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REGISTERED NUMBER: 04090798 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

MYA Blue UK Limited

MYA Blue UK Limited (Registered number: 04090798)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MYA Blue UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: L Brown
V Brown





SECRETARY: S E Brown





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ





REGISTERED NUMBER: 04090798 (England and Wales)





ACCOUNTANTS: Ledger Sparks Ltd
Airport House
Suite 43-45 Purley Way
Croydon
Surrey
CR0 0XZ

MYA Blue UK Limited (Registered number: 04090798)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 434 782

CURRENT ASSETS
Stocks 30,932 26,819
Debtors 5 15,406 13,544
Cash at bank and in hand 2,450 1,517
48,788 41,880
CREDITORS
Amounts falling due within one year 6 (45,474 ) (52,163 )
NET CURRENT ASSETS/(LIABILITIES) 3,314 (10,283 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,748

(9,501

)

CREDITORS
Amounts falling due after more than one
year

7

(65,210

)

(24,670

)
NET LIABILITIES (61,462 ) (34,171 )

CAPITAL AND RESERVES
Called up share capital 17,000 17,000
Share premium 9 36,000 36,000
Retained earnings 9 (114,462 ) (87,171 )
(61,462 ) (34,171 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

MYA Blue UK Limited (Registered number: 04090798)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





L Brown - Director


MYA Blue UK Limited (Registered number: 04090798)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

MYA Blue 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company continued to be that of design, manufacture, sales and marketing of swimwear and fashionwear together with consultancy and training.

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

Income is recognised when goods have been delivered to customers such that risks and reward of ownership have transferred to them.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery 33% on cost
Fixtures & fittings15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


MYA Blue UK Limited (Registered number: 04090798)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

GOING CONCERN
At the balance sheet date, liabilities exceed assets by £61,462 (2022: £34,171). However the financial statements have been prepared on a going concern basis as the company has the continuing support from its directors and shareholders. The director are therefore satisfied that the financial statements have been correctly prepared on the going concern basis.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

FOREIGN EXCHANGE
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
P&M fittings Totals
£    £    £   
COST
At 1 January 2023 1,127 1,465 2,592
Disposals - (90 ) (90 )
At 31 December 2023 1,127 1,375 2,502
DEPRECIATION
At 1 January 2023 498 1,312 1,810
Charge for year 323 23 346
Eliminated on disposal - (88 ) (88 )
At 31 December 2023 821 1,247 2,068
NET BOOK VALUE
At 31 December 2023 306 128 434
At 31 December 2022 629 153 782

MYA Blue UK Limited (Registered number: 04090798)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 364 184
Amounts owed by associates 1,000 500
Other debtors 14,042 12,860
15,406 13,544

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,363 26,705
Trade creditors 3,560 1,943
Amounts owed to associates 1,125 -
Taxation and social security 3,948 5,898
Other creditors 20,478 17,617
45,474 52,163

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,710 24,670
Other creditors 46,500 -
65,210 24,670

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

8. DEFERRED TAX
£   
Balance at 1 January 2023 (8,262 )
Provided during year (3,809 )
Balance at 31 December 2023 (12,071 )

9. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

MYA Blue UK Limited (Registered number: 04090798)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors are amounts payable to the director, L G Brown of £14,528 (2022 - £6,663) for short term and of £40,000 (2022 - Nil) for long term and V J Brown of £436 (2022 - £6,936) for short term and of £6,500 (2022 - Nil) for long term. This loan is interest free and repayable on demand.

Included in other debtors is amounts due from associate company of £1,000 (2022: £500) for P.B. Baumann (UK) Limited, a company in which 100% share capital is held by M-Tech UK Limited.

Included in other creditors is amounts due to associate company of £1,000 (2022: Nil) for M-Tech UK Limited, a company having common control.

Included in other creditors is amounts due to associate company of £125 (2022: Nil) for Dynamic Reasoning Ltd, a company having common control.