Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity2326truetruefalse 04709509 2023-01-01 2023-12-31 04709509 2022-01-01 2022-12-31 04709509 2023-12-31 04709509 2022-12-31 04709509 2022-01-01 04709509 2 2023-01-01 2023-12-31 04709509 1 2023-01-01 2023-12-31 04709509 e:Director1 2023-01-01 2023-12-31 04709509 e:Director3 2023-01-01 2023-12-31 04709509 e:Director5 2023-01-01 2023-12-31 04709509 e:RegisteredOffice 2023-01-01 2023-12-31 04709509 d:FurnitureFittings 2023-01-01 2023-12-31 04709509 d:FurnitureFittings 2023-12-31 04709509 d:FurnitureFittings 2022-12-31 04709509 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04709509 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04709509 d:ComputerEquipment 2023-01-01 2023-12-31 04709509 d:ComputerEquipment 2023-12-31 04709509 d:ComputerEquipment 2022-12-31 04709509 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04709509 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04709509 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04709509 d:OtherPropertyPlantEquipment 2023-12-31 04709509 d:OtherPropertyPlantEquipment 2022-12-31 04709509 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04709509 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04709509 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04709509 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04709509 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 04709509 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04709509 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 04709509 d:CurrentFinancialInstruments 2023-12-31 04709509 d:CurrentFinancialInstruments 2022-12-31 04709509 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04709509 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04709509 d:ShareCapital 2023-12-31 04709509 d:ShareCapital 2022-12-31 04709509 d:ShareCapital 2022-01-01 04709509 d:CapitalRedemptionReserve 2023-01-01 2023-12-31 04709509 d:CapitalRedemptionReserve 2023-12-31 04709509 d:CapitalRedemptionReserve 2 2023-01-01 2023-12-31 04709509 d:CapitalRedemptionReserve 2022-12-31 04709509 d:CapitalRedemptionReserve 2022-01-01 04709509 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04709509 d:RetainedEarningsAccumulatedLosses 2023-12-31 04709509 d:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 04709509 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 04709509 d:RetainedEarningsAccumulatedLosses 2022-12-31 04709509 d:RetainedEarningsAccumulatedLosses 2022-01-01 04709509 e:FRS102 2023-01-01 2023-12-31 04709509 e:Audited 2023-01-01 2023-12-31 04709509 e:FullAccounts 2023-01-01 2023-12-31 04709509 e:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04709509 d:WithinOneYear 2023-12-31 04709509 d:WithinOneYear 2022-12-31 04709509 d:BetweenOneFiveYears 2023-12-31 04709509 d:BetweenOneFiveYears 2022-12-31 04709509 e:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04709509 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 04709509 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04709509 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 04709509 (England and Wales)














MARKET FORCE INFORMATION (EUROPE) LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
COMPANY INFORMATION


Directors
M A Marlowe 
S W Harding 
E Cordell 




Registered number
04709509



Registered office
Birchin Court
5th Floor

19-25 Birchin Lane

London

United Kingdom

EC3V 9DU




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited






 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 


CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 11



 
MARKET FORCE INFORMATION (EUROPE) LIMITED
REGISTERED NUMBER:04709509


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£000
£000

Fixed assets
  

Intangible assets
 4 
18
-

Tangible fixed assets
 5 
-
59

  
18
59

Current assets
  

Debtors due within one year
 6 
2,872
5,494

Bank and cash balances
  
95
10

  
2,967
5,504

Creditors: amounts falling due within one year
 7 
(828)
(5,506)

Net current assets/(liabilities)
  
 
 
2,139
 
 
(2)

Total assets less current liabilities
  
2,157
57

  

Net assets
  
2,157
57

Page 1


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
REGISTERED NUMBER:04709509

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£000
£000

Capital and reserves
  

Called up share capital 
  
66
66

Capital contribution reserve
 8 
4,469
-

Profit and loss account
 8 
(2,378)
(9)

  
2,157
57


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: 

S W Harding
Director
 
Date: 
5 November 2024

The notes on pages 4 to 11 form part of these financial statements.
Page 2


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Capital contribution reserve
Profit and loss account
Total equity

£000
£000
£000
£000


At 1 January 2022
66
-
1,054
1,120



Loss for the year
-
-
(1,063)
(1,063)



At 1 January 2023
66
-
(9)
57



Loss for the year
-
-
(2,369)
(2,369)

Contribution from parent
-
4,469
-
4,469


At 31 December 2023
66
4,469
(2,378)
2,157


Page 3


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

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:

 
1.2

Going concern

Market Force Information (Europe) Limited is reliant upon continuing support from its ultimate parent company, Marlowe National, LC. The Company's continued losses have created a material uncertainty in relation to the Company's ability to continue as a going concern. The directors are monitoring the performance of the Company and have taken measures to improve the performance which they expect to have an impact in the coming 12 months. 
The Company has received written confirmation from its parent company indicating that they will provide support for a period of at least 12 months from the date of signing these financial statements. The Company also has access to facilities from its ultimate parent company's associated undertakings which may be called upon should they be required. As a result, these financial statements are prepared on the going concern basis.

 
1.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Turnover is derived from three separate services, customer intelligence consulting services, merchandising services and customer contact services. 
Customer intelligence consulting services relates to customer intelligence data gathering which is charged on an occurrence basis when information is validated and delivered to the customer.
Merchandising services relates to the in-store auditing services which is charged on an occurrence basis when the services has been completed.
 
Page 4


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)


1.3
Turnover (continued)


Customer contact services relates to a contact centre for client’s customers to monitor the performance of client’s brands standards and customer satisfaction. 

 
1.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
3
years

 
1.5

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.

The estimated useful lives range as follows:

Fixtures and fittings
-
7
years
Computer equipment
-
3
years
Leasehold improvements
-
5
years

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.

 
1.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Amounts owed by group undertakings are unsecured, interest bearing and repayable on demand.

 
1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Page 5


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.8

Creditors

Short-term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest bearing and repayable on demand.
Creditors falling due after more than one year are initially measured at transaction price and then subsequently at amortised cost.

 
1.9

Foreign currency translation

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

 
1.10

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.

 
1.11

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 6


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.12

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.


2.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified, though the auditor drew attention to note 1.2 to these financial statements which indicates that a material uncertainty exists in relation to the Company's ability to continue as a going concern.

The audit report was signed on 7 November 2024 by Edward Wallis ACA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.


3.


Employees

The average monthly number of employees during the year was 23 (2022 - 26).

Page 7


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Development expenditure

£000



Cost


At 1 January 2023
519


Additions - internal
33



At 31 December 2023

552



Amortisation


At 1 January 2023
519


Amortisation charge for the year
15



At 31 December 2023

534



Net book value



At 31 December 2023
18



At 31 December 2022
-



Page 8


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Leasehold improvements
Total

£000
£000
£000
£000





At 1 January 2023
72
4
121
197


Disposals
(72)
(4)
(121)
(197)



At 31 December 2023

-
-
-
-





At 1 January 2023
50
2
86
138


Charge for the year on owned assets
-
1
-
1


Charge for the year on financed assets
14
-
24
38


Disposals
(64)
(3)
(110)
(177)



At 31 December 2023

-
-
-
-



Net book value



At 31 December 2023
-
-
-
-



At 31 December 2022
22
3
34
59


6.


Debtors

2023
2022
£000
£000


Trade debtors
236
506

Amounts owed by group undertakings
2,412
4,868

Other debtors
-
7

Prepayments and accrued income
224
113

2,872
5,494


Page 9


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£000
£000

Trade creditors
283
173

Amounts owed to group undertakings
-
4,948

Other taxation and social security
331
288

Obligations under finance lease and hire purchase contracts
14
30

Accruals and deferred income
200
67

828
5,506



8.


Reserves

Capital contribution reserve

Subsequent to the year end, the directors have finalised the rationalisation of the intercompany loan position effective as at the acquisition date of the Market Force Group by Marlowe National, LC. The result of this is that the intercompany loan due from Market Force Information (Europe) Limited to Market Force Acquisition Sub Limited, has been reflected as a capital contribution which is not repayable.


9.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£000
£000


Not later than one year
-
151

Later than one year and not later than five years
-
63

-
214

As at July 2023, the Company exited its lease and settled the commitment.


10.


Controlling party

The immediate parent company is Market Force Acquisition Sub Limited, a company incorporated in the United Kingdom. This is the parent of the smallest group for which consolidated financial statements are drawn up.
The ultimate parent company and controlling party is Marlowe National, LC, a company incorporated in the USA.

Page 10


 
MARKET FORCE INFORMATION (EUROPE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Post balance sheet events

The directors have finalised the rationalisation of the intercompany loans, which resulted in capital contribution from parent (as descibed in note 8) and loan write off of £1,920,898 through the profit and loss, with an effective date of 16 June 2023. This is an adjusting event and has been appropriately recorded in these financial statements.
There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved. 
 
Page 11