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REGISTERED NUMBER: 07556440 (England and Wales)











Financial Statements

for the Year Ended

31 December 2023

for

MuoviTech UK Limited

MuoviTech UK Limited (Registered number: 07556440)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MuoviTech UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Miss S L Rogers



REGISTERED OFFICE: Carr Hall
Whalley Road
Blackburn
Lancashire
BB1 9LJ



REGISTERED NUMBER: 07556440 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Peter Nicol BSc FCA



AUDITORS: Horsfield & Smith
Tower House
269 Walmersley Road
Bury
Lancashire
BL9 6NX

MuoviTech UK Limited (Registered number: 07556440)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 226,886 280,097

CURRENT ASSETS
Stocks 424,040 696,660
Debtors 5 300,047 517,401
Cash at bank 81,895 163,060
805,982 1,377,121
CREDITORS
Amounts falling due within one year 6 1,524,509 1,905,280
NET CURRENT LIABILITIES (718,527 ) (528,159 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(491,641

)

(248,062

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (491,642 ) (248,063 )
SHAREHOLDERS' FUNDS (491,641 ) (248,062 )

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 director and authorised for issue on 10 September 2024 and were signed by:





Miss S L Rogers - Director


MuoviTech UK Limited (Registered number: 07556440)

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

1. STATUTORY INFORMATION

MuoviTech 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

MuoviTech UK Limited (Registered number: 07556440)

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

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.

Going concern
The financial statements have been prepared on a going concern basis. In making this assumption the director has considered a period of at least 24 months from the balance sheet date and is of the opinion that the company has the continued support of the parent company Ernstromgruppen AB which has both the profitability and the resources to do this.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 361,621
Additions 3,203
At 31 December 2023 364,824
DEPRECIATION
At 1 January 2023 81,524
Charge for year 56,414
At 31 December 2023 137,938
NET BOOK VALUE
At 31 December 2023 226,886
At 31 December 2022 280,097

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 219,834 441,210
Other debtors 80,213 76,191
300,047 517,401

MuoviTech UK Limited (Registered number: 07556440)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 86,024 -
Trade creditors 283,980 718,038
Amounts owed to group undertakings 1,103,334 1,103,334
Taxation and social security 31,517 71,769
Other creditors 19,654 12,139
1,524,509 1,905,280

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Independent Auditor's report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 10th September 2024 was Peter G Nicol, who signed for and on behalf of Horsfield & Smith.

8. RELATED PARTY DISCLOSURES

Muovitech AB is the sole shareholder of Muovitech UK Ltd. Goods and services purchased from Muovitech AB Ltd were £280,654. The amount due to Muovitech AB at the year end was £293,679 (2022 - £691,001).

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Ernstromgruppen AB which controls 91%of the issued share capital of MuoviTech AB.