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REGISTERED NUMBER: 07473316 (England and Wales)















Audited Financial Statements for the Year Ended 31 December 2024

for

Milexa Group Limited

Milexa Group Limited (Registered number: 07473316)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Milexa Group Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R G Wilde
C Gimmersta
D Augustin





REGISTERED OFFICE: 43 Bridgewater Street
Liverpool
Merseyside
L1 0AR





REGISTERED NUMBER: 07473316 (England and Wales)





AUDITORS: Mitchell Charlesworth (Audit) Limited
3rd Floor
44 Peter Street
Manchester
M2 5GP

Milexa Group Limited (Registered number: 07473316)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,048 16,797
Tangible assets 5 135,312 266,379
138,360 283,176

CURRENT ASSETS
Inventories - 95,678
Debtors 6 287,817 195,802
Cash at bank 275,634 820,946
563,451 1,112,426
CREDITORS
Amounts falling due within one year 7 225,285 312,753
NET CURRENT ASSETS 338,166 799,673
TOTAL ASSETS LESS CURRENT
LIABILITIES

476,526

1,082,849

PROVISIONS FOR LIABILITIES 4,144 51,561
NET ASSETS 472,382 1,031,288

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 472,381 1,031,287
SHAREHOLDERS' FUNDS 472,382 1,031,288

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by:





R G Wilde - Director


Milexa Group Limited (Registered number: 07473316)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Milexa Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The preparation of the financial statements requires the director to make an assessment of the entity's ability to continue as a going concern. The director has reviewed this and considers it appropriate to prepare the financial statements on a going concern basis.

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 members of the group.

Revenue
Revenue is split between sales and royalties received. The sale of goods, excluding value added tax is recognised on the date of despatch. Royalties represent the sale of services under transfer pricing arrangement, excluding value added tax. The sale of services are recognised on the date when it can be reliably measured after costs have been recognised.

Goodwill
Goodwill has been amortised over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three to five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 66.67% per annum on cost and 25% per annum on reducing balance
Fixtures and fittings - 25% per annum on reducing balance
Computer equipment - 25% per annum on reducing balance

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


Milexa Group Limited (Registered number: 07473316)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 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 28 (2023 - 39 ) .

Milexa Group Limited (Registered number: 07473316)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024 62,000 76,028 138,028
Additions - 539 539
Disposals - (21,709 ) (21,709 )
At 31 December 2024 62,000 54,858 116,858
AMORTISATION
At 1 January 2024 62,000 59,231 121,231
Charge for year - 8,123 8,123
Eliminated on disposal - (15,544 ) (15,544 )
At 31 December 2024 62,000 51,810 113,810
NET BOOK VALUE
At 31 December 2024 - 3,048 3,048
At 31 December 2023 - 16,797 16,797

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 615,613 120,503 143,444 879,560
Additions 3,602 332 19,711 23,645
Disposals (425,232 ) (36,378 ) (29,358 ) (490,968 )
At 31 December 2024 193,983 84,457 133,797 412,237
DEPRECIATION
At 1 January 2024 449,895 77,806 85,480 613,181
Charge for year 32,183 8,138 14,389 54,710
Eliminated on disposal (340,161 ) (30,072 ) (20,733 ) (390,966 )
At 31 December 2024 141,917 55,872 79,136 276,925
NET BOOK VALUE
At 31 December 2024 52,066 28,585 54,661 135,312
At 31 December 2023 165,718 42,697 57,964 266,379

Milexa Group Limited (Registered number: 07473316)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,167 -
Amounts owed by group undertakings 194,939 -
Other debtors 1,537 9,849
Corporation tax - 56,660
Social security and other taxes 3,588 9,932
Prepayments and accrued income 69,586 119,361
287,817 195,802

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 115,597 119,341
Amounts owed to group undertakings - 55,254
Amounts owed to related parties 36,000 -
Corporation tax 18,063 -
Social security and other taxes 20,801 34,512
Other creditors 3,938 35,778
Director's current account 317 317
Accruals and deferred income 30,569 67,551
225,285 312,753

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 120,000 180,000
Between one and five years 240,000 105,000
360,000 285,000

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

The Auditors' Report was unqualified.

Alison Buckley (Senior Statutory Auditor)
for and on behalf of Mitchell Charlesworth (Audit) Limited

Milexa Group Limited (Registered number: 07473316)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. RELATED PARTY DISCLOSURES

On 25 June 2024 Yak Holdings Limited (formerly Milexa Holdings Limited) sold its shares in Milexa Group
Limited to Gimmersta Wallpaper AB.

During the year under review the company paid dividends of £399,000 (2023: £5,283,383) to Yak Holdings
Limited and paid rent to Yak Holdings Limited of £147,500 (2023: 80,507).

During the year the company received a £150,000 loan from Gimmersta Wallpaper AB. Interest is being charged on the loan in line with the agreement and is repayable on demand.

At the balance sheet date, the amounts outstanding were as follows:

2024 2023
Due from Due to Due from Due to
£ £ £ £
Yak Holdings Limited - 36,000 - 55,254
Gimmersta Wallpaper AB 194,939 - - -
194,939 36,000 - 55,254

The accounts of Milexa Group Limited are included in the consolidated financial statements of Gimmersta
Wallpaper AB whose registered office address is Mariedalsgatan 7, SE-503 38, Borås, Sweden.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors of Gimmersta Wallpaper AB.