REGISTERED NUMBER: 14875181 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

META EQUITY HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Statement of Financial Position

12

Company Statement of Financial Position

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Statement of Cash Flows

16

Notes to the Consolidated Statement of Cash Flows

17

Notes to the Consolidated Financial Statements

19

DIRECTORS:

M Mohsin

Mrs T Sobyanina

REGISTERED OFFICE:

Langley House

Park Road

London

N2 8EY

REGISTERED NUMBER:

14875181 (England and Wales)

SENIOR STATUTORY AUDITOR:

Brian Leighton

AUDITORS:

Accura Accountants Ltd (Statutory Auditor)

Langley House

Park Road

East Finchley

London

N2 8EY

The directors present their strategic report for the Group for the year ended 31 December 2024.

In 2024, Meta Group achieved a revenue of £103 million (2023: £55M), reflecting strong performance driven by strategic initiatives, market expansion, and key partnerships. Looking ahead to 2025, the Group is well-positioned for accelerated growth, supported by a newly secured $7.2 million trade finance facility, with an additional $15 million expected in the final quarter, and plans are in place to double both tonnage and turnover, strengthen contracted zinc supply to 70,000 MT, and enhance operational capability through an upgraded ERP system.

REVIEW OF BUSINESS

Meta Group operates in the sourcing, processing, and supply of zinc and related products, delivering value through market diversification and strategic partnerships. In 2024, revenue growth was underpinned by an expansion of product offerings into emerging markets, collaboration with key suppliers and technology partners, and initiatives to streamline operations. Trade finance support has enabled the Group to secure larger volumes from suppliers. Plans to implement a robust ERP system aim to improve data integration, scalability, and operational efficiency in anticipation of rapid growth.

Profitability has decreased compared to previous years, as the focus is on increasing market share in a competitive

industry, however, the profit margin is expected to improve in 2025.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the principal risks to the business to be foreign currency risk, credit risk, liquidity risk, and the conflict in Ukraine. These, together with other operational and strategic risks, and the strategies undertaken to mitigate them, are set out below.

The business also faces broader risks, including supply chain disruptions, fluctuations in commodity prices, currency volatility, and challenges associated with scaling operations. Additional risks arise from regulatory compliance and environmental considerations. Mitigation strategies include diversifying supplier relationships, leveraging trade finance to secure raw materials, upgrading IT and operational systems, and maintaining robust internal controls.

Foreign currency risk

The Group's principal foreign currency exposure arises from trading with overseas companies. The Group's policy permits, but does not require, these exposures to be hedged to fix costs in Sterling. Hedging activity primarily involves the use of foreign exchange forward contracts, as most sales and purchases are denominated in USD and Euros. All future transactions are carefully monitored by management.

Credit risk

Investments of cash surpluses and borrowings are made through banks and companies carefully selected by the board. While the majority of sales are settled in cash or advance payment, customers trading on credit terms are subject to verification procedures. Where concerns arise regarding a customer's creditworthiness, advance payment or cash against documents is required. Stringent credit control procedures are in place, and provisions for potential bad debts are recognised in the accounts as considered appropriate by the directors.

Liquidity risk

The Group has secured a trade finance facility to support in its journey for rapid expansion. Although the global economy is experiencing inflationery pressure on energy prices, the Group remains in a strong competitve position and is well-placed to manage these economic challenges.

LOOKING FORWARD

Looking forward to 2025 and beyond, Meta Group will focus on strategic growth, technological enhancement, operational efficiency, and sustainability. The trade finance facility will support increased turnover and larger zinc contracts, while the ERP system upgrade will enable real-time analytics, improved inventory and supply chain management, and scalability to support the anticipated doubling of tonnage and turnover.

The Group is also pursuing several key strategic projects. Acquisition of commercial property will reduce long-term overheads, provide operational flexibility, and create a tangible asset. A digital accounting transformation will modernise financial reporting, internalise payroll, and enhance compliance and visibility. Adoption of a business analytics platform will support more effective decision-making through real-time dashboards and KPI tracking across departments. Finally, a workforce competency and development programme will close skill gaps, promote continuous learning, and ensure staff are equipped to meet evolving operational and regulatory demands.

Alongside these initiatives, Meta Group remains committed to sustainability and innovation, strengthening partnerships with environmentally responsible suppliers and investing in research and development to explore new applications for zinc and related materials. By integrating operational excellence, technological advancement, and sustainable practices, the Group is well-positioned to capitalise on emerging opportunities and maintain market leadership in the coming years.

ON BEHALF OF THE BOARD:

M Mohsin - Director

24 September 2025

The directors present their report with the financial statements of the company as an entity and the Group for the year to 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of investment in subsidiaries. The principal activity of the wholly owned subsidiaries are of wholesale of metals and metal ores and software publications.

DIVIDENDS

An interim dividend of 2.11 per share was paid on 31 December 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 212,000 .

DIRECTORS

M Mohsin has held office during the whole of the period from 1 January 2024 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

During the year total of £13,545 donations made to various social welfare societies (2023: £9,485). There were no donations made to political parties.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Accura Accountants Ltd (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M Mohsin - Director

24 September 2025

Opinion

We have audited the financial statements of Meta Equity Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The 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 group's and of the parent company affairs as at 31 December 2024 and of the group's 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 group's and the parent 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.

An overview of the scope of our audit

The Group comprises Meta Equity Holdings Limited ("the Company") and its wholly owned subsidiaries. A statutory audit has been performed for one subsidiary, Metaenterprices Ltd, which represents 86% of the Group's consolidated revenue, 54% of consolidated profit before tax, and 71% of consolidated total assets. Other subsidiaries, MetaZN Limited and Realmeta Limited, are not subject to statutory audit requirements in the United Kingdom as they fall below the audit exemption thresholds. We act as accountants to these subsidiaries and prepare their annual financial statements. In addition, there are three subsidiaries in Europe, Meta Serbia, Meta Bulgaria and Meta Poland, which are also below the audit thresholds in their respective jurisdictions. The financial information of these subsidiaries, which in total represents 14% of consolidated revenue, 46% of consolidated profit before tax, and 29% of consolidated total assets, has been included in the consolidated financial statements based on the accounting records of those entities and consolidation schedules prepared by management.

Our audit work on these unaudited subsidiaries was limited to procedures performed at Group level over the consolidation process, together with analytical review and other review procedures on the financial information provided. Safeguards have been implemented to address the self-review threat arising from our role in the preparation of the financial information of these subsidiaries, including the use of separate engagement teams for the accounts preparation and for the audit work.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 Statement of Directors' Responsibilities set out on page four, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Fraud risk assessment

To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure by management to commit, or provide an opportunity to commit, fraud. Our risk assessment procedures included:

- Enquiries of management and internal accounting staff, concerning the group's policies and procedures relating to:

- detecting and responding to the risks of fraud; and

- internal controls established to mitigate risks related to fraud;

- enquiries of management and internal accounting staff as to whether they had knowledge of any actual, suspected or alleged fraud;

- discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. The engagement team includes the audit partner, managers and staff who have extensive experience of working with companies in this sector, and this experience was relevant to the discussion about where fraud risks may arise.

Risk communications

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

Fraud risks

As required by auditing standards we addressed the risk of management override of controls and the risk of fraudulent revenue recognition. In particular we considered the risk that revenue is recorded in the wrong period and the risk that the group's management may be in a position to make inappropriate accounting entries, and the risk of bias in accounting estimates and judgments.

Procedures to address fraud risks

Our audit procedures included evaluating the design and implementation, and operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures including:

- review journal entries to supporting documentation and review for any unusual journal descriptions;

- assessing significant accounting estimates for bias;

- obtaining third party confirmations for all bank balances and material debtors and creditors balances; and

- assessing when revenue was recognised, particularly focusing on revenue recognised in the days before and after the year end date, and whether it was recognised in the correct year.

Laws and regulations - Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

Risk assessment

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements. For this risk assessment, matters considered included the following:

- our general commercial and trading industry experience;

- discussion with the management of the group (as required by auditing standards);

- inspection of the group's regulatory and legal correspondence; and

- discussions with the directors and other management about the policies and procedures regarding compliance with laws and regulations.

Risk communications

Our communication of laws and regulations risks was made throughout our team and we remained alert to any indications of non-compliance throughout the audit.

Direct laws context and link to audit

The potential effect of laws and regulations on the financial statements varies considerably. The group is subject to United Kingdom laws and regulations, such as the Companies Act 2006. Other relevant rules and regulations include the following:

- financial reporting legislation (including related UK companies' legislation)

- taxation legislation (direct and indirect) in the company's countries of operation.

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Most significant indirect law/ regulation areas

Secondly, the group is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or harm to the group's ability to operate.

We identified the following area as those most likely to have such an effect:

- Health , safety, welfare and fire safety

- Anti-bribery fraud and corruption

- Anti-money laundering regulations

- European Union and United Kingdom employment law

- London Metal Exchange (LME) regulations

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of law or regulations is not disclosed to us or evident from relevant correspondence, our audit will not detect that breach.

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 Report of the Auditors.

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.

Brian Leighton (Senior Statutory Auditor)

for and on behalf of Accura Accountants Ltd (Statutory Auditor)

Langley House

Park Road

East Finchley

London

N2 8EY

24 September 2025

TURNOVER

3

103,635,605

55,138,486

Cost of sales

(100,782,433

)

(52,916,373

)

GROSS PROFIT

2,853,172

2,222,113

Administrative expenses

(2,179,954

)

(1,488,304

)

673,218

733,809

Other operating income

60,456

69,539

Gain/loss on revaluation of investment property

-

213,195

OPERATING PROFIT

5

733,674

1,016,543

Interest receivable and similar income

1,268

-

734,942

1,016,543

Gain/loss on revaluation of assets

66,827

-

801,769

1,016,543

Interest payable and similar expenses

6

(64,157

)

(66,310

)

PROFIT BEFORE TAXATION

737,612

950,233

Tax on profit

7

(181,941

)

(297,782

)

PROFIT FOR THE FINANCIAL YEAR

555,671

652,451

Profit attributable to:

Owners of the parent

555,671

652,451

PROFIT FOR THE YEAR

555,671

652,451

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

555,671

652,451

Total comprehensive income attributable to:

Owners of the parent

555,671

652,451

FIXED ASSETS

Tangible assets

11

354,616

277,531

Investments

12

-

-

Investment property

13

1,291,589

1,025,000

1,646,205

1,302,531

CURRENT ASSETS

Stocks

14

2,939,185

1,385,212

Debtors

15

9,570,761

5,816,821

Cash at bank and in hand

2,284,282

3,048,702

14,794,228

10,250,735

CREDITORS

Amounts falling due within one year

16

12,141,728

7,799,819

NET CURRENT ASSETS

2,652,500

2,450,916

TOTAL ASSETS LESS CURRENT LIABILITIES

4,298,705

3,753,447

CREDITORS

Amounts falling due after more than one year

17

(689,037

)

(487,949

)

PROVISIONS FOR LIABILITIES

21

(56,580

)

(56,081

)

NET ASSETS

3,553,088

3,209,417

CAPITAL AND RESERVES

Called up share capital

22

100,200

100,200

Fair value reserve

23

159,896

159,896

Retained earnings

23

3,292,992

2,949,321

SHAREHOLDERS' FUNDS

3,553,088

3,209,417

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

M Mohsin - Director

FIXED ASSETS

Tangible assets

11

-

-

Investments

12

104,217

104,331

Investment property

13

-

-

104,217

104,331

CURRENT ASSETS

Cash in hand

200

200

CREDITORS

Amounts falling due within one year

16

4,130

4,331

NET CURRENT LIABILITIES

(3,930

)

(4,131

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100,287

100,200

CAPITAL AND RESERVES

Called up share capital

22

100,200

100,200

Retained earnings

23

87

-

SHAREHOLDERS' FUNDS

100,287

100,200

Company's profit for the financial year

212,087

-

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

M Mohsin - Director

Called up

share

Retained

Fair value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 17 May 2023

-

2,537,541

-

2,537,541

Changes in equity

Issue of share capital

100,200

-

-

100,200

Dividends

-

(80,775

)

-

(80,775

)

Total comprehensive income

-

492,555

159,896

652,451

Balance at 31 December 2023

100,200

2,949,321

159,896

3,209,417

Changes in equity

Dividends

-

(212,000

)

-

(212,000

)

Total comprehensive income

-

555,671

-

555,671

Balance at 31 December 2024

100,200

3,292,992

159,896

3,553,088

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

100,200

-

100,200

Balance at 31 December 2023

100,200

-

100,200

Changes in equity

Dividends

-

(212,000

)

(212,000

)

Total comprehensive income

-

212,087

212,087

Balance at 31 December 2024

100,200

87

100,287

Cash flows from operating activities

Cash generated from operations

1

75,961

3,022,799

Interest paid

(64,157

)

(66,310

)

Tax paid

(248,959

)

(20,104

)

Net cash from operating activities

(237,155

)

2,936,385

Cash flows from investing activities

Purchase of tangible fixed assets

(92,991

)

(13,000

)

Purchase of investment property

(266,589

)

(516,781

)

Sale of fixed asset investments

-

2,954

Interest received

1,268

-

Net cash from investing activities

(358,312

)

(526,827

)

Cash flows from financing activities

Amount introduced by directors

472,477

30,008

Amount withdrawn by directors

(472,000

)

(30,300

)

Share issue

-

100,200

Bank and cash

-

618,652

Equity dividends paid

(212,000

)

(80,775

)

Net cash from financing activities

(211,523

)

637,785

(Decrease)/increase in cash and cash equivalents

(806,990

)

3,047,343

Cash and cash equivalents at beginning of year

2

3,047,343

-

Cash and cash equivalents at end of year

2

2,240,353

3,047,343

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

17.5.23

Year Ended

to

31.12.24

31.12.23

£

£

Profit before taxation

737,612

950,233

Depreciation charges

27,576

14,694

Gain on revaluation of fixed assets

(66,827

)

(213,195

)

Finance costs

64,157

66,310

Finance income

(1,268

)

-

761,250

818,042

Increase in stocks

(1,553,973

)

(448,510

)

(Increase)/decrease in trade and other debtors

(3,753,941

)

385,689

Increase in trade and other creditors

4,622,625

2,267,578

Cash generated from operations

75,961

3,022,799

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

2,284,282

3,048,702

Bank overdrafts

(43,929

)

(1,359

)

2,240,353

3,047,343

Period ended 31 December 2023

31.12.23

17.5.23

£

£

Cash and cash equivalents

3,048,702

-

Bank overdrafts

(1,359

)

-

3,047,343

-

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

3,048,702

(764,420

)

2,284,282

Bank overdrafts

(1,359

)

(42,570

)

(43,929

)

3,047,343

(806,990

)

2,240,353

Debt

Debts falling due within 1 year

(35,397

)

34,133

(1,264

)

Debts falling due after 1 year

(487,949

)

(201,088

)

(689,037

)

(523,346

)

(166,955

)

(690,301

)

Total

2,523,997

(973,945

)

1,550,052

1.	STATUTORY INFORMATION

Meta Equity Holdings Limited 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The Group's functional and presentation currency is £ Sterling. Monetary amounts in these financial statements are rounded to nearest £.

Basis of consolidation

As stated in strategic report and directors report, Meta Equity Holdings Ltd was incorporated on 17 May 2023 with a primary objective of representing the Meta Group as the parent company. Largest company within the group is Metaenterprices Ltd and the financial statements of Metaenterprices Ltd was audited. Metaenterprices Ltd generated 86% of the total consolidated revenue in 2024.

The consolidated financial statements for the Group is for the full year to 31 December 2024 and the subsidiary companies within the group are as follows:

Metaenterprices Ltd

MetaZN Limited

Realmeta Limited

Meta Poland Limited

Meta Bulgaria Limited and

Meta Serbia Limited

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Group's accounting policies, which are described in note 2, the Directors are required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognised and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The Directors do not consider there to be any critical accounting judgements or key sources of estimation uncertainty in the preparation of the Company's financial statements.

Turnover

Turnover represents the fair value of consideration receivable for the sale of goods and services in the ordinary course of business, excluding value-added tax (VAT), trade discounts, and returns.

Revenue is recognised when the significant risks and rewards of ownership of the goods have been transferred to the customer.

Turnover arising from the sourcing and supplying of zinc and related products is measured based on the agreed contract price with the customer, including any adjustments for price fluctuations, rebates, or other incentives. For long-term supply contracts, revenue is recognised when the performance obligations under the contract are satisfied, which is typically upon delivery or transfer of control.

Where sales are denominated in foreign currencies, turnover is translated into Sterling at the exchange rate prevailing at the date of the transaction. The company monitors foreign currency exposure and use forward contracts to mitigate the risk of exchange rate fluctuations.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

This is a departure from the Companies Act which requires assets to be depreciated. However, in the opinion of the directors, property is held primarily for their investment potential and so fair value is of more significance as a measure of consumption. They therefore have applied a true and fair override with respect to investment properties.

The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell.

At each balance sheet date stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in profit and loss.