Multex Chemicals Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 4930965

Multex Chemicals Limited

Filleted Unaudited Financial Statements

31 January 2025

Multex Chemicals Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		556,085		524,810

Current assets

Stocks		275,152	177,778
Debtors	7	724,538	583,402
Cash at bank and in hand		140,971	166,996
		------------	---------
		1,140,661	928,176

Creditors: amounts falling due within one year	8	178,976		156,625
		------------		---------
Net current assets			961,685		771,551
			------------		------------
Total assets less current liabilities			1,517,770		1,296,361

Creditors: amounts falling due after more than one year	9	243,291	248,170
		------------	------------
Net assets		1,274,479	1,048,191
		------------	------------

Capital and reserves

Called up share capital	10	1,000	1,000
Revaluation reserve		255,375	234,000
Profit and loss account		1,018,104	813,191
		------------	------------
Shareholders funds		1,274,479	1,048,191
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Multex Chemicals Limited

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:

Mr G Singh
Director

Company registration number: 4930965

Multex Chemicals Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Multex House, Cannon Street, Hull, East Yorkshire, HU2 0AB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: Disclosures in respect of each class of share capital have not been presented. No cash flow statement has been presented for the company. Disclosures in respect of financial instruments have not been presented. Disclosures in respect of share-based payments have not been presented. No disclosure has been given for the aggregate remuneration of key management personnel.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less, or to receive more tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 13 (2024: 9 ).

5. Taxation on ordinary activities

Major components of tax income

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	–	( 4,839)
	----	-------
Taxation on ordinary activities	–	( 4,839)
	----	-------

6. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost or valuation
At 1 February 2024	475,000	111,647	13,743	22,305	622,695
Additions	–	29,802	–	–	29,802
Revaluations	21,375	–	–	–	21,375
	---------	---------	--------	--------	---------
At 31 January 2025	496,375	141,449	13,743	22,305	673,872
	---------	---------	--------	--------	---------
Depreciation
At 1 February 2024	–	64,698	12,758	20,429	97,885
Charge for the year	–	19,187	246	469	19,902
	---------	---------	--------	--------	---------
At 31 January 2025	–	83,885	13,004	20,898	117,787
	---------	---------	--------	--------	---------
Carrying amount
At 31 January 2025	496,375	57,564	739	1,407	556,085
	---------	---------	--------	--------	---------
At 31 January 2024	475,000	46,949	985	1,876	524,810
	---------	---------	--------	--------	---------

Tangible assets held at valuation

The director has reviewed the valuation of the freehold property at 31 January 2024 using information such as recent market data for similar properties in the same area and has concluded that the fair value of the freehold property at this date was £475,000. The historical cost of the freehold property was £241,000.

7. Debtors

	2025	2024
	£	£
Trade debtors	142,157	176,688
Amounts owed by group undertakings	566,676	366,677
Prepayments and accrued income	15,705	10,037
Other debtors	–	30,000
	---------	---------
	724,538	583,402
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	4,734	4,219
Trade creditors	145,891	108,544
Accruals and deferred income	9,097	11,829
Social security and other taxes	12,003	29,791
Director loan accounts	5,071	2,241
Amounts owed to associated companies	–	1
Other creditors	2,180	–
	---------	---------
	178,976	156,625
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	243,291	248,170
	---------	---------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

11. Director's advances, credits and guarantees

During the year there were no director's advances, credits and guarantees.

12. Related party transactions

No disclosures are necessary as 100% of the voting rights in the company are controlled within the group.

13. Controlling party

The company's immediate parent undertaking and controlling related party is Crest Holding Limited, a company registered in England. The parent company is jointly controlled by its shareholders, G Singh and T Kaur.