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Registered number: 09527146
Marque of Brands Limited
Financial statements
Information for filing with the registrar
For the year ended 31 December 2023
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Marque of Brands Limited
Registered number:09527146
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Balance Sheet
As at 31 December 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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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 on 31 October 2025.
The notes on pages 2 to 8 form part of these financial statements.
Page 1
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Notes to the Financial Statements
For the year ended 31 December 2023
Marque of Brands Limited is a private company limited by shares incorporated and domiciled in England with the registration number 09527146. The address of the registered office is 3 City Link Industrial Park Phoenix Way, Tyersal, Bradford, West Yorkshire, United Kingdom, BD4 8JP. The principal activity of the company was the wholesale of perfume and cosmetics.
2.Accounting policies
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Basis of preparation of financial statements
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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.
The length of the reporting period has changed to 12 months ending 31 December 2023. In the prior year, the year end was changed from June to December to align the year end with other companies within the group. Therefore, the comparatives are not entirely comparable.
The following principal accounting policies have been applied:
In the year ended 31 December 2023, the company made a loss of £654,554 (2022: £265,505), has net current liabilities £892,598 (2022: £236,031) and net liabilities of £890,685 (2022: £236,031). Included within 'Amounts due to group undertakings' in Creditors: Amounts falling due within one year in Note 10 to these financial statements are amounts owed to Marque of Brands Americas LLC, Marque of Brands Pty Limited amd Mibelle Ltd. Loan deferment letters have been obtained in relation to this amount stating that the balances will not be called for repayment within 12 months of the date of approval of these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors continue to believe that the going concern basis of accounting is appropriate in preparing the annual financial statements.
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Foreign currency translation
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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.
Page 2
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Notes to the Financial Statements
For the year ended 31 December 2023
2.Accounting policies (continued)
Revenue is generated from the sale of skincare, sunless tanning and personal care products. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when goods are shipped from the warehouse which is the same as the invoice date. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Page 3
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Notes to the Financial Statements
For the year ended 31 December 2023
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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.
Depreciation is provided on the following basis:
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.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 4
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Notes to the Financial Statements
For the year ended 31 December 2023
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make estimates and assumptions concerning the future of the company. The resulting accounting estimates will, by definition, be likely to differ from the related actual results.
Estimates and judgements are continually evaluated and are based on historical experience and other relevant factors including expectations of the future that are believed to be reasonable under the current circumstances. The key accounting estimate recognised is:
Holiday pay accrual (Note 10)
Holiday pay accrual is calculated by multiplying the employee's holiday entitlement in hours at the year-end and the employee's hourly rate. A holiday pay accrual totalling £22,780 (2022: £35,878) is included in 'Accruals and deferred income' in Note 10 of these financial statements.
Shared administrative expenses
Management use a percentage of group sales to estimate a reasonable amount of shared administrative expenses to be recharged to the company. This calculation is an approximation and therefore management understand that an accurate calculation could result in a higher or lower amount recharged. The chosen allocation method reflects the relative consumption of shared services and is applied consistently across periods.
Transfer pricing adjustment
The transfer pricing adjustment includes accrued income and accrued expenditure. It has been calculated on a net basis as the amounts are payable to or receivable from the same entity. The net receivable has been offset against 'Amounts owed to group undertakings' in Note 10 of these financial statements and totals £100,177 (2022: £Nil).
Page 5
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Notes to the Financial Statements
For the year ended 31 December 2023
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The average monthly number of employees, including the directors, during the year was as follows:
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Average number of employees
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Finished goods and goods for resale
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The replacement value of stock is not materially different from cost.
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Prepayments and accrued income
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Page 6
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Notes to the Financial Statements
For the year ended 31 December 2023
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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100 (2022:100) Ordinary shares of £1.00 each
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £25,615 (2022: £23,820) Contributions totalling £2,322 (2022: £861) were payable to the fund at the balance sheet date and are included in creditors.
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Related party transactions
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The company has taken advantage of the exemption conferred by Section 33.1A of FRS 102 not to disclose transactions between other members of the group.
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The company regards Marq Labs, Inc, a company registered in USA, as its immediate parent company. It's registered address is 291 Edgewood St. Alexandria, TN 37012 and the ultimate controlling entity is the Migros Group, a company registered in the FMC is at Limmatstrasse 152,8005 Zurich (Switzerland). Consolidated accounts can be obtained from The Migros Group website.
Page 7
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Notes to the Financial Statements
For the year ended 31 December 2023
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Post balance sheet events
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On 1 May 2025, the ultimate controlling party changed to Persán S.A., a company registered in Spain. The immediate parent company remains unchanged.
The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.
The audit report was signed on 31 October 2025 by Anne Dwyer BSc (Hons) FCA (Senior statutory auditor) on behalf of Kreston Reeves Audit LLP.
Page 8
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