REGISTERED NUMBER: 03600898 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MERRYCK & CO.LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E J Avignon

M C H Westerman

K O Yarish-Ferland

REGISTERED OFFICE:

5 Market Yard Mews

194-204 Bermondsey Street

London

SE1 3TQ

REGISTERED NUMBER:

03600898 (England and Wales)

AUDITORS:

AKS Advisers Limited

14-15 Lower Grosvenor Place

London

SWIW 0EX

FIXED ASSETS

Tangible assets

4

2,802

2,289

Investments

5

-

50,001

2,802

52,290

CURRENT ASSETS

Debtors

6

2,883,608

2,031,946

Cash at bank

257,271

974,194

3,140,879

3,006,140

CREDITORS

Amounts falling due within one year

7

(2,922,682

)

(1,760,696

)

NET CURRENT ASSETS

218,197

1,245,444

TOTAL ASSETS LESS CURRENT LIABILITIES

220,999

1,297,734

CAPITAL AND RESERVES

Called up share capital

8

2,989

2,652

Share premium

9

436,885

101,957

Capital redemption reserve

9

256

256

Retained earnings

9

(219,131

)

1,192,869

SHAREHOLDERS' FUNDS

220,999

1,297,734

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 25 September 2025 and were signed on its behalf by:

M C H Westerman - Director

1.	General information

The principal activity of Merryck & Co. Limited ("the Company") is provision of corporate executive mentoring to senior executives and senior board members who are typically employed by large companies.

Merryck & Co. Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 03600898).

The registered office address is 5 Market Yard Mews, 194-204 Bermondsey Street, London, SE1 3TQ.

2.	Accounting policies

Basis of preparing the 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:

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services which is recognised by reference to the stage of completion of the contract. Revenue is spread evenly over the term of the contract to reflect the period over which the Company makes the mentoring service available to the customer.

The mentoring fee costs associated with the delivery of each contract are recognised in the period in which the mentoring takes place.

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.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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:

Office equipment - 3 years

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.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Financial instruments

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debtors. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

During the year, the Company incurred a loss primarily as a result of an impairment charge.

At year end the Company had net current assets of £218,197 (2023: £1,245,444) including a cash balance of £257,271 (2023: £974,194).

The Company remains profitable and has strong cash flows, with expected profits at the reporting date.

Management have reviewed post year end financial performance and have produced forecasts which show that the Company would still be in a position to continue in operational existence for the foreseeable future being a period of at least 12 months from the signing of these financial statements.

For this reason the directors have prepared the financial statements on a going concern basis.

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts. Details of the Company's immediate and ultimate parent undertakings can be found in note 12.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Employees and directors

The average number of employees during the year was 9 (2023 - 7 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2024

5,874

Additions

2,541

Disposals

(1,049

)

At 31 December 2024

7,366

Depreciation

At 1 January 2024

3,585

Charge for year

2,028

Eliminated on disposal

(1,049

)

At 31 December 2024

4,564

Net book value

At 31 December 2024

2,802

At 31 December 2023

2,289

5.	Fixed asset investments

Shares in

group

undertaking

£

Cost

At 1 January 2024

50,001

Disposals

(50,001

)

At 31 December 2024

-

Net book value

At 31 December 2024

-

At 31 December 2023

50,001

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

1,065,514

1,011,199

Amounts owed by group undertakings

1,606,896

956,754

Other debtors

211,198

63,993

2,883,608

2,031,946

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

155,974

155,268

Amounts owed to group undertakings

986,364

-

Taxation and social security

230,614

270,631

Other creditors

1,549,730

1,334,797

2,922,682

1,760,696

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

26,520

Ordinary

£0.10

2,652

2,652

335

Redeemable A

£1.00

335

-

167

Redeemable B

£0.01

2

-

2,989

2,652

167 Redeemable B shares of £0.01 each were allotted and fully paid for cash at par during the year.

335 Redeemable A shares of £1.00 each were allotted as fully paid at a premium of 1000.785074 per share during the year.

9.

Reserves

Share premium account

This account represents the consideration paid in excess of the nominal value of shares issued.

Capital redemption reserve

This reserve represents the amounts transferred following the redemption or purchase of the Company's shares

Profit and loss account

This represents cumulative profit or losses earned by the Company less amounts distributed to shareholders.

10.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Ashish Kirtikumar Shah (Senior Statutory Auditor)

for and on behalf of AKS Advisers Limited

11.	Related party disclosures

Transactions with group companies

The Company has taken advantage of the exemption in FRS 102 Section 33.1A to not disclose transactions with wholly owned group entities who are part of the wider group.

Transactions with key management personnel

Key management personnel are those persons having authority and responsibility for planning, controlling and directing the activities of the Group. In the opinion of management, key management are the board of directors. Key management personnel remuneration during the year was £264,253 (2023 £743,448).

12.	Ultimate controlling party

During the year ended 31 December 2024, the immediate parent company was Global Mentors Group (Jersey) Limited, a company registered in Jersey. The ultimate controlling party continues to be Blenheim Special Investment Holdings Ltd, incorporated in Bermuda.