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Company registration number: 03840118







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2022


MARCUS EVANS (GERMANY) LIMITED






































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MARCUS EVANS (GERMANY) LIMITED
 


 
COMPANY INFORMATION


Director
M Van Os 




Company secretary
M Studd



Registered number
03840118



Registered office
Magnus House
7th Floor

3 Lower Thames Street

London

EC3R 6HE




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


MARCUS EVANS (GERMANY) LIMITED
 



CONTENTS



Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9


 


MARCUS EVANS (GERMANY) LIMITED
REGISTERED NUMBER:03840118



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
2
7

Investments
 5 
1,758,750
2,188,000

  
1,758,752
2,188,007

Current assets
  

Debtors: amounts falling due after more than one year
 6 
49,060
47,960

Debtors: amounts falling due within one year
 6 
31,987
73,380

Cash at bank and in hand
  
140,465
40,270

  
221,512
161,610

Creditors: amounts falling due within one year
 7 
(1,525,252)
(1,421,788)

Net current liabilities
  
 
 
(1,303,740)
 
 
(1,260,178)

Total assets less current liabilities
  
455,012
927,829

  

Net assets
  
455,012
927,829


Capital and reserves
  

Called up share capital 
  
501
501

Share premium account
  
1,938,388
1,938,388

Foreign exchange reserve
  
(534,465)
(505,018)

Other reserves
  
578,587
578,587

Profit and loss account
  
(1,527,999)
(1,084,629)

  
455,012
927,829


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 comprehensive income 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 Van Os
Director
Date: 9 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 1


 
MARCUS EVANS (GERMANY) LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022



Called up share capital
Share premium account
Foreign exchange reserve
Other reserves
Profit and loss account
Total equity


£
£
£
£
£
£



At 1 October 2020
501
1,938,388
(575,186)
578,587
(1,081,521)
860,769



Comprehensive income for the year


Loss for the year
-
-
-
-
(3,108)
(3,108)


Currency translation differences
-
-
70,168
-
-
70,168





At 1 October 2021
501
1,938,388
(505,018)
578,587
(1,084,629)
927,829



Comprehensive income for the year


Loss for the year
-
-
-
-
(443,370)
(443,370)


Currency translation differences
-
-
(29,447)
-
-
(29,447)



At 30 September 2022
501
1,938,388
(534,465)
578,587
(1,527,999)
455,012



The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


MARCUS EVANS (GERMANY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.


General information

Marcus Evans (Germany) Limited is a private company limited by shares, registered in England and Wales. The address of its registered office and principal place of business can be found 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has net current liabilities of £1,303,740 (2021: £1,260,178). Within total liabilities of £1,525,252 (2021: £1,421,788) there are inter-company creditors of £1,409,858 (2021: 1,023,454).
Marcus Evans Holdings (IOM) Ltd has confirmed that currently, as a major creditor of the UK company, it will
not demand repayment of the amounts outstanding until such a time that the Company is able to make
repayments without having a detrimental impact on the Company. The period for not demanding payment is at
least 12 months from the date of signing these financial statements.
Marcus Evans Holdings (IOM) Ltd has also confirmed that it will currently continue to provide financial
resources as may be required for the Company to meet its financial commitments as they fall due for at least
twelve months from the date of approval of these financial statements.
At the time of approving the financial statements, the directors have reasonable expectation that the Company
has adequate resources to continue in operational existence for the foreseeable future and Company also has
group financial support available in case of financial difficulties. Thus the directors continue to adopt the going
concern basis of accounting in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional currency is Euro, being the currency of the primary economic environemnt in which the company operates, and its 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 3

 


MARCUS EVANS (GERMANY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue arises from the provision of services in respect of management and arrangement of conferences. Revenue is measured at the fair value of the consideration received or receivable and represents amounts for the provision of services in the normal course of business, net of discounts and other sales-related taxes. 
Revenue is recognised at the completion of the conference, until which point the amounts invoiced are recorded as a deferred income.

  
2.5

Investment income

Annual net income for all accounting periods is automatically allocated to the company in accordance with the provisions of the Profit and Loss Transfer Agreement with its wholly owned subsidiary, Linguarama Spracheninstitut GmbH. Net income is calculated as the profit for the year after any transfers to reserves.

  
2.6

Event related expenses

Directly attributable event expenses are recognised in the year in which the event has been completed. Expenses that relate to an event taking place in a subsequent financial year but paid prior to the year end are recorded as prepayments in the statement of financial position.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.8

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:

Motor vehicles
-
25% straight line
Fixtures and fittings
-
20 - 25% 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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 


MARCUS EVANS (GERMANY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Taxation

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.

 
2.12

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 during the year was 7 (2021 -14).

Page 5

 


MARCUS EVANS (GERMANY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 October 2021
93,804


Disposals
(94,892)


Exchange adjustments
2,153



At 30 September 2022

1,065



Depreciation


At 1 October 2021
93,797


Disposals
(91,624)


Exchange adjustments
(1,110)



At 30 September 2022

1,063



Net book value



At 30 September 2022
2



At 30 September 2021
7

Page 6

 


MARCUS EVANS (GERMANY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2021
2,188,000



At 30 September 2022

2,188,000



Impairment


Charge for the period
429,250



At 30 September 2022

429,250



Net book value



At 30 September 2022
1,758,750

An impairment has been recognised in the year following an assessment of the carrying value of the investment within the subsidiary as at 30 September 2022, based on the estimated future cashflows of the entity.

Page 7

 


MARCUS EVANS (GERMANY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

6.


Debtors

2022
2021
£
£

Due after more than one year

Other debtors
49,060
47,960

49,060
47,960


2022
2021
£
£

Due within one year

Trade debtors
8,994
16,531

Other debtors
6,632
23,204

Prepayments and accrued income
16,361
33,645

31,987
73,380



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
3,929
56,160

Amounts owed to group undertakings
1,409,848
1,023,454

Other taxation and social security
7,987
3,666

Other creditors
16,487
10,058

Accruals and deferred income
87,001
328,450

1,525,252
1,421,788



8.


Commitments under operating leases

At 30 September 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

As restated
2022
2021
£
£


Not later than 1 year
150,802
173,955

Later than 1 year and not later than 5 years
-
147,419

150,802
321,374

A restatement in the prior year commitments column has been included in this year's financial statements as they were omitted in the financial statements that were filed for the year ended 30 September 2021. 

Page 8

 


MARCUS EVANS (GERMANY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

9.


Parent company

The parent company of the smallest and largest group of which the company is a member and for which group accounts are prepared is Marcus Evans Conferences Ltd (Formerly Marcus Evans (UK Holdings) Limited), the address of its registered office is Magnus House, 7th Floor, 3 Lower Thames Street, London, EC3R 6HE. 


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2022 was unqualified.

The audit report was signed on 9 October 2024 by Andrew Cook FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 9