Company No: 12715659 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2024		31.12.2023
		£		£
Fixed assets
Tangible assets	3	1,528		3,240
		1,528		3,240
Current assets
Debtors	4	21,518		44,980
Cash at bank and in hand		6,948		20,084
		28,466		65,064
Creditors: amounts falling due within one year	5	( 1,355,100)		( 1,108,496)
Net current liabilities		(1,326,634)		(1,043,432)
Total assets less current liabilities		(1,325,106)		(1,040,192)
Net liabilities		( 1,325,106)		( 1,040,192)
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		( 1,325,206 )		( 1,040,292 )
Total shareholder's deficit		( 1,325,106)		( 1,040,192)

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

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Meridian Universal Limited (registered number: 12715659) were approved and authorised for issue by the Director. They were signed on its behalf by:

N Anandakumar Director

23 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Meridian Universal Limited (the Company) 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 address of the company's registered office is Fieldfisher Riverbank House, 2 Swan Lane, London, EC4R 3TT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the reporting date the company had net current liabilities and net liabilities.

The company's parent undertaking P1F Holdings Limited has confirmed that it will provide such financial support as is necessary to enable the company to meet its working capital requirements for the foreseeable future.

Accordingly, at the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Reporting period length

The financial statements cover the year ended 31 December 2024 whereas the comparatives cover the 5 month period ended 31 December 2023. Accordingly, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

3 years straight line

Leases

The company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities classified as payable within one year are not amortised.

2. Employees

	Year ended 31.12.2024		Period from 01.08.2023 to 31.12.2023
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	3		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	5,136		5,136
At 31 December 2024	5,136		5,136
Accumulated depreciation
At 01 January 2024	1,896		1,896
Charge for the financial year	1,712		1,712
At 31 December 2024	3,608		3,608
Net book value
At 31 December 2024	1,528		1,528
At 31 December 2023	3,240		3,240

4. Debtors

	31.12.2024		31.12.2023
	£		£
Other debtors	21,518		44,980

5. Creditors: amounts falling due within one year

	31.12.2024		31.12.2023
	£		£
Trade creditors	0		7,200
Amounts owed to group undertakings	1,350,445		1,087,415
Other taxation and social security	0		3,174
Other creditors	4,655		10,707
	1,355,100		1,108,496

Amounts owed to group undertakings include amounts owed to parent and fellow subsidiary undertakings. The amounts owed are repayable on demand and do not bear interest.

6. Called-up share capital

	31.12.2024		31.12.2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

7. Financial commitments

Commitments

	31.12.2024		31.12.2023
	£		£
Total future minimum lease payments under non-cancellable operating leases	21,110		46,295