ACCOUNTS - Final Accounts

Registered number: 03920028

M&C SAATCHI EXPORT LIMITED

UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

M&C SAATCHI EXPORT LIMITED

COMPANY INFORMATION

Directors	Andrew Blackstone (appointed 31 March 2026)
	Simon Fuller
	Zaid Al-Qassab (resigned 31 March 2026)


Registered number	03920028


Registered office	36 Golden Square
	London
	W1F 9EE

M&C SAATCHI EXPORT LIMITED

CONTENTS

	Page
Directors' report	1
Directors' responsibilities statement	2
Statement of comprehensive income	3
Balance sheet	4 - 5
Notes to the financial statements	6 - 9

M&C SAATCHI EXPORT LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their report and the financial statements for the year ended 31 December 2025.

Directors

The directors who served during the year were:

Simon Fuller

Zaid Al-Qassab (resigned 31 March 2026)

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Company's board of directors and signed on its behalf.

................................................

Simon Fuller

Director

Date: 16 September 2026

Page 1

M&C SAATCHI EXPORT LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors are responsible for preparing 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 101 ‘Reduced Disclosure Framework’. 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 and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙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.

Page 2

M&C SAATCHI EXPORT LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	2024
Note	£000	£000


Administrative expenses	2	-
Operating profit	2	-
Interest payable and similar expenses	(2)	-
Profit before tax	-	-
Profit for the financial year	-	-

There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 6 to 9 form part of these financial statements.

Page 3

M&C SAATCHI EXPORT LIMITED

REGISTERED NUMBER: 03920028

BALANCE SHEET

AS AT 31 DECEMBER 2025


	2025	2025	2024	2024
Note	£000	£000	£000	£000


Fixed assets
Tangible assets	3		1		4
			1		4
Current assets
Debtors: amounts falling due within one year	4	3,025		2,047
Cash at bank and in hand	5	42		35
		3,067		2,082
Creditors: amounts falling due within one year	6	(2,921)		(1,938)
Net current assets			146		144
Total assets less current liabilities			147		148



Net assets excluding pension asset			147		148
Net assets			147		148

Page 4

M&C SAATCHI EXPORT LIMITED

REGISTERED NUMBER: 03920028

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025


	2025	2025	2024	2024
Note	£000	£000	£000	£000

Capital and reserves
Called up share capital	1	1
Profit and loss account	146	147
	147	148

The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

The Company was entitled to exemption from audit under section 479A of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to entities 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:

................................................

Simon Fuller

Director

Date: 16 September 2026

The notes on pages 6 to 9 form part of these financial statements.

Page 5

M&C SAATCHI EXPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

M&C Saatchi Export Limited is a private company limited by shares incorporated in England. The registered office is 36 Golden Square, London, W1F 9EE. The principal activity of the Company is the provision of advertising services, the company acts as an agent for M&C Saatchi (UK) Ltd.

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 101 'Reduced Disclosure Framework' and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

2.2

FRS 101 reduced disclosure exemptions

As permitted by FRS 101, the company has taken advantage of the disclosure exemptions available under that standard in relation to share-based payments, fair value measurements, presentation of a cash-flow statement, impairment of assets, and the revenue disclosure exemptions. Where relevant, equivalent disclosures have been given in the group account of M&C Saatchi plc. These group accounts are available to the public and can be obtained as set out in note 8.

2.3

Going concern

The Company has considerable financial resources and is expected to continue to generate positive cash flows on its own account for the foreseeable future. As a consequence, the directors believe that the Company is well placed to manage its business risks successfully.

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

In addition the Company’s immediate and ultimate parent company, M&C Saatchi plc, has indicated that for at least 12 months from the date of approval of these financial statements it will continue to make such funds available as are needed by the Company to continue in operational existence, and meet its liabilities as they fall due.

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Transactions in foreign currencies are translated at the exchange rate ruling at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated at the exchange rates ruling at the balance sheet date, with the resulting exchange differences recognised in the income statement.

Page 6

M&C SAATCHI EXPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Office equipment	-	25%
				Computer equipment	-	33%

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

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Page 7

M&C SAATCHI EXPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

3.	Tangible assets

	Office equipment	Computer equipment	Total
	£000	£000	£000
Cost or valuation
At 1 January 2025	52	42	94
At 31 December 2025	52	42	94
Depreciation
At 1 January 2025	50	40	90
Charge for the year on owned assets	1	2	3
At 31 December 2025	51	42	93
Net book value
At 31 December 2025	1	-	1
At 31 December 2024	2	2	4
The Net Book Value (CY) disagrees with the CY closing NBV balance (per the Trial Balance). Please apply a suitable journal in your trial balance to resolve this.			(1)

Debtors

					2025	2024
					£000	£000


Trade debtors	506	540
Amounts owed by group undertakings	2,237	1,226
Other debtors	85	88
Prepayments and accrued income	-	6
Tax recoverable	197	187
	3,025	2,047

Page 8

M&C SAATCHI EXPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Cash and cash equivalents
		2025	2024
		£000	£000

Cash at bank and in hand	42	35
	42	35

6.	Creditors: Amounts falling due within one year
		2025	2024
		£000	£000

Trade creditors	126	241
Amounts owed to group undertakings	2,707	-
Other creditors	28	1,274
Accruals and deferred income	60	423
	2,921	1,938

Related party transactions

The Company paid additional intercompany recharges of £150 (2024: Nil) in respect of its share of Group overhead costs such as building rent costs and the services of IT, HR and Operations staff.

At the balance sheet date, the Company was owed £2,237,371 (2024: £1,226,000) by other Group
companies in respect of trade receivables and it owed a total of £2,707,048 (2024: £Nil) to other Group
companies in respect of trade payables.

8.	Controlling party

The immediate parent company is M&C Saatchi (UK) Limited, which is registered in England and Wales. The ultimate parent company is M&C Saatchi plc, which is registered in England and Wales. M&C Saatchi plc is the only Group of which the Company is a member and for which Group accounts are prepared. Copies of the accounts are available from M&C Saatchi plc, 36 Golden Square, London W1F 9EE.

Page 9