M.E. Charnaud & Sons Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 00922197

		31 December 2024		31 July 2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		5,527,500		3,424,194

			5,527,500		3,424,194
CURRENT ASSETS
Debtors	5	3,357,132		5,137
Cash at bank and in hand		54,632		132,128

		3,411,764		137,265
Creditors: Amounts Falling Due Within One Year	6	(133,468 )		(16,752 )

NET CURRENT ASSETS (LIABILITIES)			3,278,296		120,513

TOTAL ASSETS LESS CURRENT LIABILITIES			8,805,796		3,544,707

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(85,028 )

NET ASSETS			8,805,796		3,459,679

CAPITAL AND RESERVES
Called up share capital	7		43,652		17,500
Share premium account			5,569,163		96,663
Revaluation reserve			-		255,094
Capital redemption reserve			1,348		-
Profit and Loss Account			3,191,633		3,090,422

SHAREHOLDERS' FUNDS			8,805,796		3,459,679

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M.E. Charnaud & Sons Limited

Balance Sheet (continued)

As At 31 December 2024

For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr P F Charnaud

Director

24 December 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

M.E. Charnaud & Sons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00922197 . The registered office is 1 Blatchford Road, Horsham, West Sussex, RH13 5QR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 3 (2023: 1)

4. Investments

	Subsidiaries	Listed	Total
	£	£	£
Cost
As at 1 August 2023	4,100	3,420,094	3,424,194
Additions	5,527,500	-	5,527,500
Disposals	(4,100 )	(3,064,756 )	(3,068,856 )
Revaluations	-	(340,122 )	(340,122 )
Transfers	-	(15,216 )	(15,216 )

As at 31 December 2024	5,527,500	-	5,527,500

Provision
As at 1 August 2023	-	-	-

As at 31 December 2024	-	-	-

Net Book Value
As at 31 December 2024	5,527,500	-	5,527,500

As at 1 August 2023	4,100	3,420,094	3,424,194

Listed Investments

On 19 February 2024, the company sold an investment portfolio to Scott & Sargeant Holdings Limited. The sale was at the market value of £3,267,743

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M.E. Charnaud & Sons Limited

Notes to the Financial Statements (continued)

For the Period 1 August 2023 to 31 December 2024

5. Debtors

	31 December 2024	31 July 2023
	£	£
Due within one year
Other debtors	19,455	5,137
Directors' loan accounts	25,178	-
Amounts owed by group undertakings	3,312,499	-

	3,357,132	5,137

6. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 July 2023
	£	£
Corporation tax	131,308	80
Other creditors (9)	-	4,100
Accruals and deferred income	2,160	11,076
Directors' loan accounts	-	1,496

	133,468	16,752

7. Share Capital

	31 December 2024	31 July 2023
	£	£
Allotted, Called up and fully paid	43,652	17,500

8. Related Party Transactions

Transactions with Directors

At the balance sheet date, an amount of £25,178 was due from the late Mr Michael Erwin Charnaud, who was a director and shareholder of the company. The amounts relate to expenses paid on behalf of the Late Mr Michael Erwin Charnaud. Following the director's passing away on 05th November 2024, the balance is now receivable from his estate.

Transactions with group undertakings

On 03 April 2024, the company purchased shares in Scott & Sargeant Holdings Limited (SSHL) at a consideration of £5,527,500 including transaction costs and as a result acquired 52.40% shareholding in SSHL.

Prior to becoming a subsidary of M.E Charnaud & Sons Limited (MECSL), SSHL acquired an investment portfolio from MECSL. The acquisition occured before MECSL acquired SSHL and, therefore did not constitute a related party transaction at the time under applicable accounting standards.

The investment portfolio was acquired by SSHL on 19 February 2024 for £3,267,743 being the market value.

While the transaction was not a related party transaction at the time, it is disclosed here due to its significance and proximity to the group acquisition.

As at the balance sheet date, the amounts owed from Scott & Sargeant Holdings Limited is £3,312,499 (2023 - £Nil).

9. Share-for-Share Exchange

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M.E. Charnaud & Sons Limited

Notes to the Financial Statements (continued)

For the Period 1 August 2023 to 31 December 2024

On 03 April 2024, the company acquired 524 ordinary shares in Scott & Sargeant Holdings Limited from The P F Charnaud Trust and The J P Charnaud Trust, related parties by virtue of common control. In consideration for the acquisition, the company issued 27,500 ordinary shares to the trusts in a share-for-share exchange.

The investment in Scott & Sargent Holdings Limited has been recognised at £5,527,500 being the fair value of the shares issued and transactions costs incurred. No gain or loss has been recognised on this transaction.

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