REGISTERED NUMBER: 10467515 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

MULTAX LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Mizen

Mr J D McNab

REGISTERED OFFICE:

14 London Street

Andover

Hampshire

SP10 2PA

REGISTERED NUMBER:

10467515 (England and Wales)

ACCOUNTANTS:

Hysons

Chartered Accountants

14 London Street

Andover

Hampshire

SP10 2PA

FIXED ASSETS

Tangible assets

5

3,483,311

2,805,586

CURRENT ASSETS

Stocks

160,909

95,000

Debtors

6

1,212,491

1,212,118

Cash at bank

762,875

267,607

2,136,275

1,574,725

CREDITORS

Amounts falling due within one year

7

1,585,208

1,407,912

NET CURRENT ASSETS

551,067

166,813

TOTAL ASSETS LESS CURRENT LIABILITIES

4,034,378

2,972,399

CREDITORS

Amounts falling due after more than one year

8

(1,320,914

)

(1,181,496

)

PROVISIONS FOR LIABILITIES

(683,066

)

(539,710

)

NET ASSETS

2,030,398

1,251,193

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

2,030,296

1,251,091

2,030,398

1,251,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 August 2026 and were signed on its behalf by:

Mr A Mizen - Director

Mr J D McNab - Director

1.	STATUTORY INFORMATION

Multax 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Long leasehold

-

1% on cost

Plant and machinery

-

10% on cost and 10% on reducing balance

Fixtures and fittings

-

25% on reducing balance and 20% on reducing balance

Motor vehicles

-

25% on cost

Office and computer equipment

-

33% on cost

Stocks

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 items.

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 Statement of Income and Retained Earnings, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2024 - 44 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 December 2024

627,918

3,320,252

54,883

Additions

-

1,134,056

954

Disposals

-

(55,700

)

-

At 30 November 2025

627,918

4,398,608

55,837

DEPRECIATION

At 1 December 2024

32,368

1,203,913

36,419

Charge for year

6,279

389,904

4,688

Eliminated on disposal

-

(28,387

)

-

At 30 November 2025

38,647

1,565,430

41,107

NET BOOK VALUE

At 30 November 2025

589,271

2,833,178

14,730

At 30 November 2024

595,550

2,116,339

18,464

Office

and

Motor

computer

vehicles

equipment

Totals

£

£

£

COST

At 1 December 2024

148,990

56,606

4,208,649

Additions

-

11,087

1,146,097

Disposals

-

-

(55,700

)

At 30 November 2025

148,990

67,693

5,299,046

DEPRECIATION

At 1 December 2024

80,240

50,123

1,403,063

Charge for year

34,375

5,813

441,059

Eliminated on disposal

-

-

(28,387

)

At 30 November 2025

114,615

55,936

1,815,735

NET BOOK VALUE

At 30 November 2025

34,375

11,757

3,483,311

At 30 November 2024

68,750

6,483

2,805,586

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 December 2024

2,449,000

137,500

2,586,500

Additions

819,787

-

819,787

Transfer to ownership

(393,300

)

-

(393,300

)

At 30 November 2025

2,875,487

137,500

3,012,987

DEPRECIATION

At 1 December 2024

812,720

68,750

881,470

Charge for year

304,798

34,375

339,173

Transfer to ownership

(208,007

)

-

(208,007

)

At 30 November 2025

909,511

103,125

1,012,636

NET BOOK VALUE

At 30 November 2025

1,965,976

34,375

2,000,351

At 30 November 2024

1,636,280

68,750

1,705,030

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,197,441

1,198,622

Other debtors

5,160

3,812

Prepayments and accrued income

9,890

9,684

1,212,491

1,212,118

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

65,367

107,754

Hire purchase contracts

499,698

396,225

Trade creditors

738,082

431,815

Tax

24,925

198,474

Social security and other taxes

65,652

40,015

Pensions creditor

7,003

6,277

VAT

159,791

202,126

Directors' current accounts

7,684

5,581

Accruals and deferred income

17,006

19,645

1,585,208

1,407,912

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

107,754

107,754

Bank loans - 2-5 years

87,004

123,370

Bank loans more 5 yr by instal

112,772

121,635

Hire purchase contracts

1,013,384

828,737

1,320,914

1,181,496

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

112,772

121,635

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

372,897

460,513

Hire purchase contracts

1,513,082

1,224,962

1,885,979

1,685,475