Mixx Limited
COMPANY INFORMATION for the year ended 31st December 2023
Directors
J R Perlmutter
M F Rebuck
P Vadgama
Secretary
P P Vadgama
Company Number
06429752
Registered Office
5 The Pavillions
Brighton Road
Pease Pottage
RH11 9BJ
Mixx Limited
Contents  -  the year ended 31st December 2023
Page
Directors' report
1
Profit & Loss account
2
Balance Sheet
3
Notes to the financial statements
4 - 7
Mixx Limited
Directors'  Report for the year ended 31st December 2023
The directors present their report and financial statements for the year ended 31st December 2023
Principal activities
The principal activity of the company is that of developing, designing and having manufactured wireless
speakers, earphones and peripherals under the company's brand mark Mixx®. The company sells and markets
its products globally.
Directors
The following directors have held office during whole year under review except where noted.
J R Perlmutter
M F Rebuck
P Vadgama
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the Board
P Vadgama
Director
26 September 2024
Page 1
Mixx Limited
Profit and Loss Account for the year ended 31st December 2023
2023
2022
Notes
£
£
Turnover
Sales
7,807,884
7,758,223
7,807,884
7,758,223
Costs
Cost of Sales
5,717,472
6,036,196
Distribution costs etc
187,317
159,250
Administrative Expenses
1,222,799
1,015,921
7,127,589
7,211,367
680,296
546,857
Other interest receivable and similar Income
0
0
Interest Payable and similar charges
0
(485)
Profit before taxation
680,296
546,371
Taxation on profit
0
0
Profit for the financial year
7
680,296
546,371
Page 2
Mixx Limited
Balance Sheet as at  
31st December 2023
31 December 2023
2023
2022
Notes
£
£
Fixed assets
Tangible assets
3
156,241
8,209
Intangible assets
3
1,000
12,013
157,242
20,222
Current assets
Debtors & Prepayments
4
366,087
158,348
Cash at bank & in hand
512,214
372,922
Inventories
774,056
1,207,299
1,652,357
1,738,569
Creditors : amounts falling due within one year
5
(595,000)
(1,224,488)
Net Current Liabilities
1,057,357
514,081
Total Assets less current liabilities
1,214,599
534,303
Capital & Reserves
Called up share capital
6
100,000
100,000
Profit & Loss account
7
1,114,599
434,303
Total Equity
1,214,599
534,303
In preparing these financial statements:
For the financial year ended 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 26 September 2024
P Vadgama
Director
Company Registration No. 06429752
Page 3
Mixx Limited
Notes to the financial statements for the year ended 31st December 2023
1
Accounting Policies
Mixx Limited is a private company limited by shares incorporated in England and Wales.
The registered office is 5 The Pavilions, Brighton Road, Pease Cottage, RH11 9BJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102") and the requirements of the Companies Act 2006 as applicable to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Research and Development
Research and Development is written off to the profit & loss account in the year in which it was
incurred except where it is specifically identifiable to a specific viable product. In which case
the expenditure is deferred and amortised to the profit & loss over its expected product life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation.Depreciation is provided at rates calculated
to write off the cost less estimated residual value of each asset over its expected useful life,
as follows:
Plant & machinery
33.33%
Straight line
Computer equipment
33.33%
Straight line
Fixtures,fittings & equipment
10%
Straight line
1.5
Leasing
Rentals payable under operating leases are charged to the profit & loss account on a straight
line basis over the term of the lease.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between
the treatment of certain items for taxation and accounting purposes.The deferred tax balance
has not been discounted.
1.7
Foreign Currency Translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at
the rates of exchange ruling at the balance sheet date. Transactions in foreign currency are
recorded at the rate of exchange ruling at the date of the transaction. All differences are taken to
the profit & loss account.
Page 4
Mixx Limited
Notes to the financial statements for the year ended 31st December 2023
(continued)
1
Accounting Policies (continued)
1.8
Inventories
Stocks are stated at the lower of cost and estimated realisable value
1.9
Financial Instruments
The company has elected to apply the provisions of Section 11"Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
1.10
Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
2
Employees
The average number of persons (including directors) employed by the company during the year was 13 (2022: 10)
Page 5
Mixx Limited
Notes to the financial statements for the year ended 31st December 2023
(continued)
2023
2022
3
Tangible  & Intangible fixed assets
£
£
£
£
Tangible
Intangible
Totals
Cost (at begining of period)
166,642
378,446
545,088
533,812
Reclassifications
0
0
Additions
150572
150,572
11,276
Disposals
0
0
0
0
Cost as at 31st December 2023 (2022)
317,214
378,446
695,660
545,088
Depreciation (at beginning of period)
158,433
366,433
524,866
516,058
Reclassifications
0
0
Charge for the year/(period)
2,540
11,013
13,553
8,808
Write back on disposals
0
0
0
0
Total depreciation as at 31st December 2023 (2022)
160,973
377,446
538,419
524,866
Net book Value
31st December 2023
156,241
1,000
157,242
31st December 2022
20,222
2023
2022
£
£
4
Debtors
Trade Debtors
37,138
20,074
Corporation Tax recoverable
4,536
0
Other Debtors
324,413
138,274
366,087
158,348
5
Creditors: amounts falling due within one year
Trade creditors
389,895
957,457
Taxation & Social security
19,331
9,785
Loans from Shareholders
0
1,661
Other Creditors
1,774
11,294
Accruals
184,000
244,291
595,000
1,224,488
6
Share capital
Allotted,called up and fully paid
100,000 Ordinary shares of £1 each
100,000
100,000
There were no changes during the year.
Page 6
Mixx Limited
Notes to the financial statements for the year ended 31st December 2023
(continued)
2023
2022
£
£
7
Statement of movements on profit & loss account
Opening position at beginning of period
434,303
(112,068)
Profit & Loss for the period
680,296
546,371
Position at 31st December 2023 (2022)
1,114,599
434,303
8
Financial Commitments
At 31st December 2023 the company was commited to making the
following payments under non-cancellable operating leases
Operating leases which expire :
Between two & five years
16,000
16,000
9
Transactions With Directors
At the end of the year, the company owed £0.00 (2022: £1,661) to the directors.
During the year, interest on these loans of £0.00 (2022: £485.00) accrued to the directors.
Page 7
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