MISS GROUP LIMITED

Company Registration Number:
10799624 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

MISS GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

MISS GROUP LIMITED

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal activities of the company

The principal activity of the company is the provision of web hosting, domain names and on-line business services.



Directors

The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022

Fredrik Björklund
Mark Kerswell


The director shown below has held office during the period of
1 January 2022 to 12 April 2022

Mattias Kaneteg


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
12 April 2024

And signed on behalf of the board by:
Name: Mark Kerswell
Status: Director

MISS GROUP LIMITED

Profit And Loss Account

for the Period Ended 31 December 2022

2022 2021


£

£
Turnover: 1,222,179 1,209,737
Cost of sales: ( 383,848 ) ( 349,996 )
Gross profit(or loss): 838,331 859,741
Administrative expenses: ( 589,309 ) ( 540,397 )
Operating profit(or loss): 249,022 319,344
Interest receivable and similar income: 0 22,507
Interest payable and similar charges: ( 104,454 ) ( 146,720 )
Profit(or loss) before tax: 144,568 195,131
Tax: ( 79,999 ) ( 82,265 )
Profit(or loss) for the financial year: 64,569 112,866

MISS GROUP LIMITED

Balance sheet

As at 31 December 2022

Notes 2022 2021


£

£
Fixed assets
Intangible assets: 3 2,124,295 2,400,287
Tangible assets: 4 33,035 33,704
Total fixed assets: 2,157,330 2,433,991
Current assets
Debtors: 5 67,453 577,913
Cash at bank and in hand: 156,170 128,750
Total current assets: 223,623 706,663
Creditors: amounts falling due within one year: 6 ( 1,934,451 ) ( 2,758,721 )
Net current assets (liabilities): (1,710,828) (2,052,058)
Total assets less current liabilities: 446,502 381,933
Provision for liabilities: ( 188,895 ) ( 188,895 )
Total net assets (liabilities): 257,607 193,038
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 257,507 192,938
Total Shareholders' funds: 257,607 193,038

The notes form part of these financial statements

MISS GROUP LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 12 April 2024
and signed on behalf of the board by:

Name: Mark Kerswell
Status: Director

The notes form part of these financial statements

MISS GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the value of web hosting, domain and on-line business services provided. Turnover across all income categories are deferred and recognised evenly over the period of the respective contract term. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    Tangible fixed assets depreciation policy

    Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.Depreciation is provided on the following basis:Computer equipment - 3 to 5 yearsThe assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

    Intangible fixed assets amortisation policy

    GoodwillGoodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.Other intangible assetsIntangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.Intangible assets are amortised on a straight line basis over their useful economic life.The estimated useful lives range as follows:Development costs - 2 yearsGoodwill - 10 yearsCustomer list - 8 yearsBrand - 15 years

    Other accounting policies

    Operating lease agreementsWhere substantially all of the risks and rewards incidental to ownership are not transferred to the Company, rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the period of the lease. The aggregate benefit of lease incentives is recognised as a reduction of the rental expense over the lease term on a straight-line basis.Current and deferred taxationThe tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.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 income.Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position, except that:the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determinedusing tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position.Interest incomeInterest income is recognised in the Statement of Comprehensive Income using the effective interest method.Finance costsInterest expenses are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.PensionsThe Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.Research and developmentIn the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generateprobable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to the Statement of Comprehensive Income on a straight line basis over their useful economic lives of 2 years from the date the associated software is launched for commercial retail. The expected useful economic life of development costs is estimated based on business plans which set out the development plan and time to market for the associated project. If it is not possible to distinguish between the research phase and the development phase of aninternal project, the expenditure is treated as if it were all incurred in the research phase only.DebtorsShort term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.Cash and cash equivalentsCash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.CreditorsShort term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.Financial instruments The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under thecontract.For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Statement of Financial Position date.Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MISS GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 4 3

    The directors received no remuneration during the year (2021 - £Nil).

MISS GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2022 1,863,927 860,320 2,724,247
Additions 20,271 20,271
Disposals
Revaluations
Transfers
At 31 December 2022 1,863,927 880,591 2,744,518
Amortisation
At 1 January 2022 185,516 138,444 323,960
Charge for year 186,392 109,871 296,263
On disposals
Other adjustments
At 31 December 2022 371,908 248,315 620,223
Net book value
At 31 December 2022 1,492,019 632,276 2,124,295
At 31 December 2021 1,678,411 721,876 2,400,287

MISS GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2022 35,534 35,534
Additions 8,081 8,081
Disposals
Revaluations
Transfers
At 31 December 2022 43,615 43,615
Depreciation
At 1 January 2022 1,830 1,830
Charge for year 8,750 8,750
On disposals
Other adjustments
At 31 December 2022 10,580 10,580
Net book value
At 31 December 2022 33,035 33,035
At 31 December 2021 33,704 33,704

MISS GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Debtors

2022 2021
£ £
Trade debtors 50,974 0
Prepayments and accrued income 11,347 3,733
Other debtors 5,132 574,180
Total 67,453 577,913

Intercompany balances are unsecured, accrue interest at a rate of 8% and are repayable on demand.

MISS GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Creditors: amounts falling due within one year note

2022 2021
£ £
Trade creditors 8,463 16,426
Taxation and social security 81,867 109,134
Accruals and deferred income 355,566 316,038
Other creditors 1,488,555 2,317,123
Total 1,934,451 2,758,721

Intercompany balances are unsecured, accrue interest at a rate of 8% and are repayable on demand.

MISS GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

7. Financial Commitments

Commitments under operating leasesAs at 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:Not later than 1 year £166,408 (2021: £87,345)Later than 1 year and not later than 5 years £238,846 (2021: £166,530)ContingenciesThere is a guarantee in place with the immediate parent, Meralm Bidco AB, in favour of Ares Management Limited. The total amount of guarantees not included in the Statement of Financial Position are £1,000,000 (2021 - £1,000,000). This guarantee is secured by a fixed and floating charge over all assets of the Company.