Multisys Computers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02607510 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Multisys Computers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H Keable

P Holmes

SECRETARY:

H Keable

REGISTERED OFFICE:

Byron Street Works

Buxton

Derbyshire

SK17 6NU

REGISTERED NUMBER:

02607510 (England and Wales)

ACCOUNTANTS:

Guthrie Accountancy Services Ltd

Unit 1

11 Eagle Parade

Buxton

Derbyshire

SK17 6EQ

FIXED ASSETS

Tangible assets

4

5,471

6,944

CURRENT ASSETS

Stocks

4,000

2,000

Debtors

5

38,100

53,466

Cash at bank and in hand

80,544

43,005

122,644

98,471

CREDITORS

Amounts falling due within one year

6

32,998

40,551

NET CURRENT ASSETS

89,646

57,920

TOTAL ASSETS LESS CURRENT LIABILITIES

95,117

64,864

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

85,117

54,864

SHAREHOLDERS' FUNDS

95,117

64,864

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 October 2019 and were signed on its behalf by:

P Holmes - Director

1.	STATUTORY INFORMATION

Multisys Computers 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.	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.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax and support contracts which are

taken to the profit and loss account equally over the life of the contract.

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

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2018

and 30 September 2019

1,306

5,450

15,730

22,486

DEPRECIATION

At 1 October 2018

692

3,725

11,125

15,542

Charge for year

122

431

920

1,473

At 30 September 2019

814

4,156

12,045

17,015

NET BOOK VALUE

At 30 September 2019

492

1,294

3,685

5,471

At 30 September 2018

614

1,725

4,605

6,944

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

12,277

27,430

Other debtors

25,823

26,036

38,100

53,466

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade creditors

1,594

646

Taxation and social security

11,246

19,102

Other creditors

20,158

20,803

32,998

40,551