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REGISTERED NUMBER: 13055559 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ME&U UK TRADING LTD

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ME&U UK TRADING LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: A P Brown
D E Smith
L Y K Teo





REGISTERED OFFICE: c/o Irwin Mitchell LLP
Riverside East
2 Millsands
Sheffield
South Yorkshire
S3 8DT





REGISTERED NUMBER: 13055559 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
as restated
(Unaudited)
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - 62,668

CURRENT ASSETS
Debtors 5 1,216,695 810,134
Cash at bank 172,245 585,999
1,388,940 1,396,133
CREDITORS
Amounts falling due within one year 6 7,612,275 5,628,779
NET CURRENT LIABILITIES (6,223,335 ) (4,232,646 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,223,335

)

(4,169,978

)

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 8 133,378 17,841
Retained earnings 8 (6,356,714 ) (4,187,820 )
(6,223,335 ) (4,169,978 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





L Y K Teo - Director


ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ME&U UK Trading Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as Mr Yum Holdings Pty Ltd, the Parent Company, will continue to support the Company as required for a minimum of 12 months and 1 day from the date of the signing of the Audit Report.

Related party exemption
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.

Turnover
Turnover represents revenue from contracts with customers and transaction fees. All turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Contract revenue is recognised at the point in time that performance obligations have been met and transaction fees are recognised at the point in time that the service is delivered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over remaining term of lease
Plant and machinery etc - 33% on cost and 12.5% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The Company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share based payments
Equity-settled share-based compensation benefits are provided to employees.

Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for services.

The cost of equity-settled transactions is measured at fair value on grant date. Fair value is independently determined using the Black Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the Company receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions.

The cost of equity-settled transactions is recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.

The share based payment expense is recognised on a reasonable allocation of the group expense.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 24 ) .

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 6,913 72,304 79,217
Disposals (6,913 ) (72,304 ) (79,217 )
At 31 December 2023 - - -
DEPRECIATION
At 1 January 2023 1,728 14,821 16,549
Charge for year 1,729 10,465 12,194
Eliminated on disposal (3,457 ) (25,286 ) (28,743 )
At 31 December 2023 - - -
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 5,185 57,483 62,668

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
(Unaudited)
£    £   
Trade debtors 2,457 7,234
Amounts owed by group undertakings 9,322 9,600
Other debtors 1,204,916 793,300
1,216,695 810,134

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
(Unaudited)
£    £   
Trade creditors 21,842 64,797
Amounts owed to group undertakings 6,455,635 5,168,682
Other creditors & accruals 1,134,798 395,300
7,612,275 5,628,779

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
as restated
(Unaudited)
£    £   
Within one year 67,200 148,316
Between one and five years 28,000 -
95,200 148,316

8. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 January 2023 (4,396,665 ) 17,841 (4,378,824 )
Prior year adjustment 208,845 208,845
(4,187,820 ) (4,169,979 )
Deficit for the year (2,170,619 ) (2,170,619 )
Share option charge - 117,262 117,262
Forfeited share options 1,725 (1,725 ) -
At 31 December 2023 (6,356,714 ) 133,378 (6,223,336 )

Other reserves relate entirely to share based payment transactions.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Florentin-Lee (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

As stated above, the Report of the Auditors was unqualified. It did however contain the following modification:-

"Other matters which we are required to address
The financial statements for the previous accounting period were not audited and accordingly we do not express an opinion on them."

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"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 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 a Report of the Auditors 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."

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

10. SHARE-BASED PAYMENT TRANSACTIONS

The company has an employee share option plan ('ESOP'), approved by the shareholders, that enabled the Board to grant options to eligible participants. Vesting of any options is subject to the satisfaction of vesting conditions as determined by the Board.

Set out below are summaries of options granted under the plan:

Number of OptionsWeighted average exercise price (AUS$)

Outstanding at 1 January 202333,5000.07117
Granted during the period68,9440.00001
Forfeited during the period(1,988)0.00001
Outstanding at 31 December 2023100,4560.02374
Exercisable at 31 December 202325,8650.04520

The fair values of options granted were determined using a Black Scholes model that takes into account factors specific to the share incentive plans, such as the vesting period.

In total, £117,262 (2022: £11,701) of employee remuneration expense (all of which related to equity-settled share-based payment transactions) has been included in profit and loss and credited to to share option reserve.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

The ultimate parent undertaking is Mr Yum Holdings Pty Ltd, a company incorporated in Australia. The registered office address is Level 4, 108-112 Langridge Sr, Collingwood, VIC 3066.

The largest entity preparing consolidated financial statements is Mr Yum Holdings Pty Ltd. Consolidated accounts are not publicly available.