REGISTERED NUMBER: 11187591 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Muvantex UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J De Munster

SECRETARY:

MYUKOFFICE LTD

REGISTERED OFFICE:

Westwood House

Annie Med Lane

South Cave

East Yorkshire

HU15 2HG

REGISTERED NUMBER:

11187591 (England and Wales)

AUDITORS:

Try Lunn & Co

Chartered Accountants

and Statutory Auditors

Roland House

Princes Dock Street

HULL HU1 2LD

CURRENT ASSETS

Stocks

131,946

657,708

Debtors

5

366,865

293,879

Cash at bank

165,984

208,062

664,795

1,159,649

CREDITORS

Amounts falling due within one year

6

244,727

491,253

NET CURRENT ASSETS

420,068

668,396

TOTAL ASSETS LESS CURRENT LIABILITIES

420,068

668,396

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

419,968

668,296

SHAREHOLDERS' FUNDS

420,068

668,396

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 director and authorised for issue on 30 September 2025 and were signed by:

J De Munster - Director

1.	STATUTORY INFORMATION

Muvantex UK Ltd 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. The financial statements have been prepared under the historical cost convention.

The company is reliant on the financial support of MGI BV. The directors of MGI BV have agreed to provide continued financial support to ensure the company will be able to trade as a going concern for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when goods are delivered and legal ownership is transferred to the customer.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items on a first-in-first-out basis.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

6,165

5,765

Total audit fees

6,165

5,765

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

189,021

293,879

Amounts owed by group undertakings

147,326

-

Other debtors

30,518

-

366,865

293,879

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

135,518

254,245

Amounts owed to group undertakings

20,418

61,006

Taxation and social security

40,942

86,961

Other creditors

47,849

89,041

244,727

491,253

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Share capital

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2024

668,296

Deficit for the year

(148,328

)

Dividends

(100,000

)

At 31 December 2024

419,968

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

The Report of the Auditors was unqualified.

Simon Moss FCCA (Senior Statutory Auditor)

for and on behalf of Try Lunn & Co

10.	RELATED PARTY DISCLOSURES

During the year the Company repaid loans from its parent company MGI BV totalling £15,812. At the Balance Sheet date an amount of £19,213 (2023 - £34,524) was outstanding. The loan is unsecured. Interest of £825 has been accrued on this loan, this is being charged at 2% per annum.

During the year the Company purchased services from from its parent company MGI BV of £25,251 (2023 - £33,395). At the balance sheet date an amount of £1,205 (2023 - £1,706) was owed to MGI BV.

Also during the year the Company purchased goods from Muvantex NV, a company owned by MGI BV, totalling £358,683 (2023 - £484,634), paid a management charge of £19,909 (2023 - £31,948) and made sales of goods to Muvantex NV totalling £392,352 (2023 - £152,180). At the balance sheet date an amount of £147,326 (2023 - £24,776 owed to) was owed by Muvantex NV.

During the year the company paid a dividend of £100,000 to its parent company.

11.	ULTIMATE CONTROLLING PARTY

The immediate controlling party is MGI BV, a company incorporated in Belgium.

The ultimate parent company is Jodanco Maatschap, a company incorporated in Belgium.

There is no ultimate controlling party as defined by FRS102.