ACCOUNTS - Final Accounts preparation

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:

Company Registration Number SC469069

	MACRON RETAIL UK LIMITED

	FINANCIAL STATEMENTS

	31 DECEMBER 2024

MACRON RETAIL UK LIMITED

REGISTERED NUMBER: SC469069

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		14,470		19,876
			14,470		19,876
Current assets
Stocks	5	1,541,192		1,896,595
Debtors: amounts falling due within one year	6	174,982		339,827
Cash at bank and in hand		177,318		162,566
		1,893,492		2,398,988
Creditors: amounts falling due within one year	7	(1,872,278)		(2,326,961)
Net current assets			21,214		72,027
Total assets less current liabilities			35,684		91,903
Provisions for liabilities
Deferred tax	8	(2,603)		(4,613)
			(2,603)		(4,613)
Net assets			33,081		87,290

Capital and reserves
Called up share capital	9	10,000	10,000
Profit and loss account	10	23,081	77,290
		33,081	87,290

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:

Scott John Buchanan

Director

Date: 23 December 2025

The notes on pages 2 to 9 form part of these financial statements.

Page 1

MACRON RETAIL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Macron Retail UK Ltd is a private company, limited by shares, registered in Scotland. The company's registered office address and principal place of business is Unit 1, 6 Bankhead Crossway North, Edinburgh, Scotland, EH11 4PB.

These financial statements have been prepared in pound sterling, rounded to the nearest pound, as this is the currency of the economic environment in which the company operates.

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.

The following principal accounting policies have been applied:

2.2

Going concern

In preparing these financial statements, the directors of the company have given careful consideration to current and anticipated future solvency requirements of the company and its ability to continue as a going concern for the foreseeable future. The Directors have prepared the financial statements on a going concern basis.

Macron SPA, the immediate parent company, has confirmed that, for at least 12 months from the date of signing the accounts, it will make available such funds as are needed by Macron Retail UK Limited to meet its third party liabilities as they fall due.

Based on the above, the directors believe it remains appropriate to prepare the financial statements on a going concern basis.

2.3

Revenue

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. 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.

Page 2

MACRON RETAIL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

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.

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.

2.5

Pensions

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 Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

MACRON RETAIL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

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.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	10%	on cost
				Computer equipment	-	20%	on cost

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.

2.8

Stocks

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.

At each reporting 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.

2.9

Debtors

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.

2.10

Cash and cash equivalents

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.

2.11

Creditors

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.

Page 4

MACRON RETAIL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 57 (2023 - 64).

4.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	19,853	19,027	38,880
At 31 December 2024	19,853	19,027	38,880
Depreciation
At 1 January 2024	8,506	10,498	19,004
Charge for the year on owned assets	1,985	3,421	5,406
At 31 December 2024	10,491	13,919	24,410
Net book value
At 31 December 2024	9,362	5,108	14,470
At 31 December 2023	11,347	8,529	19,876

Page 5

MACRON RETAIL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Stocks
		2024	2023
		£	£

Finished goods and goods for resale	1,541,192	1,896,595
	1,541,192	1,896,595

Debtors

					2024	2023
					£	£


Trade debtors	60,654	87,696
Amounts owed by group undertakings	-	4,720
Other debtors	25,381	113,047
Prepayments and accrued income	88,947	134,364
	174,982	339,827

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	24,502	2,267
Amounts owed to group undertakings	1,549,800	2,166,601
Corporation tax	5,213	11,547
Other taxation and social security	204,830	93,396
Other creditors	7,021	20,411
Accruals and deferred income	80,912	32,739
	1,872,278	2,326,961

8.	Deferred taxation

		2024
		£

	At beginning of year	(4,613)
	Charged to profit or loss	2,010
	At end of year	(2,603)

Page 6

MACRON RETAIL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances	(2,749)	(4,613)
Short term timing differences	146	-
	(2,603)	(4,613)

Page 7

MACRON RETAIL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

10,000 (2023 - 10,000) Ordinary shares of £1.00 each	10,000	10,000

10.

Reserves

Profit and loss account

The profit and loss account comprises of accumulated profits and losses of the company.

11.	Pension commitments

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 £8,594 (2023 - £8,452). Contributions totalling £2,647 (2023 - £1,423) were payable to the fund at the reporting date and are included in creditors.

Not later than 1 year	117,060	117,059
Later than 1 year and not later than 5 years	146,030	116,245
	263,090	233,304

13.

Related party transactions

As at 31 December 2024, the parent company was owed £17,555 (2023 - £17,555) by Macron Retail UK Ltd.

As at 31 December 2024, the parent company owed £364 (2023 - £311) to Macron Retail UK Ltd.

As at 31 December 2024, a fellow subsidiary was owed £1,527,445 (2023 - £2,149,045) by Macron Retail UK Ltd.

As at 31 December 2024, a fellow subsidiary was owed £4,800 (2023 - owed to £4,408) by Macron Retail UK Ltd.

Page 8

MACRON RETAIL UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14.	Controlling party

The ultimate controlling party is Macron S.P.A. by virtue of its shareholding in Macron Retail UK Ltd.

The correspondence address of Macron S.P.A is 57 Via G. Pastore, 40053 Valsamoggia, Bologna, Italy.

15.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was qualified.

The qualification in the audit report was as follows:

We attended the stock count for the year ended 31 December 2024 and obtained sufficient appropriate audit evidence to conclude that inventory quantities included in the balance sheet at £1,541,192 at that date were materially accurate. Accordingly, no material issues were identified in respect of the current year.

However, in the previous year we were unable to satisfy ourselves regarding the inventory quantities included in the balance sheet at £1,896,595 at 31 December 2023. Consequently, we could not determine whether any adjustment to that amount was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 December 2024. While the current year figures are not misstated, the effects of the prior year qualification remains and impact the comparability of the current year’s profit and loss account with the corresponding figures.

The audit report was signed on 23 December 2025 by Martin Johnston CA (Senior statutory auditor) on behalf of Armstrong Watson Audit Limited.

Page 9