Report of the Directors and

Financial Statements

for the Period

6 November 2024 to 31 December 2025

for

LTA MEP Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Statement of Income and Retained Earnings

6

Balance Sheet

7

Cash Flow Statement

8

Notes to the Cash Flow Statement

9

Notes to the Financial Statements

10

DIRECTORS:

R May

T J Roles

REGISTERED OFFICE:

8-10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

16063503 (England and Wales)

AUDITORS:

Williams & Co Epsom LLP

Statutory Auditors

8-10 South Street

Epsom

Surrey

KT18 7PF

The directors present their report with the financial statements of the company for the period 6 November 2024 to 31 December 2025.

INCORPORATION

The company was incorporated on 6 November 2024 and commenced trading on 1 January 2025.

DIVIDENDS

No dividends will be distributed for the period ended 31 December 2025.

DIRECTORS

The directors who have held office during the period from 6 November 2024 to the date of this report are as follows:

R May - appointed 6 November 2024

T J Roles - appointed 6 November 2024

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 judgements 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Williams & Co Epsom LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R May - Director

24 September 2026

Opinion

We have audited the financial statements of LTA MEP Limited (the 'company') for the period ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 31 December 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 UK, including the FRC'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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page two, 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 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.

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

· Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

· Reviewing minutes of meetings of those charged with governance;

· Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

· Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

· Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Paul Smith FCA (Senior Statutory Auditor)

for and on behalf of Williams & Co Epsom LLP

Statutory Auditors

8-10 South Street

Epsom

Surrey

KT18 7PF

24 September 2026

TURNOVER

934,989

Cost of sales

498,266

GROSS PROFIT

436,723

Administrative expenses

164,102

OPERATING PROFIT and

PROFIT BEFORE TAXATION

272,621

Tax on profit

5

64,371

PROFIT FOR THE FINANCIAL PERIOD

208,250

RETAINED EARNINGS AT END OF PERIOD

208,250

FIXED ASSETS

Tangible assets

6

40,390

CURRENT ASSETS

Debtors

7

779,167

Cash at bank

51,174

830,341

CREDITORS

Amounts falling due within one year

8

655,384

NET CURRENT ASSETS

174,957

TOTAL ASSETS LESS CURRENT LIABILITIES

215,347

PROVISIONS FOR LIABILITIES

9

6,097

NET ASSETS

209,250

CAPITAL AND RESERVES

Called up share capital

10

1,000

Retained earnings

11

208,250

SHAREHOLDERS' FUNDS

209,250

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2026 and were signed on its behalf by:

R May - Director

Cash flows from operating activities

Cash generated from operations

1

(118,542

)

Net cash from operating activities

(118,542

)

Cash flows from investing activities

Purchase of tangible fixed assets

(47,093

)

Net cash from investing activities

(47,093

)

Cash flows from financing activities

New loans in year

215,809

Share issue

1,000

Net cash from financing activities

216,809

Increase in cash and cash equivalents

51,174

Cash and cash equivalents at beginning of period

2

-

Cash and cash equivalents at end of period

2

51,174

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

£

Profit before taxation

272,621

Depreciation charges

6,703

279,324

Increase in trade and other debtors

(779,167

)

Increase in trade and other creditors

381,301

Cash generated from operations

(118,542

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 December 2025

31.12.25

6.11.24

£

£

Cash and cash equivalents

51,174

-

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 6.11.24

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank

-

51,174

51,174

-

51,174

51,174

Total

-

51,174

51,174

1.	STATUTORY INFORMATION

LTA MEP 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

Straight line over 3 years

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

£

Wages and salaries

397,682

Social security costs

56,389

Other pension costs

17,176

471,247

The average number of employees during the period was as follows:

Staff

6

£

Directors' remuneration

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

£

Other operating leases

8,247

Depreciation - owned assets

6,703

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

£

Current tax:

UK corporation tax

58,274

Deferred tax

6,097

Tax on profit

64,371

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

Additions

26,168

20,925

47,093

At 31 December 2025

26,168

20,925

47,093

DEPRECIATION

Charge for period

2,686

4,017

6,703

At 31 December 2025

2,686

4,017

6,703

NET BOOK VALUE

At 31 December 2025

23,482

16,908

40,390

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

708,496

Other debtors

4,405

Prepayments and accrued income

66,266

779,167

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

43,299

Amounts owed to group undertakings

215,809

Tax

58,274

Social security and other taxes

24,069

VAT

119,354

Other creditors

5,579

Accruals and deferred income

189,000

655,384

9.	PROVISIONS FOR LIABILITIES

£

Deferred tax

6,097

Deferred

tax

£

Provided during period

6,097

Balance at 31 December 2025

6,097

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1,000

Ordinary shares

1

1,000

11.

RESERVES

Retained

earnings

£

Profit for the period

208,250

At 31 December 2025

208,250

12.	RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

During the period, LTD MEP Limited entered into transactions with Lysander Associates Limited, a fellow subsidiary under the same parent company. All transactions with related parties were conducted in the normal course of business.

LTD MEP Limited made sales of £23,150 to Lysander Associates Limited and incurred management fees of £23,700 charged by Lysander Associates Limited.

Included within the trade creditor balance is an amount of £37,831, owed to Lysander Associates Limited.

As at the period end, LTD MEP owed £215,809 to Lysander Associates Limited in respect of intercompany trading.

Entities with control, joint control or significant influence over the entity

During the period, LTA MEP Limited entered into transactions with Lysander Associates Limited, a fellow subsidiary under the same parent company. All transactions with related parties were conducted in the normal course of business.

LTA MEP Limited made sales of £23,150 to Lysander Associates Limited and incurred management fees of £23,700 charged by Lysander Associates Limited.

Included within the trade creditor balance is an amount of £37,831, owed to Lysander Associates Limited.

As at the period end, LTA MEP owed £215,809 to Lysander Associates Limited in respect of intercompany trading.

13.	ULTIMATE CONTROLLING PARTY

Lysander Group Limited owns 100% of the issued share capital of LTA MEP Limited.

At the year end, the company was still controlled by the Board of Directors. In May 2026, the directors sold some of their shares in Lysander Group Limited which has resulted in this company now being owned by a new immediate parent company, Martini Bidco Limited.

As a result, there is now no overall controlling party as a result of these changes.