Marex FX Limited
Registered name: MAREX FX LIMITED
Part of Marex UK Holdings Limited groupMarex FX Limited made £29m revenue and £8.8m profit in the year to 31 Mar 2023.
Marex FX Limited’s revenue grew 106% to £29m in the year to 31 Mar 2023, with £8.8m profit and 58 employees. The company is classified under “security and commodity contracts dealing activities” and is based in London; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 8 yrs · since 2018
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2022 | 31 Mar 2023 |
|---|---|---|
| Disclosure | Full P&L | Full P&L |
| Profit & loss | ||
| Revenue (turnover) | £14.1m | £29m |
| Cost of sales | £1.8m | £4.3m |
| Gross profit | £12.2m | £24.7m |
| Operating profit | £2.3m | £10.4m |
| Profit before tax | £1.9m | £10.8m |
| Profit after tax | £1.5m | £8.8m |
| Profit (best available) | £1.5m | £8.8m |
| Staff costs | £7.2m | £13.1m |
| Employees (average) | 48 | 58 |
| Ratios | ||
| Profit margin | 10.3% | 30.4% |
| Gross margin | 87% | 85.2% |
| Revenue per employee | £293k | £501k |
| Profit per employee | £30.2k | £152k |
| Growth (year on year) | ||
| Revenue growth | — | ▲106.1% |
| Profit growth | — | ▲509% |
| Headcount growth | — | ▲20.8% |
| Balance sheet — indirect signals, not revenue | ||
| Cash at bank | £35.3m | £63.1m |
| Net assets | £27.2m | £35.9m |
| Fixed assets | £13.4m | £13.7m |
| Current assets | £45m | £75.9m |
| Debtors | £9.7m | £12.9m |
| Deferred income | £4m | £3.7m |
| Source | Accounts · bulk data Dec 2023 | Accounts · bulk data Dec 2023 |
How the business works
- Profit margin
- 30.4%
- Profit ÷ revenue.
- Gross margin
- 85.2%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £501k
- Revenue ÷ average employees.
- Profit per employee
- £152k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 47.3%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 12.8%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 44.4%
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- ▲32%
- Now £35.9m
- Cash at bank
- ▲78%
- Now £63.1m
- Headcount
- ▲21%
- Now 58
- Deferred income
- ▼8%
- Now £3.7m
- Fixed assets
- ▲2%
- Now £13.7m
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- Marex UK Holdings Limitedultimate parent75–100%
- Spectron Services Limited75–100%
- Tangent Trading Holdings Limited75–100%
- Darton Group Limited75–100%
- Darton Commodities Ltd.75–100%
- Darton Ltd.75–100%
- Marex Group Limited75–100%
- Marex UK Holdings Limited75–100%
- Marex FX Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (7)
- HPC Investment Services LimitedFigures not disclosed
- Marex FinancialFigures not disclosed
- Marex Prime Services LimitedFigures not disclosed
- Marex Spectron International LimitedFigures not disclosed
- Spectron Services LimitedFigures not disclosed
- W. S. (Nominees) LimitedFigures not disclosed
- Winterflood Gilts LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Mar 2023 (profit £8.8m), from the Companies House accounts bulk data published Dec 2023. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.