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Company No: 05398827 (England and Wales)

JIM MACFADYEN CONSULTING LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

JIM MACFADYEN CONSULTING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

JIM MACFADYEN CONSULTING LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
JIM MACFADYEN CONSULTING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Alison Macfadyen
James Gilzean Macfadyen
SECRETARY Alison Macfadyen
REGISTERED OFFICE Wellington House Aviator Court
Clifton Moor
York
YO30 4UZ
United Kingdom
COMPANY NUMBER 05398827 (England and Wales)
ACCOUNTANT Jones & Co of York Limited
Wellington House
Aviator Court
York
YO30 4UZ
United Kingdom
JIM MACFADYEN CONSULTING LIMITED

BALANCE SHEET

As at 31 March 2024
JIM MACFADYEN CONSULTING LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,090,916 1,093,923
1,090,916 1,093,923
Current assets
Debtors 4 1,507,089 1,622,486
Cash at bank and in hand 5 483,634 407,618
1,990,723 2,030,104
Creditors: amounts falling due within one year 6 ( 771,633) ( 1,043,564)
Net current assets 1,219,090 986,540
Total assets less current liabilities 2,310,006 2,080,463
Net assets 2,310,006 2,080,463
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 2,309,906 2,080,363
Total shareholder's funds 2,310,006 2,080,463

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Jim Macfadyen Consulting Limited (registered number: 05398827) were approved and authorised for issue by the Board of Directors on 26 July 2024. They were signed on its behalf by:

James Gilzean Macfadyen
Director
JIM MACFADYEN CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
JIM MACFADYEN CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jim Macfadyen Consulting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wellington House Aviator Court, Clifton Moor, York, YO30 4UZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2023 1,082,739 35,404 15,524 10,369 1,144,036
At 31 March 2024 1,082,739 35,404 15,524 10,369 1,144,036
Accumulated depreciation
At 01 April 2023 0 28,459 13,926 7,728 50,113
Charge for the financial year 0 1,736 399 872 3,007
At 31 March 2024 0 30,195 14,325 8,600 53,120
Net book value
At 31 March 2024 1,082,739 5,209 1,199 1,769 1,090,916
At 31 March 2023 1,082,739 6,945 1,598 2,641 1,093,923

4. Debtors

2024 2023
£ £
Trade debtors 62,157 152,747
Amounts owed by Group undertakings 1,426,065 1,426,065
Other debtors 18,867 43,674
1,507,089 1,622,486

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 483,634 407,618

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 58,530 168,748
Taxation and social security 76,948 54,897
Other creditors 636,155 819,919
771,633 1,043,564

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Ultimate controlling party

Parent Company:

Macfadyen Holdings Ltd
Wellington House Aviator Court, Clifton Moor, York, United Kingdom, YO30 4UZ