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REGISTERED NUMBER: 03625045 (England and Wales)















Unaudited Financial Statements For The Year Ended 31st December 2022

for

Mid Ocean Brands UK Limited

Mid Ocean Brands UK Limited (Registered number: 03625045)






Contents of the Financial Statements
For The Year Ended 31st December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mid Ocean Brands UK Limited

Company Information
For The Year Ended 31st December 2022







DIRECTORS: Mid Ocean Brands B.V.
S J Gibson





SECRETARY: Mid Ocean Brands B.V.





REGISTERED OFFICE: 1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX





REGISTERED NUMBER: 03625045 (England and Wales)





ACCOUNTANTS: Dua & Co. Limited
1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX

Mid Ocean Brands UK Limited (Registered number: 03625045)

Balance Sheet
31st December 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Debtors 5 450,279 92,515
Cash at bank 9,867 282
460,146 92,797
CREDITORS
Amounts falling due within one year 6 17,173 11,366
NET CURRENT ASSETS 442,973 81,431
TOTAL ASSETS LESS CURRENT LIABILITIES 442,973 81,431

CREDITORS
Amounts falling due after more than one year 7 - 50,345
NET ASSETS 442,973 31,086

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 442,969 31,082
SHAREHOLDERS' FUNDS 442,973 31,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2023 and were signed on its behalf by:





Mid Ocean Brands B.V. - Director


Mid Ocean Brands UK Limited (Registered number: 03625045)

Notes to the Financial Statements
For The Year Ended 31st December 2022

1. STATUTORY INFORMATION

Mid Ocean Brands UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the commission received or receivable, exclusing discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Foreign currency
Transaction in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.

Operating leases
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 11 ) .

Mid Ocean Brands UK Limited (Registered number: 03625045)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2022

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1st January 2022
and 31st December 2022 49,561
DEPRECIATION
At 1st January 2022
and 31st December 2022 49,561
NET BOOK VALUE
At 31st December 2022 -

5. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Other debtors 79,440 92,515

Amounts falling due after more than one year:
Amounts owed by group undertakings 370,839 -

Aggregate amounts 450,279 92,515

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 7,593 1,094
Taxation and social security 4,883 4,048
Other creditors 4,697 6,224
17,173 11,366

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings - 50,345

8. DEFERRED TAX
£   
Balance at 1st January 2022 (85,500 )
Provided during year 12,486
Balance at 31st December 2022 (73,014 )

9. RELATED PARTY DISCLOSURES

As a wholly owned subsidiary of the Mid Ocean Group B.V., the company is exempt from the requirements of FRS 8 to disclose transactions with other members of the group headed by Mid Ocean Group B.V.