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REGISTERED NUMBER: 03464488 (England and Wales)












Financial Statements

for the Year Ended 28 February 2023

for

Designa Axess UK Limited

Previously known as
Designa (UK) Limited

Designa Axess UK Limited (Registered number: 03464488)
previously known as Designa (UK) Limited






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Designa Axess UK Limited
previously known as Designa (UK) Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: A Jones
O Suter





SECRETARY: A Jones





REGISTERED OFFICE: Unit 11 Windmill Business Village
Brooklands Close
Sunbury - on - Thames
Middlesex
TW16 7DY





REGISTERED NUMBER: 03464488 (England and Wales)





AUDITORS: PB Associates
Chartered Accountants and Chartered Tax Advisers
2 Castle Business Village
Station Road
Hampton
Middlesex
TW12 2BX

Designa Axess UK Limited (Registered number: 03464488)
previously known as Designa (UK) Limited

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,711 44,722

CURRENT ASSETS
Stocks 5 305,304 240,738
Debtors 6 717,136 591,215
Cash at bank and in hand 96,633 120,373
1,119,073 952,326
CREDITORS
Amounts falling due within one year 7 1,124,271 879,242
NET CURRENT (LIABILITIES)/ASSETS (5,198 ) 73,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,513

117,806

CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Retained earnings 9 (15,487 ) 17,806
SHAREHOLDERS' FUNDS 84,513 117,806

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 31 May 2023 and were signed on its behalf by:





A Jones - Director


Designa Axess UK Limited (Registered number: 03464488)
previously known as Designa (UK) Limited

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Designa Axess 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding 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 - 25% on reducing balance
Motor vehicles - 33% on cost
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Designa Axess UK Limited (Registered number: 03464488)
previously known as Designa (UK) Limited

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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.

Going concern
At the time of approving the financial statements, the directors have undertaken an assessment of the adequacy of the resources available to the company and have taken into account the impact of the coronavirus on the company as well as the expected support to businesses available from the government measures in place through the period of disruption caused by coronavirus. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and accordingly continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

Designa Axess UK Limited (Registered number: 03464488)
previously known as Designa (UK) Limited

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 66,583 174,917 21,629 263,129
Additions 40,292 38,337 10,022 88,651
At 28 February 2023 106,875 213,254 31,651 351,780
DEPRECIATION
At 1 March 2022 65,455 132,524 20,428 218,407
Charge for year 8,612 34,000 1,050 43,662
At 28 February 2023 74,067 166,524 21,478 262,069
NET BOOK VALUE
At 28 February 2023 32,808 46,730 10,173 89,711
At 28 February 2022 1,128 42,393 1,201 44,722

5. STOCKS
28.2.23 28.2.22
£    £   
Stocks 305,304 240,738

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 573,617 452,914
Other debtors 741 741
Deferred tax asset 75,450 61,940
Prepayments 67,328 75,620
717,136 591,215

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 15,160 36,899
Amounts owed to group undertakings 417,673 371,257
Corporation tax 11 11
Social security and other taxes 135,629 89,573
Accruals and deferred income 555,798 381,502
1,124,271 879,242

Designa Axess UK Limited (Registered number: 03464488)
previously known as Designa (UK) Limited

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100,000 Ordinary £1 100,000 100,000

9. RESERVES
Retained
earnings
£   

At 1 March 2022 17,806
Deficit for the year (33,293 )
At 28 February 2023 (15,487 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ashfaq Sharif BA FCA CTA (Senior Statutory Auditor)
for and on behalf of PB Associates

11. ULTIMATE CONTROLLING PARTY

The company is wholly-owned subsidiary of MTB Beteiligungen AG which is the ultimate parent company and is incorporated in Austria.