Company registration number 12394359 (England and Wales)
MARITZ UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
MARITZ UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MARITZ UK LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
5,500
-
0
Cash at bank and in hand
1,120,141
1,123,958
1,125,641
1,123,958
Creditors: amounts falling due within one year
5
(9,000)
(7,750)
Net current assets
1,116,641
1,116,208
Creditors: amounts falling due after more than one year
6
(1,120,873)
(1,088,579)
Net (liabilities)/assets
(4,232)
27,629
Capital and reserves
Called up share capital
1,980,344
1,980,344
Profit and loss reserves
(1,984,576)
(1,952,715)
Total equity
(4,232)
27,629

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
RT Ramos
Director
Company registration number 12394359 (England and Wales)
MARITZ UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Maritz UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Collingham House, 6-12 Gladstone Road, Wimbledon, London, SW19 1QT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources through group support to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
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.

MARITZ UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
4,200
-
0
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
5,500
-
0
MARITZ UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
9,000
7,750
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,120,873
1,088,579
7
Provisions for liabilities

Pension costs

 

Defined benefit

 

On 15 January 2020 Maritz UK Limited replaced MaritzCX Limited as principal employer of the Maritz Pension Plan. All legal responsibility for the Plan was transferred to Maritz UK Limited as of this date.

 

The Company operates a Defined Benefit pension plan providing benefits based on final pensionable pay for group staff employees up to 31 March 2006. Benefits under the plan ceased to accrue from this date but the scheme continues as a closed fund with deferred member benefits being met from the fund as they fall due.

 

Under the most recent FRS 102 valuation, using the projected unit method, the value of the plan’s liabilities (the “defined benefit obligation”) amounts to £24,643,000 compared to £25,374,000 for 2023. The fair value of the plan’s assets amounted to £34,172,000 compared to £36,708,000 for 2023. This has resulted in a surplus of £9,529,000 (2023: £11,334,000). This notional surplus has been treated as irrecoverable for the purposes of FRS 102 and has not been brought into the accounts for the period.

 

The assets of the plan are held separately from those of the Company, being invested within a investment portfolio held with BlackRock.

 

In accordance with the agreed recovery plan, there are no annual contributions paid to the plan this year due to a revised Schedule of Contributions and also due to the surplus within the scheme.

 

 

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

MARITZ UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
8
Audit report information
(Continued)
- 5 -
Senior Statutory Auditor:
Charles Ringrose
Statutory Auditor:
BHP LLP
Date of audit report:
31 January 2025
9
Related party transactions

Included within other borrowings is an amount due to Maritz Holdings Inc, the parent company.

10
Non-audit services provided by auditor

In common with many businesses of our size and nature we use our auditor to assist with the preparation of the financial statements.

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