Marketshare Partners EMEA, Limited
Annual Report and Financial Statements
For the year ended 31 December 2021
Company Registration No. 06896768 (England and Wales)
Marketshare Partners EMEA, Limited
Company Information
Directors
W J Flynn
(Appointed 26 January 2022)
M E Horsey
(Appointed 26 January 2022)
Company number
06896768
Registered office
One Park Lane
Leeds
LS3 1EP
Auditor
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Business address
11150 Santa Monica Boulevard, 5th Floor
Los Angeles
USA
CA 90025
Marketshare Partners EMEA, Limited
Contents
Page
Directors' report
1 - 2
Independent auditor's report
3 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 18
Marketshare Partners EMEA, Limited
Directors' Report
For the year ended 31 December 2021
Page 1
The directors present their annual report and financial statements for the year ended 31 December 2021.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
K E Monroe
(Resigned 27 January 2022)
W J Flynn
(Appointed 26 January 2022)
M E Horsey
(Appointed 26 January 2022)
Auditor
The auditor, Moore Kingston Smith LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s
auditor
is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s
auditor
is aware of that information.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Marketshare Partners EMEA, Limited
Directors' Report (Continued)
For the year ended 31 December 2021
Page 2
On behalf of the board
M E Horsey
Director
20 December 2022
Marketshare Partners EMEA, Limited
Independent Auditor's Report
To the Members of Marketshare Partners EMEA, Limited
Page 3
Opinion
We have audited the financial statements of Marketshare Partners EMEA, Limited (the 'company') for the year ended 31 December 2021 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, including significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the
Auditor's
responsibilities for the audit of the
financial statements
section of our report. We are independent of the
company
in accordance with the ethical requirements that are relevant to our audit of the
financial statements
in the UK, including the FRC’s Ethical Standard
, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Marketshare Partners EMEA, Limited
Independent Auditor's Report (Continued)
To the Members of Marketshare Partners EMEA, Limited
Page 4
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit
:
-
the information given in the Directors'
R
eport for the financial year for which the financial statements are prepared is consistent with the financial statements
; and
-
the Directors' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie
d
material misstatements in the directors'
r
eport
.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of
remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and take advantage of the small companies exemption from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the Directors'
R
esponsibilities
S
tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of
financial statements
that are free from material misstatement, whether due to fraud or error.
In preparing the
financial statements
, the
directors are
responsible for assessing the company
'
s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the
directors
either
intend
to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Marketshare Partners EMEA, Limited
Independent Auditor's Report (Continued)
To the Members of Marketshare Partners EMEA, Limited
Page 5
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the
financial statements
as a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance
,
but is not a guarantee that an audit conducted in accordance with
ISAs (UK)
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements
.
As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company’s internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
-
Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Marketshare Partners EMEA, Limited
Independent Auditor's Report (Continued)
To the Members of Marketshare Partners EMEA, Limited
Page 6
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.
Our approach was as follows:
-
We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.
-
We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.
-
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
-
We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.
-
Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Andrew Grieve (Senior Statutory Auditor)
for and on behalf of Moore Kingston Smith LLP
21 December 2022
Chartered Accountants
Statutory Auditor
6th Floor
9 Appold Street
London
EC2A 2AP
Marketshare Partners EMEA, Limited
Statement of Comprehensive Income
For the year ended 31 December 2021
Page 7
2021
2020
Notes
£
£
Turnover
3
5,230,834
5,285,792
Cost of sales
(3,848,197)
(4,467,134)
Gross profit
1,382,637
818,658
Administrative expenses
(1,205,002)
(633,655)
Profit before taxation
177,635
185,003
Tax on profit
7
Profit for the financial year
177,635
185,003
The Profit and Loss Account has been prepared on the basis that all operations are continuing operations.
Marketshare Partners EMEA, Limited
Balance Sheet
As at 31 December 2021
Page 8
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
8
19,615
33,503
Current assets
Debtors
10
1,277,521
1,382,627
Cash at bank and in hand
1,595,029
1,122,757
2,872,550
2,505,384
Creditors: amounts falling due within one year
11
(2,080,385)
(1,904,742)
Net current assets
792,165
600,642
Net assets
811,780
634,145
Capital and reserves
Called up share capital
13
200,001
200,001
Share premium account
6,059,308
6,059,308
Profit and loss reserves
(5,447,529)
(5,625,164)
Total equity
811,780
634,145
The financial statements were approved by the board of directors and authorised for issue on 20 December 2022 and are signed on its behalf by:
M E Horsey
Director
Company Registration No. 06896768
Marketshare Partners EMEA, Limited
Statement of Changes in Equity
For the year ended 31 December 2021
Page 9
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2020
200,001
6,059,308
(5,810,167)
449,142
Year ended 31 December 2020:
Profit and total comprehensive income for the year
-
-
185,003
185,003
Balance at 31 December 2020
200,001
6,059,308
(5,625,164)
634,145
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
-
177,635
177,635
Balance at 31 December 2021
200,001
6,059,308
(5,447,529)
811,780
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2021
Page 10
1
Accounting policies
Company information
Marketshare Partners EMEA, Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
One Park Lane, Leeds, LS3 1EP.
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.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares
publicly available consolidated financial statements
, including this company,
which are
intended to give a true and fair view of the assets, liabilities,
financial position and profit or loss
of the group
.
T
he company has
therefore
taken advantage of
e
xemptions from the following disclosure requirements:
The financial statements of the company are consolidated in the financial statements of TransUnion. These consolidated financial statements are available from
555 West Adams Street, Chicago, 66061 Illiois, United States
.
The company has taken advantage of the exemption under section 401 of the Companies Act 2006 not
to prepare consolidated accounts. The financial statements present information about the company as an individual entity and
not about its group.
1.2
Going concern
At 31 December
true
202
1
the company had net
assets
of
£
811,870
. The company
is dependent upon the support of its parent company which has agreed to
provide continued support for at least a year from the signing of these financial statements and as such the financial statements have been drawn up on the going concern basis. The financial statements do not reflect any adjustments that would be required if this support was withdrawn.
The
directors
continue to monitor the risk posed by the ongoing COVID 19 pandemic. Despite the variants that have occurred since the start of the pandemic, the result of actions by governments in providing vaccines and
the company's
owns actions such as office procedures and remote working have ensured there has been
no
significant impact. The
directors
are satisfied that any ongoing adverse impacts can continue to be managed and will not affect the longer term prosperity of the business. An adequate financial buffer remains in place to address any potential continuing financial shock.
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2021
1
Accounting policies
(Continued)
Page 11
1.3
Turnover
Turnover represents the fair value of
software and consultancy
services provided during the period to clients. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and is based on
software and consultancy
services provided and expenses incurred, but excludes VAT.
Revenue from contracts for the provision of software subscription is recognized by reference to stage of completion at the point the license is granted as the performance obligations under the license are considered to be transferred. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Revenue for the provision of professional services is recognized by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Over the period of the lease
Computer & office equipment
over 3 years at 33.33% per annum on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2021
1
Accounting policies
(Continued)
Page 12
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
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.
1.7
Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans and other debtors 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.
Creditors
Short term trade creditors and other current creditors payable on demand are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
1.8
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.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2021
1
Accounting policies
(Continued)
Page 13
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.13
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2021
Page 14
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The directors do not consider there to be any key estimates or judgements applicable to the company.
3
Turnover and other revenue
An analysis of the company's turnover is as follows:
2021
2020
£
£
Turnover analysed by geographical market
United Kingdom
1,180,662
2,388,960
Europe
2,581,175
2,896,832
USA
1,468,997
-
5,230,834
5,285,792
4
Operating profit
2021
2020
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
329,206
(367,723)
Depreciation of owned tangible fixed assets
39,098
44,671
Operating lease charges
428,187
391,322
5
Auditor's remuneration
2021
2020
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
22,554
22,500
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2021
Page 15
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Direct
29
24
2021
2020
£
£
Wages and salaries
3,253,907
2,501,012
Social security costs
492,437
402,971
Pension costs
101,853
82,671
3,848,197
2,986,654
7
Taxation
2021
2020
£
£
Profit before taxation
177,635
185,003
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2020: 19.00%)
33,751
35,151
Tax effect of expenses that are not deductible in determining taxable profit
8,715
9,899
Tax effect of utilisation of tax losses not previously recognised
(39,972)
(44,677)
Permanent capital allowances in excess of depreciation
(2,494)
(373)
Taxation charge for the year
-
-
The company has estimated losses of £5.
4
m (20
20
- £5.
5
m) available for carry forward against future trading profits.
A deferred tax asset has not been recognised in respect of these losses as the company does not anticipate significant taxable profits to arise within the immediate future.
The estimated value of the deferred tax asset not recognised measured at a rate of
25
% (20
20
: 1
9
%) is £1.
35
m (20
20
: £1.
0
m).
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2021
Page 16
8
Tangible fixed assets
Leasehold improvements
Computer & office equipment
Total
£
£
£
Cost
At 1 January 2021
223,353
223,353
Additions
25,210
25,210
At 31 December 2021
223,353
25,210
248,563
Depreciation and impairment
At 1 January 2021
189,850
189,850
Depreciation charged in the year
33,503
5,595
39,098
At 31 December 2021
223,353
5,595
228,948
Carrying amount
At 31 December 2021
19,615
19,615
At 31 December 2020
33,503
33,503
9
Subsidiaries
The company owns the entire issued ordinary share capital of Neustar Hong Kong Limited, incorporated in Hong Kong.
Details of the company's subsidiaries at 31 December 2021 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Neustar Hong Kong Limited
Hong Kong
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Neustar Hong Kong Limited
17,229
2,073
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2021
Page 17
10
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
712,024
1,165,875
Amounts owed by group undertakings
171,409
1,520
Other debtors
123,863
28,892
Prepayments and accrued income
270,225
186,340
1,277,521
1,382,627
11
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
2,369
157,618
Amounts owed to group undertakings
777,341
Taxation and social security
35,585
Other creditors
194,323
169,178
Accruals and deferred income
1,848,108
800,605
2,080,385
1,904,742
12
Retirement benefit schemes
2021
2020
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
101,853
82,671
The company operates a defined contribution pension scheme for all qualifying employees.
The assets of the scheme are held separately from those of the company in an independently administered fund.
13
Share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200,001
200,001
200,001
200,001
MARKETSHARE PARTNERS EMEA, LIMITED
Marketshare Partners EMEA, Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
For the year ended 31 December 2021
Page 18
14
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2021
2020
£
£
Within one year
278,800
286,947
15
Related party transactions
The company has taken advantage of the exemption from disclosing transactions with members within a wholly owned group.
No directors remuneration was payable by the company to the director during the year for their services to the company. The director, who is also a director of other group companies, is remunerated elsewhere in the group.
16
Ultimate controlling party
The company is controlled by its ultimate parent company, TransUnion
(20
20
: Marketshare Partners LLC), a company incorporated in
the United States
. Consolidated financial statements of the ultimate parent company can be obtained from
555 West Adams Street, Chicago, 66061 Illiois, United States
.
2021-12-31
2021-01-01
false
CCH Software
CCH Accounts Production 2022.300
No description of principal activity
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