ACCOUNTS - Final Accounts preparation

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:

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.

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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.

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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.

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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.

Employees

The average monthly number of employees, including directors, during the year was 65 (2022 - 0).

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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

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.

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MARCUS EVANS EVENTS CANADA LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

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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