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Registered number: 08913346









MEKETA INVESTMENTS LONDON LTD









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
MEKETA INVESTMENTS LONDON LTD
 
 
COMPANY INFORMATION


Directors
E Constantino 
S McCourt 




Company secretary
Vistra Company Secretaties Limited



Registered number
08913346



Registered office
Suite 1 7th Floor
50 Broadway

London

SW1H 0BL




Independent auditor
Hillier Hopkins LLP
Chartered Accountants & Statutory Auditor

45 Pall Mall

London

SW1Y 5JG





 
MEKETA INVESTMENTS LONDON LTD
 

CONTENTS



Page
Strategic Report
 
 
1
Directors' Report
 
 
2 - 3
Independent Auditor's Report
 
 
4 - 7
Statement of Comprehensive Income
 
 
8
Balance Sheet
 
 
9
Statement of Changes in Equity
 
 
10
Statement of Cash Flows
 
 
11
Analysis of Net Debt
 
 
12
Notes to the Financial Statements
 
 
13 - 20


 
MEKETA INVESTMENTS LONDON LTD
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction
 
The principal activity of the Company is the provision of consultancy and advisory services.

Business review
 
During the year ending 31 December 2024 the turnover increased to £332,939 (2023 - £308,017). Net assets stood at £461,090 as of 31 December 2024 (2023 - £448,356).

Principal risks and uncertainties
 
The Board carefully considers the principal risks of the Company and seeks to mitigate these risks through continual and regular reviews.
 
The Company retains cash in good years and hence the balance sheet shows significant levels of cash as at the year end. The company also has the support of its parent company which, without creating a contractual obligation, has stated its intention to provide sufficient funds to cover fixed overheads for several years even in the event that there are no further revenues.

Financial key performance indicators
 
The Board monitors the Company's performance through the use of regular financial information and management reports.
The Board particularly focuses on the Company's levels of profitability and financial strength.

Directors' statement of compliance with duty to promote the success of the Company
 
The Directors of the Company must act in in accordance with a set of general duties.  These duties are detailed in section 172 of the UK Companies Act 2006, summarized below.
“A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and, in doing so have regard (amongst other matters) to:


This report was approved by the board and signed on its behalf.



................................................
S McCourt
Director

Date: 6 April 2025

Page 1

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

make judgments 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £12,639 (2023 - £11,862).

No dividends were declared during the year (2023 - £nil)

Directors

The directors who served during the year were:

E Constantino 
S McCourt 

Future developments

The Directors plan to continue the focus of the business on manager research. There are no expected future developments which will imapct this.

Greenhouse gas emissions, energy consumption and energy efficiency action

The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.

Page 2

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditor

The auditor, Hillier Hopkins LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
S McCourt
Director

Date: 6 April 2025

Page 3

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEKETA INVESTMENTS LONDON LTD
 

Opinion


We have audited the financial statements of Meketa Investments London Ltd (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 2024 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.


Basis for opinion


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 United Kingdom, including the Financial Reporting Council'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.


Page 4

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEKETA INVESTMENTS LONDON LTD (CONTINUED)


Other information


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 ReportOur 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.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have 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 identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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.


Page 5

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEKETA INVESTMENTS LONDON LTD (CONTINUED)


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.


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 informed and limited by an assessment of the following:

the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management:

the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management, about their own identification and assessment of the risks of irregularities;

any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to: 

°identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

°detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

°the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in,
focusing on provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and
relevant tax legislation.
 


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
Page 6

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEKETA INVESTMENTS LONDON LTD (CONTINUED)


The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Use of our report
 

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 2006Our 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.





Michael Jacoby FCA (Senior Statutory Auditor)
  
for and on behalf of
Hillier Hopkins LLP
 
Chartered Accountants
Statutory Auditor
  
45 Pall Mall
London
SW1Y 5JG

14 April 2025
Page 7

 
MEKETA INVESTMENTS LONDON LTD
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
332,939
308,017

Gross profit
  
332,939
308,017

Administrative expenses
  
(317,085)
(293,350)

Operating profit
 5 
15,854
14,667

Interest payable and similar expenses
 9 
90
-

Profit before tax
  
15,944
14,667

Tax on profit
 10 
(3,305)
(2,805)

Profit for the financial year
  
12,639
11,862

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 13 to 20 form part of these financial statements.

Page 8

 
MEKETA INVESTMENTS LONDON LTD
REGISTERED NUMBER: 08913346

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 11 
380,270
334,615

Cash at bank and in hand
 12 
102,310
131,559

  
482,580
466,174

Creditors: amounts falling due within one year
 13 
(21,585)
(17,818)

Net current assets
  
 
 
460,995
 
 
448,356

Total assets less current liabilities
  
460,995
448,356

  

Net assets
  
460,995
448,356


Capital and reserves
  

Called up share capital 
 14 
100
100

Share premium account
 15 
199,999
199,999

Profit and loss account
 15 
260,896
248,257

  
460,995
448,356


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S McCourt
Director

Date: 6 April 2025

The notes on pages 13 to 20 form part of these financial statements.

Page 9

 
MEKETA INVESTMENTS LONDON LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
100
199,999
236,395
436,494


Comprehensive income for the year

Profit for the year
-
-
11,862
11,862


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
11,862
11,862


Total transactions with owners
-
-
-
-



At 1 January 2024
100
199,999
248,257
448,356


Comprehensive income for the year

Profit for the year
-
-
12,639
12,639


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
12,639
12,639


Total transactions with owners
-
-
-
-


At 31 December 2024
100
199,999
260,896
460,995


The notes on pages 13 to 20 form part of these financial statements.

Page 10

 
MEKETA INVESTMENTS LONDON LTD
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
12,639
11,862

Adjustments for:

Interest paid
(90)
-

Taxation charge
3,210
2,805

(Increase)/decrease in debtors
(499)
2,368

(Increase) in amounts owed by groups
(45,156)
(22,139)

Increase/(decrease) in creditors
3,362
(25,569)

Corporation tax (paid)
(2,805)
(3,492)

Net cash generated from operating activities

(29,339)
(34,165)



Cash flows from financing activities

Interest paid
90
-

Net cash used in financing activities
90
-

Net (decrease) in cash and cash equivalents
(29,249)
(34,165)

Cash and cash equivalents at beginning of year
131,559
165,724

Cash and cash equivalents at the end of year
102,310
131,559


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
102,310
131,559

102,310
131,559


The notes on pages 13 to 20 form part of these financial statements.

Page 11

 
MEKETA INVESTMENTS LONDON LTD
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024




At 1 January 2024
Cash flows
At 31 December 2024
£

£

£

Cash at bank and in hand

131,559

(29,249)

102,310


131,559
(29,249)
102,310

The notes on pages 13 to 20 form part of these financial statements.

Page 12

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Meketa Investments London Limited is a limited company incorporated in the United Kingdom, registered in England and Wales. The registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL. 
The principal activity of the Company is the provision of consultancy and advisory services.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

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'.

 
2.3

Revenue

Revenue is recognised in respect of consultancy and advisory services supplied to group companies during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised when the right to that income is contractually due.

Page 13

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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.


 
2.7

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.

 
2.8

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.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.9

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.

Page 14

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. In this·regard, the Directors believe that the critical accounting policies where judgements or estimations are necessarily applied are summarised below.
Taxation
The Company establishes provisions based on reasonable estimates, for possible liabilities payable to the tax authorities of the respective countries in which the company and its employees operate. The amount of such provisions is based on various factors, such as experience from previous periods and interpretations of tax regulations.


4.


Turnover

All turnover arose within the rest of the world.


5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange differences
(53)
15

Other operating lease rentals
34,840
34,320

Page 15

 
MEKETA INVESTMENTS LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor and its associates:


2024
2023
£
£

Fees payable to the Company's auditor and its associates in respect of:

The auditing of accounts of associates of the Company
5,550
5,225

Preparation of statuory accounts
1,500
1,425

Taxation compliance services
1,150
1,025

All fees payable for non-audit services
8,200
7,675




7.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
236,295
190,030

Social security costs
3,666
10,687

239,961
200,717


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
1
1

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MEKETA INVESTMENTS LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
236,295
190,030

236,295
190,030


The highest paid director received remuneration of £198,807 (2023 - £198,374).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £5,922 (2023 - £NIL).


9.


Interest payable and similar expenses

2024
2023
£
£


Other interest payable
(90)
-

(90)
-

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MEKETA INVESTMENTS LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
3,134
2,805

Adjustments in respect of previous periods
171
-


3,305
2,805


Total current tax
3,305
2,805

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
15,944
14,667


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2023 - 19%)
3,986
2,787

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
147
18

Adjustments to tax charge in respect of prior periods
171
-

Marginal relief
(999)
-

Total tax charge for the year
3,305
2,805


11.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
370,983
325,827

Other debtors
1,871
1,600

Prepayments and accrued income
7,416
7,188

380,270
334,615


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MEKETA INVESTMENTS LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
102,310
131,559

102,310
131,559



13.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,074
-

Corporation tax
3,076
2,761

Other taxation and social security
2,285
5,282

Accruals and deferred income
8,150
9,775

21,585
17,818



14.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



15.


Reserves

Share premium account

The share premium account includes the premium received on the issue of the Company's share capital.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

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MEKETA INVESTMENTS LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

16.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
12,000
11,440

12,000
11,440


17.


Related party transactions

During the period, the company incurred the following transactions with related parties.


2024
2023
£
£

Sales to parent company
332,939
308,017
Purchases by parent on behalf of company
-
15,608
Key management personnel compensation
239,961
200,717
572,900
524,342

At the balance sheet date370,983was due from group companies. 


18.


Controlling party

The immediate and ultimate parent entity is Meketa Investment Group, Inc., a company registered in Massachusetts, United States of America.
The smallest and largest group in which the results of the Company are included are the consolidated accounts of Meketa Investment Group, Inc,. 
The ultimate controlling party is J Meketa by virtue of being the majority shareholder of the ultimate parent entity Meketa Investment Group, Inc.

 
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