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REGISTERED NUMBER: 06632385 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

MEB ENGLAND LIMITED

MEB ENGLAND LIMITED (REGISTERED NUMBER: 06632385)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEB ENGLAND LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: Mrs B Werschine
S D Arrouas
Ms S A Belin





REGISTERED OFFICE: 29 Kings Road
London
SW3 4RP





REGISTERED NUMBER: 06632385 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

MEB ENGLAND LIMITED (REGISTERED NUMBER: 06632385)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 401,806 18,440

CURRENT ASSETS
Inventories 2,350 1,244
Debtors 5 243,375 219,561
Cash at bank and in hand 328,513 325,572
574,238 546,377
CREDITORS
Amounts falling due within one year 6 1,327,974 775,868
NET CURRENT LIABILITIES (753,736 ) (229,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(351,930

)

(211,051

)

CAPITAL AND RESERVES
Called up share capital 7 1 1
Share premium 8 999 999
Retained earnings 8 (352,930 ) (212,051 )
SHAREHOLDERS' FUNDS (351,930 ) (211,051 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 25 July 2024 and were signed on its behalf by:




Ms S A Belin - Director


MEB ENGLAND LIMITED (REGISTERED NUMBER: 06632385)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

MEB England 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.

Turnover
Revenue 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.
Land and buildings - Straight line over 7 years
Plant and machinery etc - 25% on cost and Straight line over 7 years

Stocks
Inventories 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MEB ENGLAND LIMITED (REGISTERED NUMBER: 06632385)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 72,533 162,973 235,506
Additions 400,859 19,956 420,815
At 31 March 2024 473,392 182,929 656,321
DEPRECIATION
At 1 April 2023 54,093 162,973 217,066
Charge for year 35,087 2,362 37,449
At 31 March 2024 89,180 165,335 254,515
NET BOOK VALUE
At 31 March 2024 384,212 17,594 401,806
At 31 March 2023 18,440 - 18,440

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 105,758 105,922
Prepayments and accrued income 137,617 113,639
243,375 219,561

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 62,561 87,169
Social security and other taxes 31,852 (9,874 )
Other creditors 1,209,155 685,184
Accruals and deferred income 24,406 13,389
1,327,974 775,868

MEB ENGLAND LIMITED (REGISTERED NUMBER: 06632385)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

A group treasury agreement has been agreed between STITCH S.A.S. (the parent company) and companies with a direct or indirect link to the Eric Bompard Group (of which Meb England is a member).

This balance is included within other creditors.

This agreement was granted and accepted as of 11 March 2021 for a period of twelve months, tacitly renewable for the same period.

Within the terms of this agreement, cash advances are granted between the parties on which interest is accrued at the 3-month EURIBOR rate plus 1%, which may be modified if necessary if it proves to be inappropriate in relation to market conditions, it being specified that if the 3-month EURIBOR rate were to fall below zero, it would be equal to zero.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 (212,051 ) 999 (211,052 )
Deficit for the year (140,879 ) (140,879 )
At 31 March 2024 (352,930 ) 999 (351,931 )

9. RELATED PARTY DISCLOSURES

During the year the company was charged for goods and services amounting to £387,916 (2023 - £380,229) and charged £Nil for services (2023: £Nil) to Eric Bompard SA , a company incorporated in France. At the year end £35,065 (2023: £73,549) was due to Eric Bompard SA.

During the year the company was charged £63,620 (2023: £57,066) for services and fees from MEB SAS, a company incorporated in France. At the year end £13,061 (2023: £11,470) was due to MEB SAS.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Knit S.A.S which is based in Paris at 1 rue Paul Cezanne, 75008 Paris, France. At the balance sheet date there was a loan outstanding to Stitch included within other creditors totalling £1,199,813. This loan is subject to interest of EURIBOR +1% and the capital is repayable on demand.