director and driving force behind the company's development project, Mr T P O'Halloran, died after the year end. His widow has been appointed director and a decision has been made to cease the project. It is considered that none of the costs incurred on development of a prototype and patent registration have a value.