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REGISTERED NUMBER: 01506567 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2023

for

Markilux (UK) Limited

Markilux (UK) Limited (Registered number: 01506567)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Markilux (UK) Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr H J Roberts
Mr T Honemann





SECRETARY: Mr O Melz





REGISTERED OFFICE: Office 27 Red Hill House
Hope Street
Chester
Cheshire
CH4 8BU





REGISTERED NUMBER: 01506567 (England and Wales)





AUDITORS: Bennett Brooks & Co Limited
Chartered Accountants
& Statutory Auditors
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Markilux (UK) Limited (Registered number: 01506567)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 60,167 74,311

CURRENT ASSETS
Debtors 5 254,831 220,720
Cash at bank and in hand 165,356 618,001
420,187 838,721
CREDITORS
Amounts falling due within one year 6 (106,954 ) (334,320 )
NET CURRENT ASSETS 313,233 504,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,400

578,712

PROVISIONS FOR LIABILITIES (15,042 ) (18,578 )
NET ASSETS 358,358 560,134

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 357,358 559,134
358,358 560,134

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 20 September 2024 and were signed on its behalf by:





Mr T Honemann - Director


Markilux (UK) Limited (Registered number: 01506567)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Markilux (UK) Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of a designer awnings retailer for patios, gardens and balconies.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Turnover is recognised when the risks and rewards of ownership pass to the customer, which is generally on dispatch.

Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation on all assets is calculated to allocate the depreciable amount to their residual values on a systematic basis over their estimated useful lives or, if held on a finance lease, over the lease term, whichever is shorter, as follows:

Plant and machinery - 33% straight line
Fixtures and fittings - 10% to 33% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument, and are offset only when the company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Trade and other debtors
Trade and other debtors which are receivable within one year are initially measured at the transaction price. Trade and other debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled in impairment losses.

A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss fir the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Financial liabilities and equity
Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade, group and other creditors
Trade, group and other creditors (including accruals) payable within one year are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.


Markilux (UK) Limited (Registered number: 01506567)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company contributes to a work place defined contribution scheme. Contributions payable to the company's pension scheme are charged to the profit and loss statement in the period to which they relate.

Going concern
At the time of approving the financial statements the directors expect the company to continue in operational existence for the foreseeable future. The directors have prepared forecasts and cashflows that show the company is able to operate within its cash resources for a period of at least 12 months. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Share capital
Ordinary shares are classed as equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£ £ £
COST
At 1 January 2023 57,423 60,013 117,436
Additions 5,289 749 6,038
Disposals (26,334 ) (5,918 ) (32,252 )
At 31 December 2023 36,378 54,844 91,222
DEPRECIATION
At 1 January 2023 32,561 10,564 43,125
Charge for year 10,769 7,010 17,779
Eliminated on disposal (26,334 ) (3,515 ) (29,849 )
At 31 December 2023 16,996 14,059 31,055
NET BOOK VALUE
At 31 December 2023 19,382 40,785 60,167
At 31 December 2022 24,862 49,449 74,311

Markilux (UK) Limited (Registered number: 01506567)

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 239,650 203,825
Other debtors 15,181 16,895
254,831 220,720

Included in trade debtors is a bad debt provision of £35,069 (2022: £10,001).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 17,171 7,633
Amounts owed to group undertakings 585 84,999
Taxation and social security 74,565 216,013
Other creditors 14,633 25,675
106,954 334,320

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 95,349 123,243
Between one and five years 5,163 115,813
100,512 239,056

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

The Report of the Auditors was unqualified.

Jason Leach FCA (Senior Statutory Auditor)
for and on behalf of Bennett Brooks & Co Limited

9. ULTIMATE CONTROLLING PARTY

Markilux (UK) Limited is a 100% subsidiary of Schmitz-Werke GmbH + Co. KG. This company's registered address is Hansestr., 87, 48282 Emsdetten, Germany.

The immediate parent company is SW-Holding GmbH.

The ultimate controlling party is Mr D R P Schmitz by virtue of his majority shareholding in Schmitz-Werke GmbH + Co. KG.