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Company registration number: 00615129







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


MARY QUANT LIMITED






































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MARY QUANT LIMITED
 


 
COMPANY INFORMATION


Directors
M Nakayama 
Y Nakayama 
M Sue (appointed 8 December 2024)




Company secretary
M R Arnold



Registered number
00615129



Registered office
95 Gresham Street

London

EC2V 7AB




Trading Address
12 Hammersmith Grove

London

W6 7BA






Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

4th Floor

95 Gresham Street

London

EC2V 7AB




Bankers
Barclays Bank plc
Level 27

1 Churchill Place

London

BX3 2BB





 


MARY QUANT LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 6


 


MARY QUANT LIMITED
REGISTERED NUMBER:00615129



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
99,631
112,797

Tangible assets
 5 
2,914
1,392

  
102,545
114,189

Current assets
  

Debtors: amounts falling due after more than one year
 6 
11,433
-

Debtors: amounts falling due within one year
 6 
273,122
304,573

Cash at bank and in hand
  
379,514
494,362

  
664,069
798,935

Creditors: amounts falling due within one year
 7 
(31,119)
(60,491)

Net current assets
  
 
 
632,950
 
 
738,444

Total assets less current liabilities
  
735,495
852,633

  

Net assets
  
735,495
852,633


Capital and reserves
  

Called up share capital 
  
6,000
6,000

Profit and loss account
  
729,495
846,633

  
735,495
852,633


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 by: 




................................................
M Sue
Director

Date: 11 June 2025

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

Page 1

 


MARY QUANT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Mary Quant Limited is a private company limited by shares, incorporated in England and Wales under the Companies Act 2006. The company's registered number, trading address and the address of its registered office is disclosed on the company information page.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

  
2.2

Revenue

Revenue represents royalties receivable net of VAT for the year. Revenue is recognised on an accrual basis in the period to which it relates.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
Amortise cost in equal instalments over 10 years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Fixtures and fittings
-
15% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 2

 


MARY QUANT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.5

Impairment of fixed assets

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine
whether there is any indication that the assets are impaired. Where there is any indication that an asset may
be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. 

 
2.6

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.

 
2.7

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 3

 


MARY QUANT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Patent cost

£



Cost


At 1 January 2024
224,852


Additions
8,868


Disposals
(22,149)



At 31 December 2024

211,571



Amortisation


At 1 January 2024
112,055


Charge for the year on owned assets
22,034


On disposals
(22,149)



At 31 December 2024

111,940



Net book value



At 31 December 2024
99,631



At 31 December 2023
112,797



Page 4

 


MARY QUANT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2024
5,376


Additions
2,180


Disposals
(1,536)



At 31 December 2024

6,020



Depreciation


At 1 January 2024
3,984


Charge for the year on owned assets
658


Disposals
(1,536)



At 31 December 2024

3,106



Net book value



At 31 December 2024
2,914



At 31 December 2023
1,392


6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
11,433
-

11,433
-


2024
2023
£
£

Due within one year

Trade debtors
-
9,604

Amounts owed by group undertakings
246,548
271,910

Other debtors
14,951
12,939

Prepayments and accrued income
11,623
10,120

273,122
304,573


Page 5

 


MARY QUANT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
12,570
10,390

Amounts owed to group undertakings
2,518
2,518

Corporation tax
-
29,344

Other taxation and social security
-
2,796

Other creditors
659
651

Accruals and deferred income
15,372
14,792

31,119
60,491



8.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
45,528
45,528

Later than 1 year and not later than 5 years
45,528
-

91,056
45,528


9.


Parent company

The parent of the smallest group for which consolidated financial statements are drawn up is Mary Quant Cosmetics Japan Limited. The address of their registered office is Aoyama Taiyo Building, 1-7-6-Chrome Shibuya, Shibuya-Ku, Tokyo, 150-8336, Japan.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 11 June 2025 by Sarah Hallam FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6