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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MCMM SERVICES LIMITED

MCMM SERVICES LIMITED (REGISTERED NUMBER: 11347743)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

MCMM SERVICES LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr J O Whittingham
Mr M Rea





REGISTERED OFFICE: The Walbrook Building
25 Walbrook
London
EC4N8AW





REGISTERED NUMBER: 11347743 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

MCMM SERVICES LIMITED (REGISTERED NUMBER: 11347743)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,603 45,136
Tangible assets 5 103,001 212,152
115,604 257,288

CURRENT ASSETS
Debtors 6 506,436 414,843
Cash at bank 1,735,444 1,960,921
2,241,880 2,375,764
CREDITORS
Amounts falling due within one year 7 2,420,995 2,390,332
NET CURRENT LIABILITIES (179,115 ) (14,568 )
TOTAL ASSETS LESS CURRENT LIABILITIES (63,511 ) 242,720

CREDITORS
Amounts falling due after more than one year 8 - (46,792 )

PROVISIONS FOR LIABILITIES 10 (13,676 ) (30,866 )
NET (LIABILITIES)/ASSETS (77,187 ) 165,062

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Capital redemption reserve 1 1
Retained earnings (78,188 ) 164,061
(77,187 ) 165,062

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

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

MCMM SERVICES LIMITED (REGISTERED NUMBER: 11347743)

BALANCE SHEET - continued
31 December 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2024 and were signed on its behalf by:





Mr J O Whittingham - Director


MCMM SERVICES LIMITED (REGISTERED NUMBER: 11347743)

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

1. STATUTORY INFORMATION

MCMM Services 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" 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 directors consider that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, they continue to apply the going concern basis of accounting in preparing the Annual Report and Financial Statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax and other sales taxes. Turnover includes commissions received from The Education Mutual Ltd for the provision of management services.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Online Platform Development is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - Straight line over 5 years
Plant and machinery etc - 25% on cost, Straight line over 3 years and Straight line over 10 years

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 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 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.

MCMM SERVICES LIMITED (REGISTERED NUMBER: 11347743)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Deferred income
The accounts include deferred income for management services provided to The Education Mutual Ltd. Income is deferred based on the membership fees charged in The Education Mutual Ltd and is released to the profit and loss account on a time apportioned basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 260,472
AMORTISATION
At 1 January 2023 215,336
Charge for year 32,533
At 31 December 2023 247,869
NET BOOK VALUE
At 31 December 2023 12,603
At 31 December 2022 45,136

MCMM SERVICES LIMITED (REGISTERED NUMBER: 11347743)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 96,901 193,892 290,793
Additions - 4,070 4,070
Disposals - (86,975 ) (86,975 )
Reclassification/transfer - 13,650 13,650
At 31 December 2023 96,901 124,637 221,538
DEPRECIATION
At 1 January 2023 13,402 65,239 78,641
Charge for year 19,381 42,813 62,194
Eliminated on disposal - (35,948 ) (35,948 )
Reclassification/transfer - 13,650 13,650
At 31 December 2023 32,783 85,754 118,537
NET BOOK VALUE
At 31 December 2023 64,118 38,883 103,001
At 31 December 2022 83,499 128,653 212,152

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 86,975
Disposals (86,975 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 20,330
Charge for year 15,618
Eliminated on disposal (35,948 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 66,645

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 506,436 414,843

MCMM SERVICES LIMITED (REGISTERED NUMBER: 11347743)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts - 17,179
Trade creditors 111,447 76,549
Taxation and social security 406,743 394,025
Other creditors 1,902,805 1,902,579
2,420,995 2,390,332

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts - 46,792

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts - 63,971

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 13,676 30,866

Deferred
tax
£   
Balance at 1 January 2023 30,866
Credit to Income Statement during year (17,190 )
Balance at 31 December 2023 13,676

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr L Marshall
Balance outstanding at start of year - 2,400
Amounts repaid - (2,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

MCMM SERVICES LIMITED (REGISTERED NUMBER: 11347743)

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

13. POST BALANCE SHEET EVENTS

On January 10th 2024, 100% of the share capital in MCMM Services Limited was acquired by Gallagher Holdings (UK) Limited.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Arthur J. Gallagher & Co.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MCMM SERVICES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MCMM Services Limited for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of MCMM Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MCMM Services Limited and state those matters that we have agreed to state to the Board of Directors of MCMM Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MCMM Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MCMM Services Limited. You consider that MCMM Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MCMM Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


Date: .............................................