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REGISTERED NUMBER: 10333600 (England and Wales)

| MERITEX HOLDINGS WORLDWIDE LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 28 FEBRUARY 2025 |

MERITEX HOLDINGS WORLDWIDE LIMITED (REGISTERED NUMBER: 10333600) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page |

| Company Information | 1 |

| Abridged Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| MERITEX HOLDINGS WORLDWIDE LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 28 FEBRUARY 2025

| DIRECTORS: | P Saunders

| H Osborne

| R Margyte

| D J Sweet

| REGISTERED OFFICE: | The Coach House

| 20 Northernhay Street

| EXETER

| Devon

| EX4 3ER

| REGISTERED NUMBER: | 10333600 (England and Wales)

| ACCOUNTANTS: | Wilson Partners Limited

| Chartered Accountants

| 7 Sandy Court

| Ashleigh Way

| Langage Business Park

| Plymouth

| Devon

| PL7 5JX

MERITEX HOLDINGS WORLDWIDE LIMITED (REGISTERED NUMBER: 10333600) |

ABRIDGED BALANCE SHEET

28 FEBRUARY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 5 | 2,868,340 |  | 2,868,411 |  |

CURRENT ASSETS

Debtors | 617,538 |  | 359,118 |  |

Cash at bank | 37,706 |  | 14,766 |  |

655,244 |  | 373,884 |  |

CREDITORS

Amounts falling due within one year | 1,821,688 |  | 1,298,903 |  |

NET CURRENT LIABILITIES | (1,166,444 | ) | (925,019 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,701,896 |  | 1,943,392 |  |

CREDITORS

Amounts falling due after more than one year | 400,000 |  | 660,000 |  |

NET ASSETS | 1,301,896 |  | 1,283,392 |  |

CAPITAL AND RESERVES

Called up share capital | 200 |  | 200 |  |

Retained earnings | 1,301,696 |  | 1,283,192 |  |

1,301,896 |  | 1,283,392 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 August 2025 and were signed on its behalf by:

R Margyte - Director

MERITEX HOLDINGS WORLDWIDE LIMITED (REGISTERED NUMBER: 10333600) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

1. | STATUTORY INFORMATION

| Meritex Holdings Worldwide 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 Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Investments in subsidiaries

| Investments in subsidiary and associated undertakings are shown at the lower of cost and net realisable value, less provision, where applicable, for any permanent diminution in value. The directors review the investments for impairment on an annual basis.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

| Creditors

| Short term creditors are measured at the transaction price.

| Taxation

| Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

| Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

| Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

| Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

| The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

MERITEX HOLDINGS WORLDWIDE LIMITED (REGISTERED NUMBER: 10333600) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 28 FEBRUARY 2025

3. | ACCOUNTING POLICIES - continued

| Provisions for liabilities

| Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

| Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

5. | FIXED ASSET INVESTMENTS

| Information on investments other than loans is as follows:

| Totals

£ |

| COST

| At 1 March 2024 | 2,868,411 |  |

| Share of profit/(loss) | (71 | ) |

| At 28 February 2025 | 2,868,340 |  |

| NET BOOK VALUE

| At 28 February 2025 | 2,868,340 |  |

| At 29 February 2024 | 2,868,411 |  |