Company registration number: 13016238
COMPANY INFORMATION
CONTENTS
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present the strategic report for the year ended 31 March 2025.
Principal activity
The principal activity of the Company was that of a holding company. The principal activity of the Group was the sale of portable air treatment equipment.
Principal activity
The principal activity of the Company was that of a holding company. The principal activity of the Group was the sale of portable air treatment equipment.
The Statement of Income and Retained Earnings set out on page 10, shows the Group Turnover for the year to be £55,879,178 (2024: £53,726,627). The Group made a profit after tax for the year of £7,143,932 (2024: £9,576,359).
A customer’s desire to purchase our product range is partly weather dependent. Hot summers drive increased demand for cooling products and wet autumn/winters increase demand for dehumidifiers. Summer 2024 was the coolest on record in the UK since 2015, which suppressed sales of our cooling range. Sales of our dehumidifier range in Autumn/Winter 2024/25 remained strong and when combined with stronger sales in Europe led to the slightly increased turnover figure for the year. Our results in Europe strengthened as our efforts to develop our brand across Germany and Western Europe continue, with strong sales for both cooling and dehumidifiers.
We order stock of cooling products early in the calendar year, and dehumidifier stocks in mid-summer, so stock is in place for the coming seasons. In early 2024, we were over optimistic ordering cooling stock. With the cool summer, we were left with a substantial overstock of fans and air conditioners. The same ordering issue affected orders the level of dehumidifiers ordered and despite strong sales of dehumidifiers we ended the year overstocked.
These higher than planned stock holding have led to significantly higher storage (and related in-bound transport costs) for the year which have negatively impacted on profit levels. We have reviewed our ordering methodology to ensure we maintain a lower stock level for the coming year, ensuring we can sell through stocks currently held within the following season.
Our cash balances have fallen over the year to £19,308,862 (2024: £21,211,228). This drop reflects the absorption of cash into our stock holdings. Summer 2025 has been a very good season for cooling stock after one of the hottest summers on record, and we sold out of all cooling stock. We have an opportunity to develop and re-invigorate our cooling offering for the 2026 season. In 2025 we have launched a new 8” Sefte fan to much acclaim and we plan to strengthen our product range; extend our bestselling Arete range with a 6L model and added a new Pro - desiccant model to our dehumidifier range.
As a group, we are looking to the future. Steps have been taken to strengthen our team at all levels, with training of existing staff, internal promotions and external recruitment all forming part of our strategy. This trend continues into 2025/26 as we continue to plan for growth both in the UK and mainland Europe. As Directors, we are very excited for the year ahead.
The Group ended the year with net assets of £35,201,208 (2024: £28,551,465).
A customer’s desire to purchase our product range is partly weather dependent. Hot summers drive increased demand for cooling products and wet autumn/winters increase demand for dehumidifiers. Summer 2024 was the coolest on record in the UK since 2015, which suppressed sales of our cooling range. Sales of our dehumidifier range in Autumn/Winter 2024/25 remained strong and when combined with stronger sales in Europe led to the slightly increased turnover figure for the year. Our results in Europe strengthened as our efforts to develop our brand across Germany and Western Europe continue, with strong sales for both cooling and dehumidifiers.
We order stock of cooling products early in the calendar year, and dehumidifier stocks in mid-summer, so stock is in place for the coming seasons. In early 2024, we were over optimistic ordering cooling stock. With the cool summer, we were left with a substantial overstock of fans and air conditioners. The same ordering issue affected orders the level of dehumidifiers ordered and despite strong sales of dehumidifiers we ended the year overstocked.
These higher than planned stock holding have led to significantly higher storage (and related in-bound transport costs) for the year which have negatively impacted on profit levels. We have reviewed our ordering methodology to ensure we maintain a lower stock level for the coming year, ensuring we can sell through stocks currently held within the following season.
Our cash balances have fallen over the year to £19,308,862 (2024: £21,211,228). This drop reflects the absorption of cash into our stock holdings. Summer 2025 has been a very good season for cooling stock after one of the hottest summers on record, and we sold out of all cooling stock. We have an opportunity to develop and re-invigorate our cooling offering for the 2026 season. In 2025 we have launched a new 8” Sefte fan to much acclaim and we plan to strengthen our product range; extend our bestselling Arete range with a 6L model and added a new Pro - desiccant model to our dehumidifier range.
As a group, we are looking to the future. Steps have been taken to strengthen our team at all levels, with training of existing staff, internal promotions and external recruitment all forming part of our strategy. This trend continues into 2025/26 as we continue to plan for growth both in the UK and mainland Europe. As Directors, we are very excited for the year ahead.
The Group ended the year with net assets of £35,201,208 (2024: £28,551,465).
Page 1
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The directors consider the principal risks and uncertainties faced by the Group to be:
Environmental uncertainties – Summer 2024 was poor for sales of cooling products, summer 2025 was very good. This is the unknow that we will always have within the business, we cannot predict the weather with any accuracy to predict demand.
Competition – Our success brings attention and there is no doubt that we are being targeted by competitors large and small. We respect them all and we will continue to double our efforts to maintain our position as a premium volume supplier of air treatment products across Europe.
Currency - Like many companies we are exposed to foreign exchange fluctuations, this has been affected by current political issues around the dollar, but we monitor our positions carefully.
Logistics - We are also affected by shipping rates. In 2023/24 these reached an all-time high and have settled, somewhat, over 2024/25. However, they are still not at the rates of prior years. We are also affected by political instability around shipping routes in the Middle East which have extended delivery times from the Far East. We have amended our ordering timetables to ensure we allow additional time for shipments until the situation changes.
Environmental uncertainties – Summer 2024 was poor for sales of cooling products, summer 2025 was very good. This is the unknow that we will always have within the business, we cannot predict the weather with any accuracy to predict demand.
Competition – Our success brings attention and there is no doubt that we are being targeted by competitors large and small. We respect them all and we will continue to double our efforts to maintain our position as a premium volume supplier of air treatment products across Europe.
Currency - Like many companies we are exposed to foreign exchange fluctuations, this has been affected by current political issues around the dollar, but we monitor our positions carefully.
Logistics - We are also affected by shipping rates. In 2023/24 these reached an all-time high and have settled, somewhat, over 2024/25. However, they are still not at the rates of prior years. We are also affected by political instability around shipping routes in the Middle East which have extended delivery times from the Far East. We have amended our ordering timetables to ensure we allow additional time for shipments until the situation changes.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
In accordance with Section 172(1) of the Companies Act 2006, the directors of Meaco Holdings Limited confirm that they have acted in good faith to promote the success of the company for the benefit of its members as a whole. In doing so, they have had regard to the likely long-term consequences of decisions, the interests of employees, the need to foster relationships with suppliers, customers and others, the impact of operations on the community and the environment, the desirability of maintaining a reputation for high standards of business conduct, and the need to act fairly between members of the company.
Strategic Decisions and Long-Term Impact
During the year ended 31 March 2025, the board focused on strengthening the company’s market position through investment in energy-efficient product development, expansion of our digital sales infrastructure, and enhancement of operational resilience. These initiatives were designed to support sustainable growth and ensure long-term value creation for stakeholders.
Employee Engagement
We recognise that our employees are central to our continued success. The company continued with training programmes, and flexible working arrangements. Regular staff feedback was encouraged and used to inform internal policies and improve workplace culture.
Stakeholder Relationships
The company maintained strong relationships with both commercial clients and individual consumers. We prioritised transparent communication, responsive customer service, and reliable delivery. Collaboration with suppliers was key to ensuring continuity of supply and maintaining product quality.
Environmental and Social Responsibility
As a provider of air treatment solutions, we are committed to environmental stewardship. We continue to reduce our use of
non-recyclable packaging, improved energy efficiency across our operations, and supported local community activities
through staff volunteering and sponsorship.
Governance and Ethical Conduct
The board reviewed and updated its governance framework to ensure compliance with regulatory requirements and ethical standards. Directors and Senior Managers worked towards more transparent corporate governance and stakeholder engagement, reinforcing our commitment to integrity and transparency.
Shareholder Engagement
We ensured that shareholders were kept informed through regular updates and clear reporting. Decisions were made with fairness and long-term value in mind, and shareholder rights were respected throughout the year.
The board remains committed to responsible leadership and stakeholder engagement, recognising that these principles are essential to the continued success and resilience of the company.
Strategic Decisions and Long-Term Impact
During the year ended 31 March 2025, the board focused on strengthening the company’s market position through investment in energy-efficient product development, expansion of our digital sales infrastructure, and enhancement of operational resilience. These initiatives were designed to support sustainable growth and ensure long-term value creation for stakeholders.
Employee Engagement
We recognise that our employees are central to our continued success. The company continued with training programmes, and flexible working arrangements. Regular staff feedback was encouraged and used to inform internal policies and improve workplace culture.
Stakeholder Relationships
The company maintained strong relationships with both commercial clients and individual consumers. We prioritised transparent communication, responsive customer service, and reliable delivery. Collaboration with suppliers was key to ensuring continuity of supply and maintaining product quality.
Environmental and Social Responsibility
As a provider of air treatment solutions, we are committed to environmental stewardship. We continue to reduce our use of
non-recyclable packaging, improved energy efficiency across our operations, and supported local community activities
through staff volunteering and sponsorship.
Governance and Ethical Conduct
The board reviewed and updated its governance framework to ensure compliance with regulatory requirements and ethical standards. Directors and Senior Managers worked towards more transparent corporate governance and stakeholder engagement, reinforcing our commitment to integrity and transparency.
Shareholder Engagement
We ensured that shareholders were kept informed through regular updates and clear reporting. Decisions were made with fairness and long-term value in mind, and shareholder rights were respected throughout the year.
The board remains committed to responsible leadership and stakeholder engagement, recognising that these principles are essential to the continued success and resilience of the company.
Products - We have successfully focused on developing our own range of fans, which have been well received and won many awards. We will continue to develop this range over the next few years.
We have successfully launched our Arete Two dehumidifier range in the autumn of 2024 and will strengthen our range with a smaller model suitable for kitchens, bathrooms, and small rooms. Our ability to develop products for Europe that are relevant to the local environment remain at the forefront of our activities to ensure we remain relevant.
Marketing – We are investing heavily in our internal marketing and PR team and will be increasing their budgets to help us to continue to grow and to stay ahead of the competition.
We have successfully launched our Arete Two dehumidifier range in the autumn of 2024 and will strengthen our range with a smaller model suitable for kitchens, bathrooms, and small rooms. Our ability to develop products for Europe that are relevant to the local environment remain at the forefront of our activities to ensure we remain relevant.
Marketing – We are investing heavily in our internal marketing and PR team and will be increasing their budgets to help us to continue to grow and to stay ahead of the competition.
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GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
This report was approved by the board and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors who served during the year were:
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments 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 Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to 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.
The profit for the year, after taxation, amounted to £8,062,804 (2024: £9,576,359).
During the year the Group undertook research and development activity in relation to obtaining further scientific advances in particular in relation to performance, energy efficiency and noise levels.
The Group has taken the option to exclude from its report any energy and carbon information relating to a subsidiary which would not itself be obliged to include reporting in its own financial statements. The parent company’s energy consumption in the United Kingdom for the year is 40,000kWh or lower and therefore is a low energy user, and so is not required to make energy disclosures. Therefore, no disclosures are required in relation to Green House Gas Emissions, Energy Consumption and Energy Efficiency Action.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Group has chosen, in accordance with Section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, to set out within the Group's Strategic Report, the Group's Strategic Report Information as required by Schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulation 2008. This includes information that would have been included in the business review and details of principal risks and uncertainties.
There have been no significant events affecting the Group since the year end.
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEACO HOLDINGS LIMITED
We have audited the financial statements of Meaco Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of income and retained earnings, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, 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).
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 Auditor's 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 United Kingdom, including the Financial Reporting Council'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.
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 or 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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEACO HOLDINGS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEACO HOLDINGS LIMITED (CONTINUED)
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 an Auditor's report 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including:
∙The Companies Act 2006;
∙Financial Reporting Standard 102;
∙UK employment legislation
∙UK health and safety legislation; and
∙General Data Protection Regulations.
We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the Company are complying with those legal and regulatory frameworks by making inquiries to management and those responsible for legal and compliance procedures.
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
∙Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud;
∙Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
∙Challenging assumptions and judgments made by management in its significant accounting estimates; and
∙Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
∙Posting of journals to the accounting software which are of a non-routine nature in terms of timing and amount; and
∙Timing of revenue recognition.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditor's report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEACO HOLDINGS LIMITED (CONTINUED)
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 an Auditor's report 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
2nd Floor
Midas House
62 Goldsworth Road
Surrey
GU21 6LQ
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CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
Page 11
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 33 form part of these financial statements.
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COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 33 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
Page 17
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
Page 18
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Meaco Holdings Limited is a private Company limited by shares, incorporated in the United Kingdom under the Companies Act 2006, and is registered in England and Wales. The company discloses its registered office on the company information page. This address is also its principal place of business.
The principal activity of the group is the provision of fans and dehumidifiers.
The principal activity of the group is the provision of fans and dehumidifiers.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic
of Ireland":
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic
of Ireland":
∙ the requirements of Section 7 Statement of Cash Flows; and
∙ the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included for the Group which can be seen in these consolidated financial statements.
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102. .
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102. .
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Intangible assets are amortised over a period of 25% reducing balance.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The directors consider there to be only one class of business.
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 25
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 26
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 28
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 29
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 30
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 31
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Foreign exchange reserve
Profit and loss account
The company operates a defined contribution plan scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions by the Group to the fund and amounted to £20,583 (2024: £12,509).
As at the year end there was £4,830 (2024: £3,019) payable to the pension scheme.
As at the year end there was £4,830 (2024: £3,019) payable to the pension scheme.
Page 32
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Company has taken advantage of the exemption under FRS 102 from disclosing transactions with other wholly owned members of the Meaco Holdings Limited Group.
At the year end Meaco (U.K.) Limited was owed £Nil (2024: £18,467) by a Company under common control.
During the year there were rental payments of £28,758 (2024: £26,966) made to Dentons SIPP C G Michael and Dentons SIPP M C Michael, the pension scheme of the directors.
At the year end Meaco (U.K.) Limited was owed £Nil (2024: £18,467) by a Company under common control.
During the year there were rental payments of £28,758 (2024: £26,966) made to Dentons SIPP C G Michael and Dentons SIPP M C Michael, the pension scheme of the directors.
The ultimate controlling party of the group is its directors, who between them own all of the Company's issued share capital.
Page 33