REGISTERED NUMBER: 08599115 (England and Wales) |
REPORT OF THE DIRECTORS AND |
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
MALL SOLUTIONS UK LTD |
REGISTERED NUMBER: 08599115 (England and Wales) |
REPORT OF THE DIRECTORS AND |
UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
MALL SOLUTIONS UK LTD |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Consolidated Income Statement | 3 |
Consolidated Balance Sheet | 4 |
Company Balance Sheet | 6 |
Notes to the Consolidated Financial Statements | 8 |
MALL SOLUTIONS UK LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5 The Quadrant |
Coventry |
West Midlands |
CV1 2EL |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
CONSOLIDATED |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER | 2,017,047 | 1,044,989 |
Cost of sales | 29,873 | 29,844 |
GROSS PROFIT | 1,987,174 | 1,015,145 |
Administrative expenses | 1,909,690 | 1,020,565 |
OPERATING PROFIT/(LOSS) | 4 | 77,484 | (5,420 | ) |
Interest receivable and similar income | 1,976 | 73 |
79,460 | (5,347 | ) |
Gain/loss on acquisition of |
subsidiary | - | 242,102 |
79,460 | 236,755 |
Interest payable and similar expenses | 2,940 | 1,598 |
PROFIT BEFORE TAXATION | 76,520 | 235,157 |
Tax on profit | 17,818 | 63 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 58,702 | 235,094 |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
CONSOLIDATED BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 | 89,833 | 89,833 |
Tangible assets | 7 | 19,880 | 15,902 |
Investments | 8 | - | - |
109,713 | 105,735 |
CURRENT ASSETS |
Debtors | 9 | 635,820 | 589,876 |
Cash at bank and in hand | 1,353,986 | 1,109,309 |
1,989,806 | 1,699,185 |
CREDITORS |
Amounts falling due within one year | 10 | 1,761,034 | 1,456,246 |
NET CURRENT ASSETS | 228,772 | 242,939 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
338,485 |
348,674 |
CREDITORS |
Amounts falling due after more than one year | 11 | 34,518 | 54,409 |
NET ASSETS | 303,967 | 294,265 |
CAPITAL AND RESERVES |
Called up share capital | 1,000 | 1,000 |
Retained earnings | 302,967 | 293,265 |
303,967 | 294,265 |
The company and the group are 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 and the group 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 group 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 and the group as at the end of each financial year and of the group's 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 and the group. |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
CONSOLIDATED BALANCE SHEET - continued |
31 DECEMBER 2023 |
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by: |
B R Lewis - Director |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
COMPANY BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 11 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
Company's profit/(loss) for the financial year | 53,430 | (7,308 | ) |
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. |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
COMPANY BALANCE SHEET - continued |
31 DECEMBER 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Mall Solutions UK Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Basis of consolidation |
The financial statements consolidate the financial statements of Mall Solutions UK Limited and all of its subsidiary undertakings. |
The results of subsidiaries acquired or disposed of during the year are included from, or to, the date that control passes. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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. |
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. |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group'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 NIL (2022 - NIL). |
The average number of employees by undertakings that were proportionately consolidated during the year was 30 (2022 - 39 ) . |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2023 | 2022 |
£ | £ |
Depreciation - owned assets | 6,393 | 3,102 |
5. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
6. | INTANGIBLE FIXED ASSETS |
Group |
Development |
costs |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 | 89,833 |
NET BOOK VALUE |
At 31 December 2023 | 89,833 |
At 31 December 2022 | 89,833 |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | TANGIBLE FIXED ASSETS |
Group |
Plant and |
machinery |
£ |
COST |
At 1 January 2023 | 19,004 |
Additions | 10,371 |
At 31 December 2023 | 29,375 |
DEPRECIATION |
At 1 January 2023 | 3,102 |
Charge for year | 6,393 |
At 31 December 2023 | 9,495 |
NET BOOK VALUE |
At 31 December 2023 | 19,880 |
At 31 December 2022 | 15,902 |
8. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
During the previous year, the company acquired 100% of the share capital of Mall Solutions Europe Limited (company number 07303106 registered in England and Wales) on 30th June 2022 for nominal value. Prior to, and following the acquistion, both companies had the same controlling party, Byron Lewis. The value of the assets and liabilities of Mall Solutions Europe Limited at 30.06.2022 was £242,102. |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Trade debtors | 271,461 | 244,118 |
Amounts owed by group undertakings | - | 2,954 |
Other debtors | 364,359 | 342,804 |
635,820 | 589,876 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans and overdrafts | 20,783 | 20,783 |
Trade creditors | 9,220 | 16,632 |
Taxation and social security | 160,652 | 118,897 |
Other creditors | 1,570,379 | 1,299,934 |
1,761,034 | 1,456,246 |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans | 34,518 | 54,409 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022: |
2023 | 2022 |
£ | £ |
B R Lewis |
Balance outstanding at start of year | 377 | (163 | ) |
Amounts advanced | - | 109,940 |
Amounts repaid | - | (109,400 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 377 | 377 |
MALL SOLUTIONS UK LTD (REGISTERED NUMBER: 08599115) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
J Normansell |
Balance outstanding at start of year | 4,080 | 4,080 |
Amounts advanced | 17,500 | 7,000 |
Amounts repaid | (17,500 | ) | (7,000 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 4,080 | 4,080 |
L Thomas |
Balance outstanding at start of year | 6,040 | (460 | ) |
Amounts advanced | 4,000 | 10,000 |
Amounts repaid | (8,750 | ) | (3,500 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 1,290 | 6,040 |
T W J Brice |
Balance outstanding at start of year | 837 | 837 |
Amounts advanced | 7,875 | 3,150 |
Amounts repaid | (7,875 | ) | (3,150 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 837 | 837 |