Multimetal Stockholders Ltd Filleted accounts for Companies House (small and micro)

MULTI METAL STOCKHOLDERS LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2018-12-01 Sage Accounts Production Advanced 2018 - FRS 15,000 15,000 xbrli:pure xbrli:shares iso4217:GBP 04570310 2018-12-01 2019-11-30 04570310 2019-11-30 04570310 2018-11-30 04570310 2017-12-01 2018-11-30 04570310 2018-11-30 04570310 core:NetGoodwill 2018-12-01 2019-11-30 04570310 core:PlantMachinery 2018-12-01 2019-11-30 04570310 core:FurnitureFittings 2018-12-01 2019-11-30 04570310 core:MotorVehicles 2018-12-01 2019-11-30 04570310 bus:Director1 2018-12-01 2019-11-30 04570310 core:NetGoodwill 2019-11-30 04570310 core:PlantMachinery 2018-11-30 04570310 core:FurnitureFittings 2018-11-30 04570310 core:MotorVehicles 2018-11-30 04570310 core:PlantMachinery 2019-11-30 04570310 core:FurnitureFittings 2019-11-30 04570310 core:MotorVehicles 2019-11-30 04570310 core:WithinOneYear 2019-11-30 04570310 core:WithinOneYear 2018-11-30 04570310 core:ShareCapital 2019-11-30 04570310 core:ShareCapital 2018-11-30 04570310 core:RetainedEarningsAccumulatedLosses 2019-11-30 04570310 core:RetainedEarningsAccumulatedLosses 2018-11-30 04570310 core:PlantMachinery 2018-11-30 04570310 core:FurnitureFittings 2018-11-30 04570310 core:MotorVehicles 2018-11-30 04570310 bus:SmallEntities 2018-12-01 2019-11-30 04570310 bus:AuditExempt-NoAccountantsReport 2018-12-01 2019-11-30 04570310 bus:FullAccounts 2018-12-01 2019-11-30 04570310 bus:SmallCompaniesRegimeForAccounts 2018-12-01 2019-11-30 04570310 bus:PrivateLimitedCompanyLtd 2018-12-01 2019-11-30 04570310 core:ComputerEquipment 2019-11-30 04570310 core:ComputerEquipment 2018-11-30 04570310 core:ComputerEquipment 2018-12-01 2019-11-30

COMPANY REGISTRATION NUMBER: 04570310

Multimetal Stockholders Ltd

Filleted Unaudited Financial Statements

30 November 2019

Multimetal Stockholders Ltd

Statement of Financial Position

30 November 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	6		9,960	14,517

Current assets

Stocks		320	400
Debtors	7	76,333	79,768
Cash at bank and in hand		19,921	37,628
		--------	---------
		96,574	117,796

Creditors: amounts falling due within one year	8	82,680		99,122
		--------		---------
Net current assets			13,894	18,674
			--------	--------
Total assets less current liabilities			23,854	33,191

Provisions

Taxation including deferred tax	679	679
	--------	--------
Net assets	23,175	32,512
	--------	--------

Multimetal Stockholders Ltd

Statement of Financial Position (continued)

30 November 2019

	2019		2018
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	23,075	32,412
	--------	--------
Shareholders funds	23,175	32,512
	--------	--------

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 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 30th November 2019 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 .

These financial statements were approved by the board of directors and authorised for issue on 7 May 2020 , and are signed on behalf of the board by:

Mr S Bulka
Director

Company registration number: 04570310

Multimetal Stockholders Ltd

Notes to the Financial Statements

Year ended 30th November 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2a, Ssndy Court, Moss Industrial Estate, Leigh, WN7 3PT.

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.

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

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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 & machinery	-	25% reducing balance
Computer equipment	-	25 % reducing balance
Motor vehicles	-	20% straight line
Office equipment	-	10% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2018: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1st December 2018 and 30th November 2019	15,000
	--------
Amortisation
At 1st December 2018 and 30th November 2019	15,000
	--------
Carrying amount
At 30th November 2019	–
	--------
At 30th November 2018	–
	--------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1st December 2018 and 30th November 2019	2,197	5,349	21,250	3,263	32,059
	-------	-------	--------	-------	--------
Depreciation
At 1st December 2018	2,196	4,278	8,500	2,568	17,542
Charge for the year	–	217	4,250	90	4,557
	-------	-------	--------	-------	--------
At 30th November 2019	2,196	4,495	12,750	2,658	22,099
	-------	-------	--------	-------	--------
Carrying amount
At 30th November 2019	1	854	8,500	605	9,960
	-------	-------	--------	-------	--------
At 30th November 2018	1	1,071	12,750	695	14,517
	-------	-------	--------	-------	--------

7. Debtors

	2019	2018
	£	£
Trade debtors	76,333	79,768
	--------	--------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	71,958	78,456
Corporation tax	5,363	12,376
Social security and other taxes	5,352	7,477
Other creditors	7	813
	--------	--------
	82,680	99,122
	--------	--------

9. Director's advances, credits and guarantees

Included in other creditors are amounts owing to S.Bulka, the director, of£7 (2018 £14).

10. Related party transactions

The company was under the control of Mr S Bulka throughout the period. Mr S Bulka is the sole director and majority shareholder.