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REGISTERED NUMBER: 07324174 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

MAKRO LABELLING LIMITED

MAKRO LABELLING LIMITED (REGISTERED NUMBER: 07324174)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MAKRO LABELLING LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2023







DIRECTORS: S Ghizzi
M Manzotti





SECRETARY: E B Di Ponio





REGISTERED OFFICE: 3 Silver Court
Watchmead
Welwyn Garden City
Hertfordshire
AL7 1LT





REGISTERED NUMBER: 07324174 (England and Wales)





AUDITORS: Wright & Co Partnership Limited
Chartered Accountants & Registered Auditors
The Squires
5 Walsall Street
Wednesbury
West Midlands
WS10 9BZ

MAKRO LABELLING LIMITED (REGISTERED NUMBER: 07324174)

BALANCE SHEET
31st December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 442,588 256,058
Debtors 5 349,688 330,599
Cash at bank and in hand 243,397 742,606
1,035,673 1,329,263
CREDITORS
Amounts falling due within one year 6 869,063 854,668
NET CURRENT ASSETS 166,610 474,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,610

474,595

CAPITAL AND RESERVES
Called up share capital 7 40,000 40,000
Retained earnings 126,610 434,595
SHAREHOLDERS' FUNDS 166,610 474,595

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 29th October 2024 and were signed on its behalf by:





M Manzotti - Director


MAKRO LABELLING LIMITED (REGISTERED NUMBER: 07324174)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Makro Labelling 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, and encompasses preparation under the historical cost convention. The financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

MAKRO LABELLING LIMITED (REGISTERED NUMBER: 07324174)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Turnover
Turnover encompasses the sale and servicing of labelling machines. Machine sales include deposit
payments and factory acceptance tests. Sales are concluded and recognized as income upon final
installation and commissioning of the machines. Parts and servicing is invoiced and recognised as income
on completion of the transaction.

Bank interest received is recognised as income, upon receipt.

Rounding and currency
For the purposes of presenting these financial statements, all figures are rounded to the nearest pound
and stated in GBP.

Trade debtors and amounts owed by group undertakings
Trade debtors and amounts owed by group undertakings are recognised initially at transaction price. They
are subsequently measured at the amortised cost using the effective interest method, less provision for
impairment. A provision for impairment of trade debtors is established when there is objective evidence
that the company will not be able to collect all amounts due, according to the original terms of the
transaction.

Trade creditors and amounts owed to group undertakings
Trade creditors and amounts owed to group undertakings are classified as current liabilities if the
company does not have an unconditional right, at the end of the reporting period, to defer settlement of the
creditor for at least twelves months after the reporting date. If there is an unconditional right to defer
settlement for at least twelve months after the reporting date, they are presented as amounts due after
more than one year.

Judgements and estimates
Judgements, estimates and assumptions in compliance with FRS 102 requires the directors to make such
decisions about the carrying amounts of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors
that are considered to be relevant. Estimates and judgements are continually evaluated and are based on
historical experience and factors, including expectations of future events that are believed to be
reasonable under the circumstances. No material judgements in applying accounting policies were used
and there were no key sources of estimation uncertainty during the preparation of these financial
statements

Reserves policy
Reserves are maintained to provide financial stability and protect against unforeseen circumstances or
any future downturns. These ensure that there are sufficient funds to meet on going operational
commitments.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


MAKRO LABELLING LIMITED (REGISTERED NUMBER: 07324174)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 1st January 2023
and 31st December 2023 2,713
DEPRECIATION
At 1st January 2023
and 31st December 2023 2,713
NET BOOK VALUE
At 31st December 2023 -

MAKRO LABELLING LIMITED (REGISTERED NUMBER: 07324174)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 181,201 201,599
Due by group undertakings 12,839 -
Advance payments 154,800 129,000
Prepayments 848 -
349,688 330,599

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 34,167
Trade creditors 15,874 9,538
Due to group undertakings 172,994 136,801
Tax 29,017 9,365
Social security and other taxes 65,125 77,518
Advance receipts 580,140 580,694
Other creditors 753 753
Accrued expenses 5,160 5,832
869,063 854,668

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40,000 Ordinary £1 40,000 40,000

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

The Report of the Auditors was unqualified.


We draw attention to Note 10 to the financial statements which explains that the directors intend to liquidate the company on 31st August 2024 and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

Michael Atkinson FCA (Senior Statutory Auditor)
for and on behalf of Wright & Co Partnership Limited

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £20,482 (2022 - £12,216) in respect of non-cancellable leasing contracts.

MAKRO LABELLING LIMITED (REGISTERED NUMBER: 07324174)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


10. RELATED PARTY DISCLOSURES

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

11. POST BALANCE SHEET EVENTS

On 10th May 2024, the Board of Directors passed a resolution for all trading to cease by 31st May 2024, with the distribution of products and provision of services to be undertaken by Makro Labelling Srl from 1st June 2024. It was further resolved that Makro Labelling Limited would enter into a solvent liquidation following the cessation of trading activities. Due to various ongoing processes, the employees transferred on 1st June 2024, and trading ceased on 31st August 2024.

12. ULTIMATE CONTROLLING PARTY

From 1st January 2023 to 25th January 2023 the company was controlled by it's parent company, Makro Labelling S.R.L, incorporated in Italy. From 25th January 2023 to 31st December 2023 the company was controlled by its ultimate parent company, Tetra Laval International SA, 70, Avenue Général Guisan, CH-1009 Pully, Switzerland.