Multideal Limited - Period Ending 2017-04-30

Registration number: 07219518

Multideal Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2017

Multideal Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 7

Multideal Limited

Company Information

Director

R Kellaway

Registered office

50 Firs Road Edwalton Nottingham NG12 4BX

Bankers

Barclays Bank plc Nottingham High Street Leicester LE87 2BB

Accountants

Ashgates Corporate Services Limited 5 Prospect Place Millennium Way Pride Park Derby DE24 8HG

Page 1

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Multideal Limited
for the Year Ended 30 April 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Multideal Limited for the year ended 30 April 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Multideal Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Multideal Limited and state those matters that we have agreed to state to the Board of Directors of Multideal Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Multideal Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Multideal Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Multideal Limited. You consider that Multideal Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Multideal Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................................................

Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG

Date:.............................

Page 2

Multideal Limited

(Registration number: 07219518)
Balance Sheet as at 30 April 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	1	1
Current assets
Debtors	5	44,105	21,291
Cash at bank and in hand		102	29
		44,207	21,320
Creditors: Amounts falling due within one year	6	(19,583)	(20,086)
Net current assets		24,624	1,234
Net assets		24,625	1,235
Capital and reserves
Called up share capital		1	1
Profit and loss account		24,624	1,234
Total equity		24,625	1,235

For the financial year ending 30 April 2017 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 January 2018
 

.........................................

R Kellaway

Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Multideal Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

1	General information

The company is a private company limited by share capital incorporated in England.

The address of the registered office is given in the company information on page 1 of the financial statements.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 4

Multideal Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

4	Tangible assets

	Office equipment  £	Total £
Cost or valuation
At 1 May 2016	2,032	2,032
At 30 April 2017	2,032	2,032
Depreciation
At 1 May 2016	2,031	2,031
At 30 April 2017	2,031	2,031
Carrying amount
At 30 April 2017	1	1
At 30 April 2016	1	1

Page 5

Multideal Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

5

Debtors

	2017 £	2016 £
Trade debtors	28,500	9,500
Other debtors	15,605	11,791
	44,105	21,291

6

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		1,849	1,273
Corporation tax		15,884	17,264
Other creditors		1,850	1,549
		19,583	20,086

7	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary share of £1 each	1	1	1	1

8	Related party transactions

Loans to directors

	2017 £
At start of period	(9,498)
Advanced	(27,017)
Repaid	23,203
At end of period	(13,312)

	2016 £
At start of period	(1,117)
Advanced	(26,580)
Repaid	18,199
At end of period	(9,498)

Page 6

Multideal Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

9	Transition to FRS 102

The financial statements are the company’s first financial statements that comply with FRS102. The date of transition to FRS102 was 1 May 2015.

The transition to FRS102 has not resulted in any changes between the amounts prepared previously under UK GAAP and those presented in compliance with FRS 102

Page 7