REGISTERED NUMBER: 01317449 (England and Wales)

MacAlister Elliott & Partners Limited

Financial Statements

for the Year Ended 31 December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F H A Van Der Velden

F Whitwell (Appointed - 01.01.2025)

SECRETARY:

L B Hemmings (Resigned- 12/06/2025)

REGISTERED OFFICE:

7 Lynwood Court

Priestlands Place

Lymington

Hampshire

England

SO41 9GA

REGISTERED NUMBER:

01317449 (England and Wales)

SENIOR STATUTORY AUDITOR:

Moganarden Chelvanaigum

AUDITORS:

SKS Westlake Clark Audit

7 Lynwood Court

Priestlands Place

Lymington

Hampshire

SO41 9GA

Fixed assets

Tangible assets

6

7,582

5,738

Investments

7

125

125

7,707

5,863

Current assets

Debtors

8

743,560

658,364

Cash at bank and in hand

364,442

488,231

1,108,002

1,146,595

Creditors

Amounts falling due within one year

9

(826,052

)

(766,041

)

Net current assets

281,950

380,554

Total assets less current liabilities

289,657

386,417

Provisions for liabilities

10

(1,806

)

(1,326

)

Net assets

287,851

385,091

Capital and reserves

Called up share capital

11

180

180

Retained earnings

287,671

384,911

Shareholders' funds

287,851

385,091

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2026 and were signed on its behalf by:

F H A Van Der Velden - Director

1.	GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:

7 Lynwood Court

Priestlands Place

Lymington

Hampshire

England

SO41 9GA

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3.	ACCOUNTING POLICIES

BASIS OF PREPARATION

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling and the financial statements are rounded to the nearest pound.

The company has taken advantage of the exemptions available to small entities under FRS 102.

EXEMPTION FROM PREPARING GROUP ACCOUNTS

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts. Therefore, the financial statements cover the individual entity.

GOING CONCERN

The directors have assessed the company’s ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

The assessment included review of cash flow forecasts, expected trading performance and available financial resources. Although the company incurred a loss during the year, the directors have considered the continued financial support available from the parent company, Peterson Services Holding B.V., which has confirmed its intention to provide operational and financial support to the company for a period of at least twelve months from the date of approval of these financial statements.

On this basis, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

REVENUE RECOGNITION

Turnover is the amount derived from ordinary activities and represent amounts chargeable,net of value added tax, in respect of the sale of goods and services to the customers. The company recognises revenue when (a) the amount of revenue can be reliably measured; (b) it is probable that future economic benefits will flow to the entity; (c) specific criteria have been met for each of the company's activities; (d) and when contractual obligation have been completed.

TANGIBLE ASSETS

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.Equipment is capitalised if over £500

DEPRECIATION

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% straight line basis

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost less any impairments.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

FOREIGN CURRENCIES

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

PENSIONS

The company operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they become payable in accordance with the rules of the scheme.

BORROWINGS

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

SHARE CAPITAL

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

TRADE DEBTORS

Trade debtors are amounts due from customers for services rendered in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

INTEREST AND DIVIDENDS RECEIVABLE

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

The company is exposed to the usual credit risk and cash flow risk associated with selling on credit and manages this through robust credit control procedures and due diligence. As a consequence of its international activities, the company is exposed to changes in exchange rates. These exposures derive primarily from sales and purchases in foreign currencies (transaction exposure) or from holdings of foreign assets, debtors and creditors in currencies other than GBP (translation exposure). Euro and USD bank accounts are maintained to naturally hedge against movements in either currency.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary.

(ii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

(iii) Going concern

The directors consider the company to be a going concern, for the reasons as detailed in accounting policies to these financial statements.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 16 ) .

5.	AUDITORS' REMUNERATION

2025

2024

£

£

Auditors remunerations

8,250

7,460

Auditors remunerations -Non audit work

1,500

2,200

6.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2025

11,225

Additions

4,697

At 31 December 2025

15,922

DEPRECIATION

At 1 January 2025

5,487

Charge for year

2,853

At 31 December 2025

8,340

NET BOOK VALUE

At 31 December 2025

7,582

At 31 December 2024

5,738

7.	INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2025

and 31 December 2025

125

NET BOOK VALUE

At 31 December 2025

125

At 31 December 2024

125

The company's investments at the Balance Sheet date in the share capital of companies include the following:

MEP Mozambique Ltd

Registered office: Mozambique

Nature of business: Fishery Consultancy

%

Class of shares:

holding

Ordinary

99.00

2025

2024

£

£

Investments in subsidiaries

125

125

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

452,043

294,388

Amounts owed by group undertakings

123,080

99,970

Corporation tax receivable

-

22,762

Withholding tax receivable

67,208

61,225

Prepayments and accrued income

101,229

180,019

743,560

658,364

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank overdraft

213,684

241,783

Trade creditors

161,471

183,581

Pension contributions unpaid

9,726

4,632

Corporation tax liability

8,177

-

Taxation and social security

36,439

27,845

VAT

50,554

28,698

Other creditors

149,344

129,358

Accruals and deferred income

196,657

150,144

826,052

766,041

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Deferred tax

1,326

1,541

Deferred tax transferred to profit and loss account

480

(215

)

1,806

1,326

Deferred

tax

£

Balance at 1 January 2025

1,326

Provided during year

480

Balance at 31 December 2025

1,806

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,800

Ordinary shares

£0.10

180

180

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Independenet Auditors' Report was unqualified. The Senior Statutory Auditor who signed the Audit report was Moganarden Chelvanaigum, who signed for and on behalf of SKS Westlake Clark Audit .

13.	OPERATING LEASE COMMITMENTS

At 31 December 2025 the company had no operating lease commitments (2024: £Nil).

14.	RELATED PARTY DISCLOSURES

MEP Mozambique Limited (MEP MOZ) is a 99% subsidiary of MacAlister Elliott & Partners Limited (MEP Ltd). At the balance sheet date, an amount of £119,448 (2024: £99,970) was owed from MEP Moz to MEP Ltd.

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 transaction with wholly owned group companies.

15.	PARENT AND ULTIMATE PARENT UNDERTAKING

The company is a wholly owned subsidiary of Peterson Services Holding B.V., incorporated in the Netherlands.

The ultimate parent undertaking and controlling party is Stichting Administratiekantoor PPF Participatie Fonds, incorporated in the Netherlands.

The parent of the largest group in which these financial statements are consolidated is Peterson Services Holding B.V,

incorporated in Netherlands.

The address of Peterson Services Holding B.V is:

Boompjies 270, Rotterdam, 3011XZ, Netherlands