Company No:
Contents
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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230,500 | 250,000 | |||
Current assets | ||||
Cash at bank and in hand |
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4,884 | 60,521 | |||
Creditors | ||||
Amounts falling due within one year | 4 | (
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Net current (liabilities)/assets | (15,302) | 1,585 | ||
Total assets less current liabilities | 215,198 | 251,585 | ||
Creditors | ||||
Amounts falling due after more than one year | 5 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Multi Coating Systems Limited (registered number:
Craig Andrew ELLIOTT
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Multi Coating Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Other investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 October 2020 |
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Disposals | (
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At 30 September 2021 |
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Provisions for impairment | |||
At 01 October 2020 |
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At 30 September 2021 |
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Carrying value at 30 September 2021 |
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Carrying value at 30 September 2020 |
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2021 | 2020 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to directors |
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Other loans |
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Accruals |
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2021 | 2020 | ||
£ | £ | ||
Other loans |
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