Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31falsetrue2024-01-01falsethe provision of high quality services in relation to coupons and vouchers for fast moving consumer brands, grocery retailers, airlines and publishers3028false 03262245 2024-01-01 2024-12-31 03262245 2023-01-01 2023-12-31 03262245 2024-12-31 03262245 2023-12-31 03262245 c:Director3 2024-01-01 2024-12-31 03262245 d:Buildings d:ShortLeaseholdAssets 2024-01-01 2024-12-31 03262245 d:PlantMachinery 2024-01-01 2024-12-31 03262245 d:PlantMachinery 2024-12-31 03262245 d:PlantMachinery 2023-12-31 03262245 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03262245 d:FurnitureFittings 2024-01-01 2024-12-31 03262245 d:FurnitureFittings 2024-12-31 03262245 d:FurnitureFittings 2023-12-31 03262245 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03262245 d:OfficeEquipment 2024-01-01 2024-12-31 03262245 d:OfficeEquipment 2024-12-31 03262245 d:OfficeEquipment 2023-12-31 03262245 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03262245 d:ComputerEquipment 2024-01-01 2024-12-31 03262245 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03262245 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 03262245 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 03262245 d:Goodwill 2024-12-31 03262245 d:Goodwill 2023-12-31 03262245 d:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 03262245 d:CurrentFinancialInstruments 2024-12-31 03262245 d:CurrentFinancialInstruments 2023-12-31 03262245 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03262245 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03262245 d:ShareCapital 2024-12-31 03262245 d:ShareCapital 2023-12-31 03262245 d:SharePremium 2024-12-31 03262245 d:SharePremium 2023-12-31 03262245 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03262245 d:RetainedEarningsAccumulatedLosses 2024-12-31 03262245 d:RetainedEarningsAccumulatedLosses 2023-12-31 03262245 c:OrdinaryShareClass1 2024-01-01 2024-12-31 03262245 c:OrdinaryShareClass1 2024-12-31 03262245 c:OrdinaryShareClass1 2023-12-31 03262245 c:FRS102 2024-01-01 2024-12-31 03262245 c:Audited 2024-01-01 2024-12-31 03262245 c:FullAccounts 2024-01-01 2024-12-31 03262245 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03262245 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03262245 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 03262245 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 03262245 2 2024-01-01 2024-12-31 03262245 d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 03262245 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 03262245 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-01-01 2024-12-31 03262245 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03262245









NCH MARKETING SERVICES LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024







































 
NCH MARKETING SERVICES LIMITED
REGISTERED NUMBER: 03262245

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
63,630
192,099

Tangible assets
 6 
26,093
25,747

  
89,723
217,846

Current assets
  

Debtors: amounts falling due within one year
 7 
3,252,073
5,188,403

Cash at bank and in hand
 8 
4,112,579
2,957,456

  
7,364,652
8,145,859

Creditors: amounts falling due within one year
 9 
(5,466,486)
(6,359,397)

Net current assets
  
 
 
1,898,166
 
 
1,786,462

Total assets less current liabilities
  
1,987,889
2,004,308

  

Net assets
  
1,987,889
2,004,308


Capital and reserves
  

Called up share capital 
 10 
6
6

Share premium account
 11 
2,267,324
2,267,324

Profit and loss account
 11 
(279,441)
(263,022)

  
1,987,889
2,004,308


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: 


................................................
Charles-Henri Rossignol
Director

Date: 8 July 2025

The notes on pages 3 to 14 form part of these financial statements.
Page 1

 
NCH MARKETING SERVICES LIMITED
REGISTERED NUMBER: 03262245
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

NCH Marketing Services Limited is a company registered in England and Wales, registration number 03262245. The registered office is Weldon House, Corby Gate Business Park, Priors Haw Road, Corby, Northamptonshire, England, NN17 5JG.

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 financial statements have been prepared on the going concern basis, which assumes the Company will remain in existence for at least the 12-month period from the date the financial statements are approved by the directors. 

The directors acknowledge the results for the year. They also acknowledge the impact from the high cost base in the UK & Poland which has led to high processing costs. The directors believe that Verso is the mitigating solution to these cost implications. In 2024 one of the leading retailers in the UK was fully launched on Verso, while another major retailer has begun it's journey with the platform.
The matters disclosed above have been considered by the directors in determining the appropriateness of the going concern basis of preparation in the financial statements. 



Page 3

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

All turnover, which is stated net of value added tax, is in respect of coupon clearing and data management and other services provided during the year.  In the opinion of the directors this represents one class of business.  Turnover is recognised upon the processing of coupons and the delivery of other marketing and media services.  All turnover is to external third parties.
 
        

 
2.5

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.

Page 4

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

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.

Page 5

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.10

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:

Computer software
-
3
years

Page 6

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

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:

Short-term leasehold property
-
20% Included in fixtures and fittings
Plant and machinery
-
10%
Fixtures and fittings
-
15%
Office furniture
-
20% Included in fixtures and fittings
Computer equipment
-
33.3%

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Page 7

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Page 8

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make assumptions concerning the future and estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements. The estimates and assumptions are based on historical experience and expectation of future events and are set out below:
Judgements in applying accounting policies
The directors must judge whether all of the conditions required for the turnover to be recognised in profit or loss for the year, as set out in note 2.4 above have been met.
Sources of estimation uncertainty:
Provisions
The Company has recognised provisions for revenue credits, impairment of trade receivables, and employee's bonuses in its financial statements which requires management to make judgements. The judgements, estimates and associated assumptions necessary to calculate these provisions are based on historical experience and other reasonable factors and disclosed in the notes to the accounts as appropriate.
Changes in estimates of useful economic lives
The Company assesses the remaining useful lives of leasehold improvements, plant and machinery on an annual basis and, if expectations differ from previous estimates, changes are accounted for in the estimates of useful lives. Estimated useful lives are disclosed in the accounting policy above.


4.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 28).

Page 9

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Intangible assets






Computer software
Goodwill
Total

£
£
£



Cost


At 1 January 2024
1,081,067
7,705,494
8,786,561


Additions
8,985
-
8,985



At 31 December 2024

1,090,052
7,705,494
8,795,546



Amortisation


At 1 January 2024
888,969
7,705,494
8,594,463


Charge for the year on owned assets
137,453
-
137,453



At 31 December 2024

1,026,422
7,705,494
8,731,916



Net book value



At 31 December 2024
63,630
-
63,630



At 31 December 2023
192,099
-
192,099



Page 10

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
33,170
353,715
294,162
681,047


Additions
-
3,429
7,668
11,097



At 31 December 2024

33,170
357,144
301,830
692,144



Depreciation


At 1 January 2024
33,170
339,027
283,104
655,301


Charge for the year on owned assets
-
3,681
7,069
10,750



At 31 December 2024

33,170
342,708
290,173
666,051



Net book value



At 31 December 2024
-
14,436
11,657
26,093



At 31 December 2023
-
14,688
11,059
25,747


7.


Debtors

2024
2023
£
£


Trade debtors
2,715,763
4,521,911

Amounts owed by group undertakings
40,927
421,043

Other debtors
455,103
178,430

Prepayments and accrued income
40,280
67,019

3,252,073
5,188,403


Page 11

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,112,579
2,957,456

4,112,579
2,957,456



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,233,778
5,062,452

Amounts owed to group undertakings
413,785
566,302

Other taxation and social security
245,445
266,839

Other creditors
282,041
178,720

Accruals and deferred income
291,437
285,084

5,466,486
6,359,397


Page 12

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



567,722 (2023 - 567,722) Ordinary shares of £0.00001 each
6
6



11.


Reserves

Profit and loss account

Represents all current and prior year retained profits and losses, less dividends paid.


12.


Pension commitments

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.

Page 13

 
NCH MARKETING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Related party transactions

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.


14.


Controlling party

The Company is an immediate subsidiary of its ultimate parent company, Cassini SRL, a company incorporated in Belgium. The registered office being Drève des Renards 51, 1180 Brussels Belgium.
The ultimate controlling parties of the Company are Mr Charles-Henri Rossignol and Mr Thibaud Caulier.


15.


Auditors' information

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

The audit report was signed on 8 July 2025 by Ben Beech ACA (Senior statutory auditor) on behalf of Whitings LLP.

 
Page 14