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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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MEMO UK HOLDINGS LIMITED
COMPANY INFORMATION
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MEMO UK HOLDINGS LIMITED
CONTENTS
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MEMO UK HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The director presents the strategic report together with the financial statements for the year ended 31 December 2025.
MEMO UK Holdings Ltd. and Subsidiaries (the "Group") is a leading provider of marketing operations and digital asset management technology solutions. The Group's products and services enable marketers to govern and grow their brand through the management of budgets, data, people, and content throughout the ideation, workflow and campaign delivery of the brand experience while providing a system to monitor return on investments of those related activities.
The Group continues to lead the marketing analyst landscape, having been recognized as a Leader in the 2026 Forrester Wave for Digital Asset Management, the 2025 Gartner® Magic Quadrant™ for Digital Asset Management (DAM) and Marketing Work Management (MWM) Platforms, and the most recent 2024 IDC MarketScape report. Sales and field operations during the period focused on expanding our existing customer base, increasing our customer lead generation, and new business development activities to accelerate obtaining new customers on our cloud-based solutions and productivity improvements. We continue to expand our target customer base to include mid-market in addition to enterprise level customers. The research and development teams invest their efforts in advancements to our SaaS platform, artificial intelligence, improving the customer interface and adding functionality. During the period, we booked new recurring revenue business of $12.3 million equally derived from new customers and our existing customer base. Customer attritions totaled $7.1 million in the period and were primarily attributable to customer consolidations. Gross Margin achieved of 69% continues to increase going forward as the efficiencies of a cloud based scalable platform continue to be realized. We continue to invest behind our research & development programme. This programme included development efforts to enhance use of artificial intelligence and content personalization, further leverage the delivery of our products on Microsoft’s Azure infrastructure and to improve the user interface. We also are devoting significant resources to improving customer ecosystem integrations.
The market continues to evolve as customer requirements become increasingly sophisticated and content centric. There remains a sizeable and growing market for technology to accelerate our customers’ and prospects’ digital marketing strategies. We continue to see the emergence of cloud-based competitors offering limited functionality point solutions compared to the Group’s end-to-end solutions that have gained some recognition within departmental or limited user base purchases in the market.
We continue to advance and innovate our SaaS cloud offerings and initiatives to expand our content-focused offerings across our solution set. The product roadmap includes continued development of artificial intelligence and personalization applications and improvements in the user interface, integrations, and advancements in business intelligence and reporting, automation and visualization of workflows.
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MEMO UK HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Key indicators are bookings growth and limiting customer churn as well as subscription and professional services gross margins. Measuring sales productivity and lead conversion rates are a focus as well. We continue efforts to improve our measurements of customer satisfaction and employee engagement in 2026.
We currently are actively selling our products in the United Kingdom, Europe, Australia, South America, Singapore, South Africa and the United States.
The director always considers, both individually and together, that he has acted in the way he considers, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, having regard to the stakeholders and matters set out in s172(1) (a) - (f) of the Companies Act 2006, in the decisions taken during the year ended 31 December 2025.
Our plan is designed to have a long-term beneficial impact on the Company and to contribute to its success in delivering a high quality of service across all of our business divisions. Our employees are fundamental to the delivery of our plan. We aim to be a responsible employer in our approach to the pay and benefits our employees receive. The health, safety and well-being of our team members is one of our primary considerations in the way we conduct our business. Engagement with suppliers and customers is also key to our success. We meet with our major manufacturing partners regularly throughout the year and take appropriate action, when necessary, to prevent involvement in modern slavery, corruption, bribery and breaches of competition law. Our plan considers the impact of the Company’s operations on the community and environment and our wider social responsibilities, and in particular how we comply with environmental legislation and pursue waste-saving opportunities and react promptly to local concerns. As a director, our intention is to behave in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours and in doing so, will contribute to the delivery of our plan. The intention is to nurture our reputation, through both construction and delivery of our plan, that reflects our values, beliefs and culture. Our intention is to behave responsibly to all of our stakeholders, including our shareholders, and treat them fairly so that they too may benefit from the successful delivery of our plan.
This report was approved by the board and signed on its behalf.
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MEMO UK HOLDINGS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The director presents his report and the financial statements for the year ended 31 December 2025.
The director is responsible for preparing the Group Strategic Report, the Director's Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements 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 Group will continue in business.
The director is 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 the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to $6,596 thousand (2024 - loss $14,304 thousand).
Management have not declared a dividend during the year (2024 - $Nil).
The director who served during the year was:
We continue to advance and innovate our SaaS cloud offerings and initiatives to expand our content-focused offerings across our solution set. The product roadmap includes advancements in the use of artificial intelligence, content personalization, business intelligence and reporting and automation and visualization of workflows.
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MEMO UK HOLDINGS LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Board of Directors always considers, both individually and together, that they have acted in good faith in a way that would be most likely to promote the success of the Company for the benefit of its members as a whole, having regard to the stakeholders and matters set out in s172(1) (a) - (f) of the Companies Act 2006, in the decisions taken during the year ended 31 December 2025.
Our plan is designed to have a long-term beneficial impact on the group and to fulfil our Mission to empower marketers to reach their full potential and continuously deliver value back to their organizations. We do that by striving to deliver best in class marketing operations and digital asset management technology solutions. We operate within the context of our core values of Operational Excellence – Do less, execute at a higher level of quality and consistency; Cycle Time – Relentless urgency in decision making, Bias for action; Learning Culture – Continuous improvement and experimentation; Intellectual Honesty – Psychological safety enables data-driven decisions; and One Team – Role Clarity and cross-team value creation. Our employees are fundamental to the delivery of our plan. We aim to be a responsible employer in our approach to the pay and benefits our employees receive. The health, safety and well-being of our team members is one of our primary considerations in the way we conduct our business. We provide an employee hotline for anonymous reporting of workplace issues. We require ethics, anti-bribery/corruption and workplace behaviour training of all employees. Engagement with suppliers and customers is also key to our success. We partner with our major suppliers to optimize service and performance with regular meetings, and we work closely with our customers to ensure we meet data security, regulatory compliance and other critical measures as well as optimal product performance. Our plan considers the impact of the Company’s operations on the community and environment and our wider social responsibilities. Regular Aprimo Helps events are scheduled across the globe to ensure we contribute to the communities in which we work. As the Board of Directors, our intention is to behave in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours and in doing so, will contribute to the delivery of our plan. The intention is to nurture our reputation, through both innovation and delivery of our plan, that reflects our values, beliefs and culture. Our intention is to behave responsibly towards all our enlightened shareholders and treat them fairly and equally, so they too may benefit from the successful delivery of our plan.
The Group has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.
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MEMO UK HOLDINGS LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group has evaluated subsequent events occurring through to the date that the consolidated financial statements were ready to be issued, for events requiring recording or disclosure in the Group’s consolidated financial statements.
There were no post balance sheet events other than those disclosed in the consolidated financial statements.
The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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MEMO UK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEMO UK HOLDINGS LIMITED
We have audited the financial statements of MEMO UK Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company 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 auditing the financial statements, we have concluded that the director's 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 Group's or the Parent 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 director with respect to going concern are described in the relevant sections of this report.
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MEMO UK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEMO UK HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The director is 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's Report.
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MEMO UK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEMO UK HOLDINGS LIMITED (CONTINUED)
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 Auditor's 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 Group 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:
∙Enquiry of management around actual and potential litigation and claims;
∙Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
∙Performing audit work over the risk of management 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 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 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 Auditor's Report.
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MEMO UK HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MEMO UK HOLDINGS LIMITED (CONTINUED)
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 Auditor's 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.
for and on behalf of
Statutory Auditor
Maidenhead, United Kingdom
Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
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MEMO UK HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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MEMO UK HOLDINGS LIMITED
REGISTERED NUMBER: 10156227
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 41 form part of these financial statements.
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MEMO UK HOLDINGS LIMITED
REGISTERED NUMBER: 10156227
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 41 form part of these financial statements.
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MEMO UK HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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MEMO UK HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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MEMO UK HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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MEMO UK HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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MEMO UK HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Memo UK Holdings Ltd is a private company limited by shares incorporated in England and Wales, registration number 10156227. The principal place of business is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL.
The principal activity of the Group during the year was the licencing and delivery of marketing software and consultancy.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
In forming this assessment, the Director considered the Group's operating performance, cash flow forecasts, available liquidity facilities, covenant compliance and the maturity profile of the Group's borrowings. At 31 December 2025, the Group reported net liabilities of approximately $132 million and had external borrowings of approximately $130 million, the majority of which are contractually repayable in May 2028. The Group also reported losses of approximately $6.6 million during 2025 and $14.3 million during 2024. However, the Director noted that the Group generated operating cash inflows of approximately $18.4 million during 2025 and continues to trade in line with expectations. The Director further considered the Group's historical ability to successfully refinance debt facilities, its continued covenant compliance and the availability of additional funding facilities.
The Director has also considered management's strategic plans in relation to the longer-term capital structure of the Group, including potential refinancing and other shareholder-led exit strategies that are customary within private equity-backed businesses. After considering all available information, including information extending beyond twelve months from the date of approval of the financial statements, the Director concluded that the Group has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. No material uncertainty related to going concern has been identified. Furthermore, the Group continues to have access to the revolving loan commitment disclosed in Note 19 and other available funding facilities, which provide additional liquidity and financial flexibility whilst management continues to evaluate both refinancing and wider strategic options available to the Group.
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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:
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.
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
In preparing these financial statements and applying the Group's accounting policies the directors are required to make judgments, estimates and assumptions in determining the carrying amounts of assets and liabilities.
On 21 June 2024, the Group acquired the assets of Aide Data Limited (trading as Personify XP). The acquisition was completed to accelerate the growth of the Group.
The acquisition was accounted for in accordance with Section 18 - Intangible Assets. The total consideration in the transaction was $831,000, which consisted of $223,000 as the cash consideration transferred and $608,000 as the fair value of contingent considerations transferred upon the novation of certain identified customer contracts. The novations were completely settled by 31 December 2024 and the Group made payments on contingent consideration of $608,000 during the year ended 31 December 2024. The purchase price allocation was determined in accordance with the accounting treatment of a business combination in accordance with FRS102. Under the guidance, the fair value of the consideration was determined and the assets acquired and liabilities assumed have been recorded at their fair values at the date of acquisition. The fair value of the acquired assets and liabilities was not determined to be material. The excess of the purchase price over the estimated fair values has been recorded as goodwill.
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Analysis of turnover by country of destination:
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 28
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 29
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 30
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 31
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 32
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
13.Tangible fixed assets (continued)
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 34
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Subsidiary undertakings (continued)
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 36
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 37
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 38
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 39
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Foreign exchange reserve
Other reserves
Profit and loss account
Page 40
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MEMO UK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The immediate and ultimate parent company is MEMO Global Holdings LP, a company registered in the Cayman Islands.
In the opinion of the directors the ultimate controlling party of the Company is Marlin Ultimate GP, LLC.
The Company has evaluated subsequent events occurring through September 30, 2026, the date that the consolidated financial statements were ready to be issued, for events requiring recording or disclosure in the Company’s consolidated financial statements.
There are no subsequent events to disclose.
The company has early adopted the amendments to FRS 102 issued in 2024 regarding the treatment of lease liabilities, effective for periods beginning on or after 1 January 2026.
The amendments were originally effective for periods beginning on or after 1 January 2026. However, the company has elected to adopt them early for the financial year ended 31 December 2024. The financial statements have been prepared in compliance with FRS 102 as amended. Had the company not early adopted the amendments, the lease liabilities would have been recognized in accordance with the previous treatment, and there would have been a different classification of liabilities in the balance sheet.
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