Company Registration Number 04096973
METHANEX (UK) LIMITED
REGISTERED NUMBER: 04096973
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 9 form part of these financial statements.
Page 1
METHANEX (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The company is a private company limited by shares, incorporated and domiciled in the United Kingdom.
The principal activity of the company is the management of its assets and a defined benefit pension scheme.
These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates.
The principal activity of the company is the management of its assets and a defined benefit pension scheme.
These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The directors have considered their going concern assessment. Given the strong net asset position, cash balance and profitability of the group as a whole, the directors consider it reasonable that the company will be able to pay its debts as they fall due, as they have the support of the group. The support available from the group, if required, significantly improves the company's liquidity position for the ensuing period. The directors have, by review of parent undertaking financial information and enquiry, obtained sufficient assurance that group support is available if called upon.
After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.
After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.
Functional and presentation currency
Transactions and balances
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METHANEX (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Defined benefit pension plan
The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.
The liability recognised in the Statement of financial position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.
The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').
The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.
Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.
The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:
a) the increase in net pension benefit liability arising from employee service during the period; and
b) the cost of plan introductions, benefit changes, curtailments and settlements.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.
The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.
The liability recognised in the Statement of financial position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.
The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').
The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.
Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.
The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:
a) the increase in net pension benefit liability arising from employee service during the period; and
b) the cost of plan introductions, benefit changes, curtailments and settlements.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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METHANEX (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate
can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties,
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties,
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
The Company only enters into basic financial instrument 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 related parties and investments in ordinary shares.
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METHANEX (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 5
METHANEX (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a Defined benefit pension scheme.
The pension plan provides defined benefits to employees of the company who were previously members of the ICI Pension Fund. The plan is self-administered, and its assets are held independently of the company's finances. The plan closed for future accrual with effect from 31 December 2004.
The plan commenced on 1 January 2001. A full actuarial valuation was carried out on 31 December 2025, by a fully qualified independent actuary.
The best estimate of contributions to be paid by the company to the scheme for the period commencing 1 January 2020 is nil. Life assurance premiums, administration expenses and levies are met separately by the company.
The plan commenced on 1 January 2001. A full actuarial valuation was carried out on 31 December 2025, by a fully qualified independent actuary.
The best estimate of contributions to be paid by the company to the scheme for the period commencing 1 January 2020 is nil. Life assurance premiums, administration expenses and levies are met separately by the company.
Page 6
METHANEX (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
7.Pension commitments (continued)
Page 7
METHANEX (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
7.Pension commitments (continued)
Page 8
METHANEX (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company is a subsidiary undertaking of Methanex International Holdings Limited . The ultimate controlling party is Methanex Corporation , the parent company.
The largest group in which the results of the Company are consolidated is that headed byMethanex Corporation , incorporated in Canada. The smallest group in which they are consolidated is that headed by Methanex International Holdings Limited , incorporated in the Cayman Islands. The consolidated financial statements of these groups are available to the public and may be obtained from Methanex Corporation, 1800 Waterfront Centre, 200 Burrard Street, Vancouver, BC V6C 3M1, Canada .
The largest group in which the results of the Company are consolidated is that headed by
The audit report was signed on 8 June 2026 by Simon Turner (Senior statutory auditor) on behalf of Armstrong Watson Audit Limited .
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