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REGISTERED NUMBER: 04489570 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MAURICE WARD & CO. UK LIMITED

MAURICE WARD & CO. UK LIMITED (REGISTERED NUMBER: 04489570)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MAURICE WARD & CO. UK LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Maurice Ward
Thelma Margaret Phelan





REGISTERED OFFICE: Oriel House
Unit F
Brooklands Close
Sunbury-On-Thames
Middlesex
TW16 7DX





REGISTERED NUMBER: 04489570 (England and Wales)





AUDITORS: Kings CAP Ltd
Statutory Auditor
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

MAURICE WARD & CO. UK LIMITED (REGISTERED NUMBER: 04489570)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,555,833 1,617,150
Investments 5 235,771 58,878
1,791,604 1,676,028

CURRENT ASSETS
Debtors 6 1,733,689 2,760,801
Cash at bank and in hand 783,920 1,101,380
2,517,609 3,862,181
CREDITORS
Amounts falling due within one year 7 1,951,957 3,922,458
NET CURRENT ASSETS/(LIABILITIES) 565,652 (60,277 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,357,256

1,615,751

CAPITAL AND RESERVES
Called up share capital 8 3,000 3,000
Share premium 273,000 273,000
Retained earnings 2,081,256 1,339,751
SHAREHOLDERS' FUNDS 2,357,256 1,615,751

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Maurice Ward - Director


MAURICE WARD & CO. UK LIMITED (REGISTERED NUMBER: 04489570)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Maurice Ward & Co. Uk 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.

The financial statements have been prepared on a going concern basis which assumes that the company is going to continue to trade for the foreseeable future. This trading is dependent on the continued financial support of related undertakings and the parent undertaking, Maurice Ward Group Two S.R.O. Additionally, the company is considered by the director's a going concern on the basis that the company is used for group promotional purposes in the UK market and that the company remains relatively new to the market. The parent undertaking and Director's intend to continue to provide financial support to the company for a minimum period of 12 months from approval of these financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Maurice Ward & Co. Uk Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Maurice Ward Group Two S.R.O., MW Logistic Park – DC5, Dobranská 665, Štenovice, 332 09, Czech Republic.

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 subsidiaries within the group.

Turnover
Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when the goods are despatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership pass to the buyer. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided. Deferred income is recognised as revenue on a straight-line basis in the period the income relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

MAURICE WARD & CO. UK LIMITED (REGISTERED NUMBER: 04489570)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 44 (2022 - 43 ) .

MAURICE WARD & CO. UK LIMITED (REGISTERED NUMBER: 04489570)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 1,850,001 1,500 59,477 120,788 2,031,766
Additions - - 1,906 - 1,906
At 31 December 2023 1,850,001 1,500 61,383 120,788 2,033,672
DEPRECIATION
At 1 January 2023 296,042 1,500 59,477 57,597 414,616
Charge for year 37,000 - 477 25,746 63,223
At 31 December 2023 333,042 1,500 59,954 83,343 477,839
NET BOOK VALUE
At 31 December 2023 1,516,959 - 1,429 37,445 1,555,833
At 31 December 2022 1,553,959 - - 63,191 1,617,150

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 58,878
Additions 176,893
At 31 December 2023 235,771
NET BOOK VALUE
At 31 December 2023 235,771
At 31 December 2022 58,878

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,640,348 2,515,245
Other debtors 93,341 245,556
1,733,689 2,760,801

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,729,971 2,940,480
Taxation and social security 176,543 123,049
Other creditors 45,443 858,929
1,951,957 3,922,458

MAURICE WARD & CO. UK LIMITED (REGISTERED NUMBER: 04489570)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
3,000 Ordinary £1 3,000 3,000

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

The Report of the Auditors was unqualified.

Sara Brown (Senior Statutory Auditor)
for and on behalf of Kings CAP Ltd

10. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Maurice Ward Group Two sro, a company register in Czech Republic. The ultimate controlling party is Mr Anthony Ward.