Caseware UK (AP4) 2022.0.179 2022.0.179 2024-01-312024-01-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-01Wholesaler of Textiles78falsetruefalse 07644585 2023-02-01 2024-01-31 07644585 2022-02-01 2023-01-31 07644585 2024-01-31 07644585 2023-01-31 07644585 c:Director2 2023-02-01 2024-01-31 07644585 d:FurnitureFittings 2023-02-01 2024-01-31 07644585 d:FurnitureFittings 2024-01-31 07644585 d:FurnitureFittings 2023-01-31 07644585 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07644585 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 07644585 d:OtherPropertyPlantEquipment 2024-01-31 07644585 d:OtherPropertyPlantEquipment 2023-01-31 07644585 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07644585 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07644585 d:CurrentFinancialInstruments 2024-01-31 07644585 d:CurrentFinancialInstruments 2023-01-31 07644585 d:Non-currentFinancialInstruments 2024-01-31 07644585 d:Non-currentFinancialInstruments 2023-01-31 07644585 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07644585 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07644585 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07644585 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07644585 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 07644585 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 07644585 d:ShareCapital 2024-01-31 07644585 d:ShareCapital 2023-01-31 07644585 d:SharePremium 2024-01-31 07644585 d:SharePremium 2023-01-31 07644585 d:RetainedEarningsAccumulatedLosses 2024-01-31 07644585 d:RetainedEarningsAccumulatedLosses 2023-01-31 07644585 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 07644585 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 07644585 c:FRS102 2023-02-01 2024-01-31 07644585 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07644585 c:FullAccounts 2023-02-01 2024-01-31 07644585 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07644585 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 07644585 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 07644585 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 07644585









MADEAUX LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
MADEAUX LIMITED
REGISTERED NUMBER: 07644585

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
91,674
95,309

  
91,674
95,309

Current assets
  

Stocks
  
295,514
296,736

Debtors: amounts falling due within one year
 5 
99,234
88,721

Cash at bank and in hand
 6 
4,815
20,002

  
399,563
405,459

Creditors: amounts falling due within one year
 7 
(319,845)
(311,232)

Net current assets
  
 
 
79,718
 
 
94,227

Total assets less current liabilities
  
171,392
189,536

Creditors: amounts falling due after more than one year
 8 
(33,600)
(58,800)

Provisions for liabilities
  

Deferred tax
 11 
(83)
(83)

  
 
 
(83)
 
 
(83)

Net assets
  
137,709
130,653


Capital and reserves
  

Called up share capital 
  
121
121

Share premium account
  
177,479
177,479

Profit and loss account
  
(39,891)
(46,947)

  
137,709
130,653


Page 1

 
MADEAUX LIMITED
REGISTERED NUMBER: 07644585
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R Smith
Director

Date: 9 April 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MADEAUX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Madeaux Limited is a company limited by shares, incorporated in England and Wales.
The principal activity of the company was that of textile wholesales.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MADEAUX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The 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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MADEAUX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 balance sheet 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 balance sheet date, 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 determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

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 reducing balance and straight line methods.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Other fixed assets
-
20%
straight line

The 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.

Page 5

 
MADEAUX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.11

Cash and cash equivalents

Cash 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.

 
2.12

Creditors

Short-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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 8).

Page 6

 
MADEAUX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Fixtures and fittings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 February 2023
11,925
172,016
183,941


Additions
1,947
31,944
33,891



At 31 January 2024

13,872
203,960
217,832



Depreciation


At 1 February 2023
3,957
84,675
88,632


Charge for the year on owned assets
1,830
35,696
37,526



At 31 January 2024

5,787
120,371
126,158



Net book value



At 31 January 2024
8,085
83,589
91,674



At 31 January 2023
7,968
87,341
95,309


5.


Debtors

2024
2023
£
£


Trade debtors
36,474
20,209

Other debtors
20,958
15,197

Prepayments and accrued income
41,802
53,315

99,234
88,721



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,815
20,002

4,815
20,002


Page 7

 
MADEAUX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
141,993
101,763

Trade creditors
167,635
193,069

Other taxation and social security
3,987
6,634

Other creditors
3,379
5,349

Accruals and deferred income
2,851
4,417

319,845
311,232



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
33,600
58,800

33,600
58,800



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
141,993
101,763


141,993
101,763


Amounts falling due 2-5 years

Bank loans
33,600
58,800


33,600
58,800


175,593
160,563


Page 8

 
MADEAUX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
4,816
20,002




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


11.


Deferred taxation




2024


£






At beginning of year
(83)



At end of year
(83)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(83)
(83)

(83)
(83)


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,153 (2023: £2,512). Contributions totalling £475 (2023: £813) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9