IRIS Accounts Production v23.2.0.158 01171712 Board of Directors Board of Directors Board of Directors 1.2.22 31.1.23 31.1.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure011717122022-01-31011717122023-01-31011717122022-02-012023-01-31011717122021-01-31011717122021-02-012022-01-31011717122022-01-3101171712ns16:EnglandWales2022-02-012023-01-3101171712ns15:PoundSterling2022-02-012023-01-3101171712ns11:Director12022-02-012023-01-3101171712ns11:Director22022-02-012023-01-3101171712ns11:Director32022-02-012023-01-3101171712ns11:PrivateLimitedCompanyLtd2022-02-012023-01-3101171712ns11:SmallEntities2022-02-012023-01-3101171712ns11:AuditExempt-NoAccountantsReport2022-02-012023-01-3101171712ns11:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3101171712ns11:SmallCompaniesRegimeForAccounts2022-02-012023-01-3101171712ns11:FullAccounts2022-02-012023-01-310117171212022-02-012023-01-3101171712ns11:CompanySecretary12022-02-012023-01-3101171712ns11:RegisteredOffice2022-02-012023-01-3101171712ns6:CurrentFinancialInstruments2023-01-3101171712ns6:CurrentFinancialInstruments2022-01-3101171712ns6:ShareCapital2023-01-3101171712ns6:ShareCapital2022-01-3101171712ns6:RetainedEarningsAccumulatedLosses2023-01-3101171712ns6:RetainedEarningsAccumulatedLosses2022-01-3101171712ns6:NetGoodwill2022-02-012023-01-3101171712ns6:NetGoodwill2022-01-3101171712ns6:NetGoodwill2023-01-3101171712ns6:NetGoodwill2022-01-3101171712ns6:LeaseholdImprovements2022-01-3101171712ns6:PlantMachinery2022-01-3101171712ns6:FurnitureFittings2022-01-3101171712ns6:ComputerEquipment2022-01-3101171712ns6:LeaseholdImprovements2022-02-012023-01-3101171712ns6:PlantMachinery2022-02-012023-01-3101171712ns6:FurnitureFittings2022-02-012023-01-3101171712ns6:ComputerEquipment2022-02-012023-01-3101171712ns6:LeaseholdImprovements2023-01-3101171712ns6:PlantMachinery2023-01-3101171712ns6:FurnitureFittings2023-01-3101171712ns6:ComputerEquipment2023-01-3101171712ns6:LeaseholdImprovements2022-01-3101171712ns6:PlantMachinery2022-01-3101171712ns6:FurnitureFittings2022-01-3101171712ns6:ComputerEquipment2022-01-3101171712ns6:CostValuation2022-01-3101171712ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3101171712ns6:WithinOneYearns6:CurrentFinancialInstruments2022-01-31
REGISTERED NUMBER: 01171712 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

MCCLARRONS LIMITED

MCCLARRONS LIMITED (REGISTERED NUMBER: 01171712)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MCCLARRONS LIMITED

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTORS: Mr S C McClarron
Mrs S L McClarron
Mr G Davies





SECRETARY: Mrs S L McClarron





REGISTERED OFFICE: The Vines
29 Market Place
Malton
North Yorkshire
YO17 7LP





REGISTERED NUMBER: 01171712 (England and Wales)

MCCLARRONS LIMITED (REGISTERED NUMBER: 01171712)

STATEMENT OF FINANCIAL POSITION
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,328 62,010
Property, plant and equipment 5 235,241 231,262
Investments 6 2 2
244,571 293,274

CURRENT ASSETS
Debtors 7 640,060 687,141
Cash at bank and in hand 566,466 392,412
1,206,526 1,079,553
CREDITORS
Amounts falling due within one year 8 908,734 918,652
NET CURRENT ASSETS 297,792 160,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

542,363

454,175

PROVISIONS FOR LIABILITIES 31,346 32,589
NET ASSETS 511,017 421,586

CAPITAL AND RESERVES
Called up share capital 27,370 27,370
Retained earnings 483,647 394,216
SHAREHOLDERS' FUNDS 511,017 421,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

MCCLARRONS LIMITED (REGISTERED NUMBER: 01171712)

STATEMENT OF FINANCIAL POSITION - continued
31 January 2023


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 13 October 2023 and were signed on its behalf by:




Mr S C McClarron - Director Mr G Davies - Director




Mrs S L McClarron - Director


MCCLARRONS LIMITED (REGISTERED NUMBER: 01171712)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023


1. STATUTORY INFORMATION

McClarrons 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Preparation of consolidated financial statements
The financial statements contain information about McClarrons Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
No significant judgements have had to be made by management in preparing these financial statements.

Critical accounting estimates and assumptions
The directors do not consider that any estimates or assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue
Revenue represents commissions and fees receivable and services supplied. Services are recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration. Commissions and fees are recognised as due when the underlying insurance premium has been paid.

Goodwill
Goodwill connected with the purchase of a trade is initially measured at cost. Goodwill connected with the purchase of a subsidiary business, where this is followed by a 'hive up' of the trade, is initially measured as the excess of the cost of the investment in the subsidiary over the fair value of the net assets acquired. After initial recognition all goodwill is measured at either cost or excess over fair value less any accumulated amortisation and any accumulated impairment losses.

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

Business acquisitions- 20% on straight line basis

MCCLARRONS LIMITED (REGISTERED NUMBER: 01171712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023


2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses.

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

Improvements to property- 4% on straight line basis
Plant and machinery- 25% on reducing balance basis
Fixtures and fittings- 25% on reducing balance basis
Computer equipment- 25% on straight line basis

Investments in subsidiaries
Investments in subsidiary undertakings are initially measured at cost. If the acquisition is followed by a 'hive up' of the trade then part of the cost is allocated to goodwill (being the excess of the cost in the subsidiary undertaking over the fair value of the net assets acquired). After initial recognition investments in subsidiary undertakings are reduced by any accumulated impairment losses.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leases
Operating lease rentals are charged against profits of the period to which they relate.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 76 (2022 - 74 ) .

MCCLARRONS LIMITED (REGISTERED NUMBER: 01171712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 512,260
AMORTISATION
At 1 February 2022 450,250
Charge for year 52,682
At 31 January 2023 502,932
NET BOOK VALUE
At 31 January 2023 9,328
At 31 January 2022 62,010

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 223,205 42,751 170,200 418,606 854,762
Additions 22,945 - 1,818 26,504 51,267
At 31 January 2023 246,150 42,751 172,018 445,110 906,029
DEPRECIATION
At 1 February 2022 78,467 42,650 153,156 349,227 623,500
Charge for year 10,439 25 4,532 32,292 47,288
At 31 January 2023 88,906 42,675 157,688 381,519 670,788
NET BOOK VALUE
At 31 January 2023 157,244 76 14,330 63,591 235,241
At 31 January 2022 144,738 101 17,044 69,379 231,262

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2022
and 31 January 2023 2
NET BOOK VALUE
At 31 January 2023 2
At 31 January 2022 2

MCCLARRONS LIMITED (REGISTERED NUMBER: 01171712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 381,323 317,584
Amounts owed by group undertakings 156,839 148,494
Other debtors 101,898 221,063
640,060 687,141

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 71,151 44,165
Amounts owed to group undertakings 392,754 440,595
Taxation and social security 172,729 80,119
Other creditors 272,100 353,773
908,734 918,652

9. CONTINGENT LIABILITIES

The company has given unlimited guarantees to its bankers by way of fixed and floating charge over its assets and undertaking in favour of a group company. The bank borrowings of the group company at 31 January 2023 were £404,886 (2022 - £433,704).

10. OTHER FINANCIAL COMMITMENTS

The company had total operating lease commitments at the balance sheet date in the sum of £334,084 (2022 - £404,864).

In addition the company has other commitments in respect of an agreement expiring in 2023 with the amounts payable being contingent upon the level of business. The charge this year is £107,664 (2022 - £96,261).

11. RELATED PARTY DISCLOSURES

Two of the company's directors have made an interest free loan to the company which is repayable on demand. At the year end the total amount owed to them was £117,736 (2022 £115,487).