Most existing semi-analytical models to analyse multistable structures are based on the principle of minimum potential energy, which inherently does not satisfy the in-plane equilibrium equations in a strong sense. Although such models predict the multistable shapes with reasonable accuracy, there is a significant discrepancy in predicting the snap-through behaviour when compared to the finite element (FE) or experimental results. In this work, a refined analytical model is derived to analyse a bistable cross-ply elliptical disc using Föppl von Kármán kinematics. The Rayleigh–Ritz approach with a decoupled energy formulation is used, where the stretching and bending energies are separated using the semi-inverse constitutive equation. The in-plane stress resultants are expressed in terms of curvatures using the compatibility and the in-plane equilibrium equations. A closed-form solution for the curvatures is derived to predict the cured bistable shapes of elliptical laminates. A layer of macro fibre composite actuator is added to trigger the snap-through between the stable shapes. Consequently, the critical voltage at which the snap-through occurs is predicted using the analytical model. The model is further extended to square plates, where the solutions of the differential equations emanating from the compatibility and in-plane equilibrium equations are obtained by converting the resulting differential equations into the form of standard FE elasticity problem. The in-plane stress resultants for the square plates are calculated by numerically solving the resulting elasticity problem using a standard FE discretization approach. The solutions are further compared with previous experimental studies and the results from a fully geometrically non-linear FE model.