MULTI-WALL SYSTEMS LIMITED - Abbreviated accounts 16.1

REGISTERED NUMBER: 07019887 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

MULTI-WALL SYSTEMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Hendrik Jan Klooster

REGISTERED OFFICE:

Minerva House

63-77 Hornby Street

BURY

Lancashire

BL9 5BW

REGISTERED NUMBER:

07019887 (England and Wales)

ACCOUNTANTS:

G & C Professionals Limited

trading as Graham & Company

Chartered Certified Accountants

& Business Advisers

Cleveland House

1-10 Sitwell Street

KINGSTON UPON HULL

East Yorkshire

HU8 7BE

FIXED ASSETS

Tangible assets

2

21

21

CURRENT ASSETS

Debtors

109,875

115,936

Cash at bank

3,476

2,167

113,351

118,103

CREDITORS

Amounts falling due within one year

140,007

137,913

NET CURRENT LIABILITIES

(26,656

)

(19,810

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(26,635

)

(19,789

)

CAPITAL AND RESERVES

Called up share capital

3

50,000

50,000

Profit and loss account

(76,635

)

(69,789

)

SHAREHOLDERS' FUNDS

(26,635

)

(19,789

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 7 September 2016 and were signed by:

Hendrik Jan Klooster - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which assumes the continued

support of the parent company as described in the note for Creditors : Amounts falling due within one

year.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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

-

20% on cost

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

17,126

DEPRECIATION

At 1 January 2015

and 31 December 2015

17,105

NET BOOK VALUE

At 31 December 2015

21

At 31 December 2014

21

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

50,000

Ordinary

£1

50,000

50,000

4.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Multiwal BV, a company incorporated in the

Netherlands.

5.	RELATED PARTY DISCLOSURES

6.	CREDITORS : AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Amounts owed to group undertakings relates to Multiwal BV, the parent company, £133,924 (2014 -

£127,033). There are no specific terms with regard to interest charges or repayment of this loan. The

parent company has indicated that the above funds will not be withdrawn until the company achieves

a solvent financial position.