REGISTERED NUMBER: 11402204 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

METHOD RECYCLING UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C Korner

I J S Y Korner

REGISTERED OFFICE:

10 John Street

London

WC1N 2EB

REGISTERED NUMBER:

11402204 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

153

1,775

CURRENT ASSETS

Stocks

128,368

98,477

Debtors

5

84,946

40,091

Cash at bank

52,465

60,504

265,779

199,072

CREDITORS

Amounts falling due within one year

6

418,587

362,373

NET CURRENT LIABILITIES

(152,808

)

(163,301

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(152,655

)

(161,526

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(152,755

)

(161,626

)

SHAREHOLDERS' FUNDS

(152,655

)

(161,526

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2026 and were signed on its behalf by:

S C Korner - Director

1.	STATUTORY INFORMATION

Method Recycling UK Limited 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.

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 as Method Ltd, the Parent Company, will continue to support the Company as required for a minimum of 12 months and 1 day from signing of the Balance Sheet.

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.

Turnover

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

Turnover is made up of 3 different revenue streams-

Product revenue, subscription revenue intercompany recharges.

Product revenue relates to individual product items, and is recognised when the order is invoiced, being the point when the order is agreed upon.

Subscription income relates to customers being invoiced annually for 12 months contracts. Contracts grant the customer right to access the HaaS/SaaS product for an agreed period. Revenue is received in advanced and recognised over the length of the contract.

Intercompany recharges relates to recharges back to related parties at cost per their Transfer Pricing Agreement.

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 etc - 50% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently recognised at cost, net of depreciation and any impairment losses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow-moving items

Financial instruments

Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any other financial instruments, as covered by Section 12 of FRS 102.

Taxation

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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

4,620

Disposals

(2,657

)

At 31 March 2026

1,963

DEPRECIATION

At 1 April 2025

2,845

Charge for year

153

Eliminated on disposal

(1,188

)

At 31 March 2026

1,810

NET BOOK VALUE

At 31 March 2026

153

At 31 March 2025

1,775

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

82,809

40,091

Other debtors

2,137

-

84,946

40,091

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

7,715

7,365

Amounts owed to group undertakings

381,786

328,068

Taxation and social security

7,718

13,552

Other creditors & accruals

21,368

13,388

418,587

362,373

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

100

Ordinary

1

100

100

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are India Korner, Steven Korner, and Rosemary Bradford.

9.	ULTIMATE PARENT COMPANY

The ultimate parent company is Method Ltd, a company incorporated in New Zealand, by virtue of their 100% shareholding in Method Recycling UK Limited.