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Company registration number: 12623438
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 30 SEPTEMBER 2023
| MARCUS EVANS EVENTS CANADA LTD
MARCUS EVANS EVENTS CANADA LTD REGISTERED NUMBER:12623438 |  |
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2023
|  | 2023 |  | 2022
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 15,073 |  | 19,671
|  |  | 15,073 |  | 19,671
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 89,756 |  | 62,934 |
Cash at bank and in hand |  | 285,606 |  | 66,421 |
|  | 375,362 |  | 129,355 |
Creditors: amounts falling due within one year |  | (2,087,697) |  | (178,630) |
Net current liabilities |  |  | (1,712,335) |  | (49,275)
Total assets less current liabilities |  |  | (1,697,262) |  | (29,604)
Net liabilities |  |  | (1,697,262) |  | (29,604)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Foreign exchange reserve |  |  | (2,865) |  | (600)
Profit and loss account |  |  | (1,694,497) |  | (29,104)
|  |  | (1,697,262) |  | (29,604)
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:
................................................ M Van Os
Director
Date: 15 September 2025
The notes on pages 3 to 6 form part of these financial statements. Page 1
MARCUS EVANS EVENTS CANADA LTD |  |
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 SEPTEMBER 2023
| Called up share capital | Foreign exchange reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 October 2021 | 100 | - | - | 100
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (29,104) | (29,104)
Currency translation differences | - | (600) | - | (600)
At 1 October 2022 | 100 | (600) | (29,104) | (29,604)
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (1,665,393) | (1,665,393)
Currency translation differences | - | (2,265) | - | (2,265)
At 30 September 2023 | 100 | (2,865) | (1,694,497) | (1,697,262)
| The notes on pages 3 to 6 form part of these financial statements.
Page 2
MARCUS EVANS EVENTS CANADA LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. | General information
Marcus Evans Events Canada Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is 20 Farringdon Street, 11th Floor, London, EC4A 4AB. Its principal place of business is 999 de Maisonneuve West, Montreal, QC, Canada, H3A 3L4. 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
Company has net liabilities of £1,697,263. However, within total liabilities of £2,087,697 there are intercompany creditors of £1,283,143. Marcus Evans Holdings (IOM) Ltd has confirmed that currently, as a major creditor of the UK company, it will not demand repayment of the amounts outstanding until such a time that the Company is able to make repayments without having a detrimental impact on the Company. The period for not demanding payment is at least 12 months from the date of signing these financial statements. Marcus Evans Holdings (IOM) Ltd has also confirmed that it will currently continue to provide financial resources as may be required for the Company to meet its financial commitments as they fall due for at least twelve months from the date of approval of these financial statements. At the time of approving the financial statements, the directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and Company also has group financial support available in case of financial difficulties. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional currency is the Canadian Dollar, being the currency of the primary economic environment in which the Company operates. The Company's 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. Page 3
MARCUS EVANS EVENTS CANADA LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 2.Accounting policies (continued)
| 2.4 | Revenue
The Company provides support to its fellow group entities by providing staff to sell tickets for events held across other jurisdictions. Costs incurred by this company are recharged to the relevant entities based on expenses incurred throughout the year.
| 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.
| 2.6 | 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:
|  |  |  | Leasehold improvements | - |  | 33% straight line
|  |  |  | Office equipment | - |  | 33% straight line
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.
| 2.7 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
3. | Employees
The average monthly number of employees, including directors, during the year was 65 (2022 - 0). Page 4
MARCUS EVANS EVENTS CANADA LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
4. | Tangible fixed assets
|  | Leasehold improvements | Office equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 October 2022 | 15,290 | 6,840 | 22,130
| Additions | - | 4,214 | 4,214
| Exchange adjustments | (303) | (523) | (826)
| At 30 September 2023 | 14,987 | 10,531 | 25,518
| Depreciation |  |  |
| At 1 October 2022 | 1,699 | 760 | 2,459
| Charge for the year | 5,096 | 2,982 | 8,078
| Exchange adjustments | (34) | (58) | (92)
| At 30 September 2023 | 6,761 | 3,684 | 10,445
| Net book value |  |  |
| At 30 September 2023 | 8,226 | 6,847 | 15,073
| At 30 September 2022 | 13,591 | 6,080 | 19,671
5. | Debtors
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Other debtors | 89,656 | 62,834
| Called up share capital not paid | 100 | 100
|  | 89,756 | 62,934
6. | Prior year adjustment
A prior year restatement has been included in the financial statements to reallocate £150,046 of the intercompany recharges from other operating income to turnover. This is to reflect the underlying nature of the business, which is to provide support to a fellow group company. There is no impact to the profit or loss. Page 5
MARCUS EVANS EVENTS CANADA LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
7. | Commitments under operating leases
| At 30 September 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Not later than 1 year | 270,097 | 95,967
| Later than 1 year and not later than 5 years | 247,870 | 159,945
|  | 517,967 | 255,912
8. | Controlling party
The parent of the smallest group of which the company is a member is ME Holdings (IOM) Ltd, the address of its registered office is 31-37 North Quay, Douglas, Isle of Man IM1 4LB.
9. | Auditor's information
The auditor's report on the financial statements for the year ended 30 September 2023 was qualified. The qualification in the audit report was as follows: We were unable satisfy ourselves regarding the total payroll costs included within the income statement totalling £3,587,253 for the year ended 30 September 2023. This was as a result of the underlying payroll records for the period from October 2022 to April 2023 not being retained by the client and therefore unavailable to us at the time of the audit work. As the level of missing evidence was material, we were unable to determine whether any adjustment of this amount was necessary. The audit report was signed on 15 September 2025 by Andrew Cook FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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