| Multithread Consultants Limited |
| Registered number: |
02274702 |
| Balance Sheet |
| as at 30 June 2019 |
|
| Notes |
|
|
2019 |
|
|
2018 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
68,745 |
|
|
55,023 |
|
| Current assets |
| Stocks |
|
|
2,326,679 |
|
|
2,301,989 |
| Debtors |
3 |
|
326,669 |
|
|
242,724 |
| Cash at bank and in hand |
|
|
724,858 |
|
|
534,742 |
|
|
|
3,378,206 |
|
|
3,079,455 |
|
| Creditors: amounts falling due within one year |
4 |
|
(542,054) |
|
|
(1,015,190) |
|
| Net current assets |
|
|
|
2,836,152 |
|
|
2,064,265 |
|
| Total assets less current liabilities |
|
|
|
2,904,897 |
|
|
2,119,288 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(233,701) |
|
|
- |
|
| Provisions for liabilities |
|
|
|
(12,592) |
|
|
(9,985) |
|
|
| Net assets |
|
|
|
2,658,604 |
|
|
2,109,303 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
2,658,504 |
|
|
2,109,203 |
|
| Shareholders' funds |
|
|
|
2,658,604 |
|
|
2,109,303 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| R F Gould |
| Director |
| Approved by the board on 5 November 2019 |
|
| Multithread Consultants Limited |
| Notes to the Accounts |
| for the year ended 30 June 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold improvements |
10% straight line |
|
Fixtures and fittings |
25% reducing balance |
|
Equipment |
20% reducing balance |
|
|
Financial instruments |
|
Derivatives are measured at fair value, with any changes recognised in profit and loss. Financial instruments are classified and accounted for, according to the sustance of the contractural arrangement, as either financial assets, financial liabilities or equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
|
|
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. |
|
|
Deferred tax |
|
Provision is made to take account of timing diferences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences using tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
|
|
Operating lease agreements |
|
Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against profits on a straight line basis over the period of the lease. |
|
|
Foreign currency translation |
|
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction or average rates. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. |
|
|
Pensions |
|
The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. |
|
|
| 2 |
Tangible fixed assets |
|
|
Short leasehold property |
|
Fixtures and fittings |
|
Equipment |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2018 |
19,497 |
|
63,766 |
|
102,750 |
|
186,013 |
|
Additions |
16,550 |
|
4,472 |
|
8,576 |
|
29,598 |
|
At 30 June 2019 |
36,047 |
|
68,238 |
|
111,326 |
|
215,611 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2018 |
13,206 |
|
43,529 |
|
74,255 |
|
130,990 |
|
Charge for the year |
2,285 |
|
6,180 |
|
7,411 |
|
15,876 |
|
At 30 June 2019 |
15,491 |
|
49,709 |
|
81,666 |
|
146,866 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2019 |
20,556 |
|
18,529 |
|
29,660 |
|
68,745 |
|
At 30 June 2018 |
6,291 |
|
20,237 |
|
28,495 |
|
55,023 |
|
|
| 3 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
313,631 |
|
220,273 |
|
Other debtors |
13,038 |
|
22,451 |
|
|
|
|
|
|
326,669 |
|
242,724 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Bank loans and overdrafts |
68,448 |
|
1,750 |
|
Trade creditors |
281,419 |
|
696,690 |
|
Taxation and social security costs |
173,439 |
|
298,882 |
|
Other creditors |
18,748 |
|
17,868 |
|
|
|
|
|
|
542,054 |
|
1,015,190 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Bank loans |
233,701 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Multithread Consultants Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
8 Williamsport Way |
|
Lion Barn Estate |
|
Needham Market |
|
Suffolk |
|
IP6 8RW |
