2023-03-012024-02-292024-02-29false07952649MIX ASSOCIATES 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MIX ASSOCIATES LIMITED

Registered Number
07952649
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MIX ASSOCIATES LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

MITCHELL, Gemma Robertson
WALKER, Natasha

Registered Address

57 Bermondsey Street
London
SE1 3XJ

Registered Number

07952649 (England and Wales)
MIX ASSOCIATES LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets353,28555,925
53,28555,925
Current assets
Debtors4,51,480,732859,220
Cash at bank and on hand1,140,883824,303
2,621,6151,683,523
Creditors amounts falling due within one year6(1,082,241)(342,758)
Net current assets (liabilities)1,539,3741,340,765
Total assets less current liabilities1,592,6591,396,690
Net assets1,592,6591,396,690
Capital and reserves
Called up share capital110110
Share premium3,1503,150
Profit and loss account1,589,3991,393,430
Shareholders' funds1,592,6591,396,690
The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2024, and are signed on its behalf by:
MITCHELL, Gemma Robertson
Director
Registered Company No. 07952649
MIX ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Asset Class Depreciation Method and Rate Office Equipment Reducing Balance - 25% Computer Equipment Straight Line - 3 years
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year2725
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 23148,236
Additions20,977
At 29 February 24169,213
Depreciation and impairment
At 01 March 2392,311
Charge for year23,617
At 29 February 24115,929
Net book value
At 29 February 2453,285
At 28 February 2355,925
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables569,546611,266
Amounts owed by group undertakings671,683-
Other debtors46,11017,999
Prepayments and accrued income93,393129,955
Total1,380,732759,220
5.Debtors: amounts due after one year

2024

2023

££
Other debtors100,000100,000
Total100,000100,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables148,843107,033
Amounts owed to related parties555,328-
Taxation and social security360,932222,761
Accrued liabilities and deferred income17,13812,964
Total1,082,241342,758
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 twelve 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 non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
7.Related party transactions
During the year, the company entered into the following transactions with related parties: There was a balance of £ 671,683 (2023: £nil) due from the USA wholly owned subsidiary and £555,328 (2023: £nil) due to the USA subsidiary