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Registered number: 09527146










Marque of Brands Limited










Financial statements

Information for filing with the registrar

For the Period Ended 31 December 2022

 
Marque of Brands Limited
Registered number:09527146

Balance Sheet
As at 31 December 2022

31 December
30 June
2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
14,862
179,925

Cash at bank and in hand
 5 
230,352
88,757

  
245,214
268,682

Creditors: amounts falling due within one year
 6 
(481,245)
(239,208)

Net current (liabilities)/assets
  
 
 
(236,031)
 
 
29,474

  

Net (liabilities)/assets
  
(236,031)
29,474


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(236,131)
29,374

  
(236,031)
29,474


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 October 2024.




William David Henard IV
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
Marque of Brands Limited
 
 
Notes to the Financial Statements
For the Period Ended 31 December 2022

1.


General information

Marque of Brands is a private company limited by shares and was incorporated in England with the registration number 09527146. The address of the registered office is Second Floor, 168 Shoreditch High Street, London, E1 6RA. The principal activity of the company in the year under review was the wholesale of perfume and cosmetics.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The length of the reporting period has changed to 18 months ending 31 December 2022. This is to align the year end with other companies within the group. Therefore, the comparatives are not entirely comparable.  

The following principal accounting policies have been applied:

 
2.2

Going concern

In the period ended 31 December 2022, the company made a loss of £265,505 (2021: profit of £24,750), has net current liabilities and net liabilities of £236,031 (2021: net current assets and net assets of £29,474). Included within 'Amounts due to group undertakings' in Creditors: Amounts falling due within one year in Note 8 to these financial statements is an amount owed to Marque of Brands Americas LLC. A loan deferment letter has been obtained in relation to this balance stating that it will not be called for repayment within 12 months of the date of approval of these financial statements and a letter of support has been obtained from Mibelle AG. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors continue to believe that the going concern basis of accounting is appropriate in preparing the annual financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
Marque of Brands Limited
 

Notes to the Financial Statements
For the Period Ended 31 December 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
Marque of Brands Limited
 

Notes to the Financial Statements
For the Period Ended 31 December 2022

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


     31 December
         30 June
        2022
        2021
            No.
            No.







Average number of employees
13
8

Page 4

 
Marque of Brands Limited
 
 
Notes to the Financial Statements
For the Period Ended 31 December 2022

4.


Debtors

31 December
30 June
2022
2021
£
£


Trade debtors
10,651
154,478

Other debtors
4,211
25,347

Called up share capital not paid
-
100

14,862
179,925



5.


Cash and cash equivalents

31 December
30 June
2022
2021
£
£

Cash at bank and in hand
230,352
88,757



6.


Creditors: Amounts falling due within one year

31 December
30 June
2022
2021
£
£

Trade creditors
10,165
3,593

Amounts owed to group undertakings
371,337
154,340

Corporation tax
-
5,975

Other taxation and social security
22,133
21,395

Other creditors
38,582
50,155

Accruals and deferred income
39,028
3,750

481,245
239,208



7.


Share capital

31 December
30 June
2022
2021
£
£
Allotted, called up and fully paid



100 (2021 -100) Ordinary shares of £1.00 each
100
100


Page 5

 
Marque of Brands Limited
 
 
Notes to the Financial Statements
For the Period Ended 31 December 2022

8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £23,820 (2021: £6,355) Contributions totalling £861 (2021: £2,098) were payable to the fund at the balance sheet date and are included in creditors.


9.


Related party transactions

The company has taken advantage of the exemption conferred by Section 33.1A of FRS 102 not to disclose transactions between other members of the group.


10.


Controlling party

The company regards Marq Labs, Inc, a company registered in USA, as its immediate parent company and the ultimate controlling entity is the Migros Group.

11.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2022 was unqualified.

The audit report was signed on 24 October 2024 by Anne Dwyer BSc (Hons) FCA (Senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 6