Company registration number 10769540 (England and Wales)
MCANULTY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
PAGES FOR FILING WITH REGISTRAR
MCANULTY HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MCANULTY HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2021
31 August 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
4
100
100
Current assets
Debtors
5
979,699
823,050
Cash at bank and in hand
300,694
100,034
1,280,393
923,084
Creditors: amounts falling due within one year
6
(973,866)
(668,650)
Net current assets
306,527
254,434
Total assets less current liabilities
306,627
254,534
Creditors: amounts falling due after more than one year
7
(37,500)
(47,500)
Net assets
269,127
207,034
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
269,027
206,934
Total equity
269,127
207,034

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MCANULTY HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2021
31 August 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 14 September 2022
M McAnulty
Director
Company Registration No. 10769540
MCANULTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
- 3 -
1
Accounting policies
Company information

McAnulty Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Pennine Parade, Pennine Drive, London, NW2 1NT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MCANULTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
1
1
4
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
100
100
Fixed asset investments not carried at market value

The director has opted to account for the company's investment in subsidiaries at cost less impairment as set out in the above accounting policies and in accordance with the FRS 102. The reason for choosing this method is that the subsidiary has always been privately owned and its shares have never been publicly traded.

5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
979,699
823,050
MCANULTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 5 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
10,000
2,500
Trade creditors
3,277
1,237
Amounts owed to group undertakings
958,790
658,663
Other creditors
1,799
6,250
973,866
668,650

The amounts owed to group undertakings are unsecured, interest-free, with no fixed repayment term and are repayable on demand.

7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
37,500
47,500

In 2020 the company received a Government-backed Bounce Back loan from the company's bankers. Monthly instalments are payable over 5 years starting from June 2021.

8
Related party transactions

The following amounts were outstanding at the reporting end date:

2021
2020
Amounts due to related parties
£
£
Entities over which the entity has control, joint control or significant influence
958,790
658,663

The amounts outstanding are unsecured, repayable on demand and will be settled in cash.

9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directo's loan
2.50
(4,931)
194,081
(86,962)
102,188
(4,931)
194,081
(86,962)
102,188
MCANULTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
9
Directors' transactions
(Continued)
- 6 -

The loan is unsecured and repayable on demand. The maximum amount outstanding during the year was £141,735. Interest of £2,099 was charged at the rate of 2.5% to the director during the year.

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