Registration number: 07286894

M&E Global Limited (formerly M&E Global Resources Limited)

Contents

M&E Global Limited (formerly M&E Global Resources Limited)

Company Information

M&E Global Limited (formerly M&E Global Resources Limited)

Strategic Report for the Year Ended 31 December 2024

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

Principal activity

The principal activity of the Company is a defence contractor.

Fair review of the business

The results for the year which are set out in the profit and loss account show turnover of £88,227,837 (2023 - £78,862,138) and an operating profit of £3,966,400 (2023 - £6,308,441). At 31 December 2024 the Company had net assets of £10,462,733 (2023 - £9,836,105).

The directors consider the performance for the year and the financial position at the year end to be satisfactory.

The company's key financial and other performance indicators during the year were as follows:

Future developments

The Company has a strong order book with long terms contracts and is tracking a number of pipeline and potential re-bid opportunities to increase its customer base.

Section 172(1) statement
The Directors of the Company, as those of all UK companies, must act in accordance with a set of general duties which are detailed in section 172 of the Companies Act 2006. These duties include a duty by the Directors of the Company to act in a way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its shareholders as a whole and, in doing so, have had regard to and recognised the importance of considering all stakeholders and other matters (as set out in s.172(1)(a-f) of the Act) in its decision-making.

a) The likely consequences of any decision in the long term.
Our business plan was designed to have a long-term beneficial impact on the Company and to contribute to its success in delivering high-quality contracting solutions across the globe. All key decisions regarding the future of the Company are discussed in detail, at quarterly board meetings.

b) The interests of the Company’s employees.
We continually invest into apprenticeship schemes, training, development and wellbeing. We value our employees as our greatest asset, they are fundamental to the delivery of our plan and vision for the Company. The health, safety and wellbeing of our employees is always paramount when decisions are made across the business.

The Directors endeavour to create an environment where people can develop their skills and career and feel engaged and part of a successful business.

c) The need to foster the Company’s business relationships with contractors, suppliers, customers, and others.
To ensure we’re working with reputable suppliers who share our ethical and moral standards, we have robust procedures in place for assessing new suppliers. Further information on suppliers can be found in section 8 of our Business Ethics Policy, published on our website. This helps us build on our reputation for having a positive social and environmental impact and makes clear the high ethical standards that we operate. Interaction with our suppliers and treating suppliers fairly allows us to drive higher standards and reduce risk in our supply chain whilst benefitting from cost efficiencies and positive environmental outcomes.

A close working relationship with our customers is essential to being able to understand and provide them with market leading services they require. Our talented teams are dedicated to making sure we constantly challenge and improve what we do, providing confidence in quality delivery and compliance in everything we do. It is this

M&E Global Limited (formerly M&E Global Resources Limited)

Strategic Report for the Year Ended 31 December 2024

experience, expertise and creativity that fulfils our customer’s needs and builds long term successful relationships.

d) The impact of the Company’s operations on the community and the environment.
By contributing to the wider society this enables us to create stronger communities and have a positive environmental impact. The Company's approach to environmental and social matters is of high importance and we play an active part in the local community by sponsoring sports clubs, donating to charitable events, as well as positive interaction by participation in local and wider area careers events for military service leavers.

Although our UK energy consumption levels are low, an energy reduction plan has been instigated to reduce head office consumption.

Travel to and from the sites where the work activities are undertaken is an essential element of the Company and its employees / contractors’ activities. Wherever possible, direct flights are arranged to minimise the distances travelled and where practical, economy seats are booked to reduce the per passenger impact associated with our employees.

e) The desirability of the Company maintaining a reputation for high standards of business conduct.
The board of directors ensure the business maintains the highest possible standard for business conduct. We have a Business Ethics Policy, which applies across the business and is reviewed regularly by the board. This covers, but isn’t limited to; human rights, workers’ rights, conflicts of interest, information and confidentiality, shareholders, bribery and corruption.

f) The need to act fairly between members of the Company.
As a long-standing privately owned business, the relationship between the Shareholders and Directors is very important and is a key influence on the future success of the business. The Directors provide information on Company strategy and performance, being always honest and transparent. Value is generated for shareholders by supporting the overall Company to deliver the business plan. Shareholders can ask questions regarding the business and are provided with a copy of the Annual Report and regular financial updates after quarterly Board meetings.

Principal risks and uncertainties

The Directors regularly monitor and assess the risks of the Company during regular monthly meetings. Steps are taken to mitigate risks as outlined below:

The financial performance of the Company is dependent upon the global strategic positioning of military equipment that requires servicing and maintenance. This will depend upon individual countries government policy.

The majority of the Company’s trade is overseas and therefore the Company has significant exposure to foreign currency exchange, which is managed and closely monitored. Hedging instruments are utilised where possible to protect the business from global market exchange risks.

The Company employs skilled engineers and logistics workers. There is a business risk regarding the supply and cost, due to wage inflation, of suitably skilled employees to fill roles. Management monitor and review contract prices to mitigate this risk as far as possible.

The Company is reliant on a small number of prime contractors. The Company maintains good relationships with these contractors and regularly tenders for new work.

Approved by the Board on 22 December 2025 and signed on its behalf by:

S R Piper
Company secretary and director

M&E Global Limited (formerly M&E Global Resources Limited)

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

S R Piper - Company secretary and director

G Woodward

Matters covered in the strategic report
Information on the engagement with contractors, suppliers, customers and others is included in the strategic report in s172(1) statement. The Company's business environment and risks, together with details of monitoring undertaken by the directors and future developments are dealt with elsewhere in the Strategic Report.

Financial instruments

Objectives and policies

The Company's financial statements comprise cash and liquid resources, and various other items such as trade debtors, trade creditors that arise directly from operations. The main purpose of these financial instruments is to finance the operations of the Company. The main rises arising from the Company financial instruments are set out below.

Price risk, credit risk, liquidity risk and foreign exchange risk

Credit risk
Credit risk is the risk that one party to a financial instrument will cause financial loss to the other party by failing. The Company's principal financial assets are bank balances, cash, trade and other debtors. The Company's credit risk is primarily attributable to its trade receivables. The Company's policies are aimed at minimising such losses through satisfactory credit worthiness procedures. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The Company aims to mitigate liquidity risk by managing cash generation by its operations and an invoice discounting facility. The Company constantly monitors the trading results to ensure that the Company can meet its future obligations as they fall due.

Price risk
Price risk is the risk that price changes will cause financial losses for the company. Through careful monitoring of the Company’s market place and competitors the Company’s exposure to price risk is kept to a minimum.

Foreign exchange risk
Foreign exchange risk is the risk that fluctuations in the exchange rate will result in financial losses. The Company is exposed to foreign exchange risk as a large proportion of sales are made in US dollars. The Company aims to mitigate this by hedging foreign exchange risk through forward contracts where applicable.

Employment of disabled persons

Energy and Emissions Report
Under the Streamlined Energy and Carbon Reporting regulations the company must report annually on greenhouse gas emissions from scope 1 and scope 2 electricity, gas and transport. The report includes M&E Global (Staffing) Solutions Limited consolidated emissions as it is not practical to reasonably split emissions per entity.

M&E Global Limited (formerly M&E Global Resources Limited)

Directors' Report for the Year Ended 31 December 2024

Data is provided as tonnes of carbon dioxide equivalent (C02e) for all operations. The company does not incur any scope 1 emissions. Scope 2 emissions are from purchased electricity at the company's head office and scope 3 emissions are from employee travel. The company's chosen intensity ratio is emissions per kilometre travelled.

The report data has been collated internally with the assistance of a consultant. The data used to establish the emissions reported was obtained from supplier invoices, half hourly electricity data and fuel and milage records maintained by the Company. Conversion of energy use to CO2e has been calculated using the UK Government GHG Conversion Factors for Group Reporting, published by BEIS and DEFRA.

We have reported on the emissions sources required under the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013.

In 2024 there has been a decrease in the total distances travelled by the company’s engineers. This reduction comes after a significant increase in 2023.

The business endeavours to make use of virtual meeting wherever possible and this method of communication is used unless site visits are absolutely necessary Car sharing is also actively encouraged whenever there is a need for more than one person to travel to the same location. Travel to and from the sites where the work activities are undertaken is an essential element of the companies and its employees / contractors’ activities. wherever possible, direct flights are arranged to minimise the kilometres travelled and where practical, economy seats are booked to reduce the per passenger impact associated with our employees.

Going concern

The directors have prepared forecast information which considers the ongoing challenges with its reliance on key customer contracts, including a significant contract which ended post year end. The business continues to offer value added and competitive solutions and has established robust businesses in Germany and Poland to meet the future requirements of this and other projects and remains confident that it will continue to be the selected partner on these key contracts, but has also modelled its business to scale down costs, as a result of this contract ending. In making this assessment management have taken into consideration current and future contracted revenue and the taken measures to restructure the cost base of the business. The forecasts indicate that the Company will remain within its existing facilities and have sufficient resources to enable the Company to trade for a period of at least 12 months post signing of the financial statements. Based on this information, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Non adjusting events after the financial period
On 06 November 2025, the company changed its name from M&E Global Resources Limited to M&E Global Limited. This change has no impact on the amounts recognised in the financial statements as at 31 December 2024.

Following the year end a major contract, which contributed significant revenue to the business, had a large downsize in scope between May and November 2025, because of changes in the US defence policy and current cuts in defence spending in Europe. This contract also transitioned to a new prime contractor in December 2025, who in turn have decided they can self-perform the work based upon this reduced scope. As a result, the business has restructured to reduce headcount and operations to reflect the requirement of ongoing contracts.

Disclosure of information to the auditors

M&E Global Limited (formerly M&E Global Resources Limited)

Directors' Report for the Year Ended 31 December 2024

Directors' liabilities

Reappointment of auditors

Hazlewoods LLP have expressed their willingness to continue in office.

Approved by the Board on 22 December 2025 and signed on its behalf by:

S R Piper
Company secretary and director

M&E Global Limited (formerly M&E Global Resources Limited)

Statement of Directors' Responsibilities

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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

M&E Global Limited (formerly M&E Global Resources Limited)

Independent Auditor's Report to the Members of M&E Global Limited (formerly M&E Global Resources Limited)

Opinion

We have audited the financial statements of M&E Global Limited (formerly M&E Global Resources Limited) (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and 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:

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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 director's 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

M&E Global Limited (formerly M&E Global Resources Limited)

Independent Auditor's Report to the Members of M&E Global Limited (formerly M&E Global Resources Limited)

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 7, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 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 financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud

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:

We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits conducted in accordance with ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

M&E Global Limited (formerly M&E Global Resources Limited)

Independent Auditor's Report to the Members of M&E Global Limited (formerly M&E Global Resources Limited)

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of this 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 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.

Rebecca Copping (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor

Staverton Court
Staverton
Cheltenham
GL51 0UX

22 December 2025

M&E Global Limited (formerly M&E Global Resources Limited)

Profit and Loss Account for the Year Ended 31 December 2024

The above results were derived from continuing operations.

The company has no other comprehensive income for the year.

M&E Global Limited (formerly M&E Global Resources Limited)

(Registration number: 07286894)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:
 

S R Piper
Company secretary and director

M&E Global Limited (formerly M&E Global Resources Limited)

Statement of Changes in Equity for the Year Ended 31 December 2024