ACCOUNTS - Final Accounts preparation

Registered number: 10976976

M-EAT BILTONG LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

M-EAT BILTONG LTD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF M-EAT BILTONG LTD
FOR THE YEAR ENDED 31 MARCH 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M-Eat Biltong Ltd for the year ended 31 March 2025 which comprise and the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of M-Eat Biltong Ltd, as a body, in accordance with the terms of our engagement letter dated 12/12/2025. Our work has been undertaken solely to prepare for your approval the financial statements of M-Eat Biltong Ltd and state those matters that we have agreed to state to the Board of directors of M-Eat Biltong Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M-Eat Biltong Ltd and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that M-Eat Biltong Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M-Eat Biltong Ltd. You consider that M-Eat Biltong Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of M-Eat Biltong Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Finovate Advisory Ltd

JNF O'Kennedy BFP ACA
ICAEW: 9325679

18 Queen Square

Bath

Bath and Noerth East Somerset

England

United Kingdom

BA1 2HN

15 December 2025

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M-EAT BILTONG LTD

REGISTERED NUMBER: 10976976

BALANCE SHEET

AS AT 31 MARCH 2025

	2025	2024
Note	£	£

Fixed assets
Tangible assets	2	131	306
		131	306
Current assets
Inventory	3	10,219	3,826
Debtors	4	67,210	70,550
Cash at bank and in hand	5	18,136	27,483
		95,565	101,859
Creditors: amounts falling due within one year	6	(137,177)	(56,853)
Net current (liabilities)/assets		(41,612)	45,006
Total assets less current liabilities		(41,481)	45,312
Creditors: amounts falling due after more than one year	7	(180,000)	-

Net (liabilities)/assets		(221,481)	45,312

Capital and reserves
Called up share capital	8	10,263	11,933
Share premium account		-	348,330
Profit and loss account		(231,744)	(314,951)
		(221,481)	45,312

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M-EAT BILTONG LTD

REGISTERED NUMBER: 10976976

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

Notes

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 December 2025.

Lisa Gardshol	Brett Simpson
Director	Director

Page 3


		M-EAT BILTONG LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2023	11,933	348,330	(341,537)	18,726
Comprehensive income for the year
Profit for the year	-	-	26,586	26,586
Total comprehensive income for the year	-	-	26,586	26,586

At 1 April 2024	11,933	348,330	(314,951)	45,312
Comprehensive income for the year
Profit for the year	-	-	83,207	83,207
Total comprehensive income for the year	-	-	83,207	83,207
Contributions by and distributions to owners
Shares redeemed during the year	-	(348,330)	-	(348,330)
Shares cancelled during the year	(1,670)	-	-	(1,670)
Total transactions with owners	(1,670)	(348,330)	-	(350,000)
At 31 March 2025	10,263	-	(231,744)	(221,481)

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M-EAT BILTONG LTD

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	83,207	26,586
Adjustments for:
Depreciation of tangible assets	175	334
Taxation charge	19,056	6,393
Increase in stocks	(6,394)	(1,523)
Increase in debtors	(16,584)	(1,334)
Decrease in amounts owed by groups	866	935
Decrease in creditors	(5,485)	(3,340)
Increase in amounts owed to group entities	180,000	-
Net cash generated from operating activities	254,841	28,051


Cash flows from financing activities
Repurchase of shares	(350,000)	-
Other loans	89,337	-
Repayment of other loans	-	(10,648)
Net cash used in financing activities	(260,663)	(10,648)
Net (decrease)/increase in cash and cash equivalents	(5,822)	17,403
Cash and cash equivalents at beginning of year	23,958	6,555
Cash and cash equivalents at the end of year	18,136	23,958

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	18,136	27,483
Bank overdrafts	-	(3,525)
	18,136	23,958

Page 5

M-EAT BILTONG LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 105 the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

1.2

Going concern

The financial statements have been prepared on the basis of accounting policies applicable to a going concern. This basis presumes that funds will be available to finance operations and that the realisation of assets and settlement of liabilities, contingent obligations and commitments will occur in the ordinary core of business.
The directors believe that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the financial statements have been prepared on a going concern basis. The directors have satisfied themselves that the company is in a sound financial position and that it has access to sufficient borrowing facilities to meet its foreseeable cash requirements. The directors are not aware of any new material changes that may adversely impact the company. The directors are also not aware of any material non-compliance with statutory or regulatory requirements or of any pending changes to legislation which may affect the company.

1.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 6

M-EAT BILTONG LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

1.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5

Interest income

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

1.6

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.

Page 7

M-EAT BILTONG LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

1.7

Current and deferred taxation

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 balance sheet date.

1.8

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:

				Fixtures and fittings	-	25%	on cost
				Computer equipment	-	25%	on cost

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.

Page 8

M-EAT BILTONG LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

1.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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 complete and sell. The impairment loss is recognised immediately in profit or loss.

1.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

Page 9

M-EAT BILTONG LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 April 2024	700	18,295	18,995
At 31 March 2025	700	18,295	18,995
Depreciation
At 1 April 2024	394	18,295	18,689
Charge for the year on owned assets	175	-	175
At 31 March 2025	569	18,295	18,864
Net book value
At 31 March 2025	131	-	131
At 31 March 2024	306	-	306

3.	Inventory
		2025	2024
		£	£

Finished goods and goods for resale	10,219	3,826
	10,219	3,826

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M-EAT BILTONG LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£

Due after more than one year
Deferred tax asset	22,809	41,865
	22,809	41,865
Due within one year
Trade debtors	16,995	-
Amounts owed by group undertakings	15,356	16,223
Other debtors	12,050	12,462
	67,210	70,550

5.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	18,136	27,483
Less: bank overdrafts	-	(3,525)
	18,136	23,958

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	-	3,525
Other loans	117,531	28,197
Trade creditors	19,646	25,131
	137,177	56,853

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M-EAT BILTONG LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Amounts owed to group undertakings	180,000	-
	180,000	-

8.	Share capital
		2025	2024
		£	£

Authorised, allotted, called up and fully paid

10,263 (2024 - 11,933) Ordinary shares shares of £1.00 each	10,263.00	11,933.00

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