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REGISTERED NUMBER: 12985927 (England and Wales)

Unaudited Financial Statements

for the period

1 January 2024 to 30 December 2024

for

MMC PACKAGING EUROPE LTD

| MMC PACKAGING EUROPE LTD (REGISTERED NUMBER: 12985927) |

Contents of the Financial Statements

for the period 1 January 2024 to 30 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| MMC PACKAGING EUROPE LTD |

Company Information

for the period 1 January 2024 to 30 December 2024

| Director: | P M Gilligan

| Registered office: | 3rd Floor 86 - 90 Paul Street

| London

| EC2A 4NE

| Registered number: | 12985927 (England and Wales)

| Accountants: | Cooper Parry Advisory Limited

| Broadwalk House, 5th Floor

| 5 Appold Street

| Broadgate

| London

| EC2A 2AG

| MMC PACKAGING EUROPE LTD (REGISTERED NUMBER: 12985927) |

Balance Sheet

30 December 2024

2024 | 2023 |

| Notes | £ | £ | £ | £

Fixed assets

Tangible assets | 4 | 254,859 |  | 254,906 |  |

Current assets

Stocks | 4,188 |  | 4,188 |  |

Debtors | 5 | 73,491 |  | 24,367 |  |

Cash at bank | 12,401 |  | 4,788 |  |

90,080 |  | 33,343 |  |

Creditors

Amounts falling due within one year | 6 | 1,016,708 |  | 782,075 |  |

Net current liabilities | (926,628 | ) | (748,732 | ) |

Total assets less current liabilities | (671,769 | ) | (493,826 | ) |

Capital and reserves

Called up share capital | 7 | 1,000 |  | 1,000 |  |

Retained earnings | (672,769 | ) | (494,826 | ) |

Shareholders' funds | (671,769 | ) | (493,826 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 June 2026 and were signed by:

P M Gilligan - Director

| MMC PACKAGING EUROPE LTD (REGISTERED NUMBER: 12985927) |

Notes to the Financial Statements

for the period 1 January 2024 to 30 December 2024

1. | Statutory information

| Mmc Packaging Europe Ltd 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. | Accounting policies

| Basis of preparing the financial statements

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

| The financial statements have been prepared on a going concern basis. The company is supported by its parent company, MMC Holding International Ltd, and associated group undertakings. The group has secured funding through equity and loan finance, which is expected to be available to support the Company's ongoing operations as required.

| MMC Packaging Europe Ltd operates a branch in Bulgaria where investment has been made to establish production capability. The directors intend to undertake a review of the ongoing viability of the Bulgarian plant during early 2025 as part of the Company's operational planning.

| Having considered the Company's financial position, available funding and forecast cash flows, the directors have a reasonable expectation that the Company will be able to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

| 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.

| Key source of estimation, uncertainty and judgement

| The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

| There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

| There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

| There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | Straight line over 5 years

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| MMC PACKAGING EUROPE LTD (REGISTERED NUMBER: 12985927) |

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

2. | Accounting policies - continued

| Financial instruments

| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

| Taxation

| Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | Employees and directors

| The average number of employees during the period was 4 (2023 - 1 ) .

| MMC PACKAGING EUROPE LTD (REGISTERED NUMBER: 12985927) |

Notes to the Financial Statements - continued

for the period 1 January 2024 to 30 December 2024

4. | Tangible fixed assets

Improvements | Plant and |

to property | machinery | Totals |

| £ | £ | £

| Cost

| At 1 January 2024 | 43,785 |  | 225,204 |  | 268,989 |  |

| Additions | 66,473 |  | 457 |  | 66,930 |  |

| At 30 December 2024 | 110,258 |  | 225,661 |  | 335,919 |  |

| Depreciation

| At 1 January 2024 | 8,757 |  | 5,326 |  | 14,083 |  |

| Charge for period | 34,605 |  | 32,372 |  | 66,977 |  |

| At 30 December 2024 | 43,362 |  | 37,698 |  | 81,060 |  |

| Net book value

| At 30 December 2024 | 66,896 |  | 187,963 |  | 254,859 |  |

| At 31 December 2023 | 35,028 |  | 219,878 |  | 254,906 |  |

5. | Debtors: amounts falling due within one year |

2024 | 2023 |

| £ | £

| Trade debtors | 52,281 |  | 5,515 |  |

| Other debtors | 21,210 |  | 18,852 |  |

73,491 |  | 24,367 |  |

6. | Creditors: amounts falling due within one year |

2024 | 2023 |

| £ | £

| Trade creditors | 16,859 |  | 18,756 |  |

| Amounts owed to group undertakings | 990,575 |  | 749,725 |  |

| Taxation and social security | 515 |  | 1,152 |  |

| Other creditors | 8,759 |  | 12,442 |  |

1,016,708 |  | 782,075 |  |

7. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

value: |  | £ | £

| 1,000 | Ordinary Shares | £1 | 1,000 |  | 1,000 |  |

8. | Ultimate controlling party

| The company's parent entity is MMC Holding International Ltd, a company registered in England and Wales.

| The company's registered office is 3rd Floor 86 - 90 Paul Street, London, England, EC2A 4NE