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Registered number: 00933031 MERSONA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025
MERSONA LIMITED COMPANY INFORMATION
Directors | A M Georgevic
| D Georgevic
| K R R Georgevic
| M A Georgevic
| N J Georgevic
Company secretary | N J Georgevic
Registered number | 00933031
Registered office | PO Box 12
| 12 Coombs Road
| Halesowen
| B62 8AP
Independent auditors | Nyman Libson Paul LLP
| Chartered Accountants & Statutory Auditors
| 124 Finchley Road
| London
| NW3 5JS
MERSONA LIMITED CONTENTS
| Page
Strategic Report | 1
Directors' Report | 2 - 3
Independent Auditors' Report | 4 - 7
Statement of Comprehensive Income | 8
Statement of Financial Position | 9
Statement of Changes in Equity | 10
Notes to the Financial Statements | 11 - 19
MERSONA LIMITED STRATEGIC REPORT FOR THE PERIOD ENDED 26 OCTOBER 2025
Business review
The results for the company show a pre-tax profit for the trading period of £12,278 (2024: £76,296 loss). The company has net assets of £5,874 (2024: £26,489). The business continues to research the development of optical products available in the market in order to ensure that the retail companies within the group are able to offer the latest products to its customers. The management of the business is subject to a number of risks. Due to the company's position as a glazing and distribution service solely for other trading companies in the group, the risk to incoming business is linked to their trading performance and as such the risks thereto are discussed in the group directors' reports. The key business risk is the risk inherent from the business operating from a single site. The directors have in place strategies to manage the outsourcing of production to minimise disruption. The key financial performance indicators are gross profit and operating profit: 2025 2024 2023 £ £ £ Gross (loss)/profit 1,216,404 1,041,026 944,308 Operating (loss)/profit 12,278 (76,296) (163,076)
Principal risks and uncertainties
The company's principal financial instruments comprise bank balances, trade creditors and group company loans. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations. Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below. Liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. The company makes use of money market facilities where funds are available. In respect of loans these comprise loans from connected companies. The company manages the credit and cash flow risk by monitoring the loans regularly. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. This report was approved by the board on 14 July 2026 and signed on its behalf.
N J Georgevic Director
Page 1
MERSONA LIMITED DIRECTORS' REPORT FOR THE PERIOD ENDED 26 OCTOBER 2025 The directors present their report and the financial statements for the period ended 26 October 2025.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations. 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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: ∙select suitable accounting policies for the company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. 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 to 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.
Results and dividends
The loss for the period, after taxation, amounted to £20,615 (2024 - loss £76,296). There were no dividends paid during the period nor the prior period.
Directors
The directors who served during the period were:
A M Georgevic
D Georgevic
K R R Georgevic
M A Georgevic
N J Georgevic
Future developments
There are no likely future developments aside from the continuation and expansion of the company's current business activities. Page 2
MERSONA LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE PERIOD ENDED 26 OCTOBER 2025
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the company since the year end.
Auditors
The auditors, Nyman Libson Paul LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 14 July 2026 and signed on its behalf.
N J Georgevic Director
Page 3
MERSONA LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MERSONA LIMITED
Opinion
We have audited the financial statements of Mersona Limited (the 'company') for the period ended 26 October 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, 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: ∙give a true and fair view of the state of the company's affairs as at 26 October 2025 and of its profit for the period then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 directors' 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 financial statements are 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. Page 4
MERSONA LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MERSONA LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the 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 or the Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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. Page 5
MERSONA LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MERSONA LIMITED (CONTINUED)
Auditors' 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 Auditors' 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. 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 identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risk, including obtaining audit evidence that is sufficient and appropriate to provide as basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non- compliance with laws and regulations, we have: • considered the nature of the industry and sectors, control environment and business performance; • made enquiries of management about their own identification and assessment of the risk and irregularities; • performed audit work over the risk of management override on controls, involving testing of journal entries and other adjustments for appropriateness and reviewing accounting estimates for bias; • undertaken appropriate sample- based testing of bank transactions; • identified and evaluated compliance with relevant laws and regulations and made enquiries of any instances of non-compliance; and • discussed matters among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. Page 6
MERSONA LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MERSONA LIMITED (CONTINUED)
Use of our 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 Auditors' 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. Ankit Shah (Senior Statutory Auditor) for and on behalf of Nyman Libson Paul LLP Chartered Accountants Statutory Auditors 124 Finchley Road London NW3 5JS 14 July 2026 Page 7
MERSONA LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 26 OCTOBER 2025
| 26 October | 27 October
| 2025 | 2024
| £ | £
Turnover | 4 | 21,750,596 | 20,317,111
Cost of sales |  | (20,534,192) | (19,276,085)
Gross profit |  | 1,216,404 | 1,041,026
Distribution costs |  | (110,208) | (100,767)
Administrative expenses |  | (1,093,918) | (1,016,555)
Operating profit/(loss) |  | 12,278 | (76,296)
Tax on profit/(loss) | 7 | (32,893) | -
Loss for the financial period |  | (20,615) | (76,296)
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 11 to 19 form part of these financial statements.
Page 8
MERSONA LIMITED REGISTERED NUMBER: 00933031 STATEMENT OF FINANCIAL POSITION AS AT 26 OCTOBER 2025
|  | 26 October |  | 27 October
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible fixed assets |  |  | 271,968 |  | 395,650
Current assets |  |  |  |  |
Stocks | 9 | 4,526,859 |  | 4,269,217 |
Debtors: amounts falling due within one year | 10 | 337,885 |  | 431,083 |
Cash at bank and in hand | 11 | 192,072 |  | 462,871 |
|  | 5,056,816 |  | 5,163,171 |
Creditors: amounts falling due within one year | 12 | (5,322,910) |  | (5,532,332) |
Net current liabilities |  |  | (266,094) |  | (369,161)
Total assets less current liabilities |  |  | 5,874 |  | 26,489
Net assets |  |  | 5,874 |  | 26,489
Capital and reserves |  |  |  |  |
Called up share capital | 13 |  | 51 |  | 51
Capital redemption reserve |  |  | 19 |  | 19
Profit and loss account |  |  | 5,804 |  | 26,419
|  |  | 5,874 |  | 26,489
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 July 2026.
N J Georgevic
Director
The notes on pages 11 to 19 form part of these financial statements. Page 9
MERSONA LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 26 OCTOBER 2025
| Called up share capital | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 29 October 2023 | 51 | 19 | 102,715 | 102,785
Comprehensive income for the period |  |  |  |
Profit for the period | - | - | (76,296) | (76,296)
Total comprehensive income for the period | - | - | (76,296) | (76,296)
At 27 October 2024 | 51 | 19 | 26,419 | 26,489
Comprehensive income for the period |  |  |  |
Loss for the period | - | - | (20,615) | (20,615)
Total comprehensive income for the period | - | - | (20,615) | (20,615)
At 26 October 2025 | 51 | 19 | 5,804 | 5,874
| The notes on pages 11 to 19 form part of these financial statements.
Page 10
MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025
1. | General information
Mersona Limited is a limited liability company, incorporated in the United Kingdom, registered at and trading from 12 Coombs Road, Halesowen, Birmingham, B62 8AP. The principal activity of the company continued to be that of the production and distribution of spectacles and related products. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The company's functional and presentational currency is GBP, rounded to the nearest £1. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3). In preparing these financial statements, the company has taken advantage of disclosure exemptions permitted by Section 1.12 of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" as follows: - Section 7 Statement of Cash Flows; - Section 11 Basic Financial Instruments; and - Section 33 Related Party Disclosures. This information is included in the consolidated financial statements of the company's parent undertaking for the period ended 27 October 2024. Copies of these consolidated financial statements may be obtained from the UK Companies House website: https://beta.companieshouse .gov.uk/. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company shows net assets at the reporting date of £5,874 (2024: £26,489). Existing funding facilities, forecasts and projections indicate that the company has adequate resources to continue with some level of activity from minimal to full levels. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has received formal confirmation from its parent company that the entity will receive the financial support it requires to enable it to meet its liabilities as they fall due. Based on the above, the directors consider it appropriate to continue adopting the going concern basis in preparing its financial statements. In making their assessment of going concern, the directors have considered information for a period of at least twelve months from the date the financial statements were authorised for issue. Page 11
MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods The company operates an optical production and distribution business, where upon completion of the assembly of the products, the sale of goods is recognised at the point of delivery to the customer. Revenue from the sale of goods is recognised when: - the significant risks and rewards of ownership have been transferred to the buyer; - the company retains no continuing involvement or control over the goods; - the amount of revenue can be measured reliably; - it is probable that the company will receive the consideration due under the transaction.
| 2.4 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
| 2.5 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 12
MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025 2.Accounting policies (continued)
| 2.6 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 12.5% on cost
|  |  |  | Motor vehicles | - | 30% on written down value
|  |  |  | Office equipment | - | 12.5% on cost
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.7 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 13
MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025 2.Accounting policies (continued)
| 2.11 | Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from third parties, and loans to related parties.
| 2.12 | Accounting date
Accounts are drawn up for periods of 52 weeks (and, where necessary, 53 weeks) ending on the last Sunday in October.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following are the company's key accounting estimates and assumptions: Tangible assets Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Stock provisioning When calculating any stock provision, management considers the nature and condition of the stock as well as applying assumptions about the saleability of its optical products. During the annual reassessment of stock, management take into consideration factors such as product development, technological innovation and current demand.
4. | Turnover
The whole of the turnover is attributable to the production and distribution of optical product.
| All turnover arose within the United Kingdom.
Page 14
MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025
5. | Auditors' remuneration
| During the period, the company obtained the following services from the company's auditors:
|  |  |  |  | 26 October | 27 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the company's auditors for the audit of the company's financial statements | 12,000 | 10,000
| The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.
6. | Employees
| Staff costs were as follows:
|  |  |  |  | 26 October | 27 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 1,355,347 | 1,268,254
| Social security costs | 175,588 | 99,150
| Defined contribution pension costs | 52,956 | 45,664
|  | 1,583,891 | 1,413,068
| The average monthly number of employees, including the directors, during the period was as follows:
|  |  | 26 October | 27 October
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Office and management | 10 | 13
|  | Production and sales | 68 | 67
|  |  | 78 | 80
Page 15
MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025
7. | Taxation
| Factors affecting tax charge for the period
| The tax assessed for the period is lower than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 26 October | 27 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit/(loss) on ordinary activities before tax | 12,278 | (76,296)
| Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 3,070 | (19,074)
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 2,508 | 2,179
| Capital allowances for period in excess of depreciation | 27,315 | (10,443)
| Group relief | - | 27,338
| Total tax charge for the period | 32,893 | -
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 16
MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025
8. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Office equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 28 October 2024 | 490,716 | 14,062 | 283,419 | 788,197
| Additions | 14,436 | 21,370 | 884 | 36,690
| Disposals | (12,738) | - | (5,013) | (17,751)
| At 26 October 2025 | 492,414 | 35,432 | 279,290 | 807,136
| Depreciation |  |  |  |
| At 28 October 2024 | 223,740 | 9,462 | 159,345 | 392,547
| Charge for the period on owned assets | 91,682 | 1,872 | 66,817 | 160,371
| Disposals | (12,737) | - | (5,013) | (17,750)
| At 26 October 2025 | 302,685 | 11,334 | 221,149 | 535,168
| Net book value |  |  |  |
| At 26 October 2025 | 189,729 | 24,098 | 58,141 | 271,968
| At 27 October 2024 | 266,976 | 4,600 | 124,074 | 395,650
9. | Stocks
|  |  |  |  | 26 October | 27 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 4,526,859 | 4,269,217
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MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025
10. | Debtors
|  |  |  |  | 26 October | 27 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 144,268 | 345,185
| Prepayments | 193,617 | 85,898
|  | 337,885 | 431,083
11. | Cash and cash equivalents
|  |  |  |  | 26 October | 27 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 192,072 | 462,871
12. | Creditors: Amounts falling due within one year
|  |  |  |  | 26 October | 27 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 1,997,740 | 1,780,195
| Amounts owed to group undertakings | 2,938,177 | 3,270,407
| Corporation tax | 32,893 | -
| Other creditors | 21,010 | 15,813
| Accruals | 333,090 | 465,917
|  | 5,322,910 | 5,532,332
13. | Share capital
|  |  |  |  | 26 October | 27 October
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 51 (2024 - 51) Ordinary shares of £1.00 each | 51 | 51
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MERSONA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 26 OCTOBER 2025
14. | Contingent liabilities
The company has given a joint and several inter-company guarantee to secure the overdraft of its associated companies. As at the period end, the total amount due to the company's bankers was nil.
15. | Pension commitments
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £52,956 (2024: £45,664). There were no amounts payable to the fund at the reporting or prior period reporting date.
16. | Related party transactions
| The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with group companies on the grounds that the company is a wholly owned subsidiary.
17. | Controlling party
The immediate and ultimate parent company is Seamap Limited, a company under the control of N J and M A Georgevic, directors of the company.
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