Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false422023-04-01Architectural Services51truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06844071 2023-04-01 2024-03-31 06844071 2022-04-01 2023-03-31 06844071 2024-03-31 06844071 2023-03-31 06844071 c:Director1 2023-04-01 2024-03-31 06844071 c:Director1 2024-03-31 06844071 c:Director2 2023-04-01 2024-03-31 06844071 c:Director3 2023-04-01 2024-03-31 06844071 c:Director3 2024-03-31 06844071 c:Director4 2023-04-01 2024-03-31 06844071 c:Director5 2023-04-01 2024-03-31 06844071 c:Director5 2024-03-31 06844071 c:RegisteredOffice 2023-04-01 2024-03-31 06844071 d:PlantMachinery 2023-04-01 2024-03-31 06844071 d:PlantMachinery 2024-03-31 06844071 d:PlantMachinery 2023-03-31 06844071 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06844071 d:MotorVehicles 2023-04-01 2024-03-31 06844071 d:MotorVehicles 2024-03-31 06844071 d:MotorVehicles 2023-03-31 06844071 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06844071 d:FurnitureFittings 2023-04-01 2024-03-31 06844071 d:FurnitureFittings 2024-03-31 06844071 d:FurnitureFittings 2023-03-31 06844071 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06844071 d:ComputerEquipment 2023-04-01 2024-03-31 06844071 d:ComputerEquipment 2024-03-31 06844071 d:ComputerEquipment 2023-03-31 06844071 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06844071 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06844071 d:Goodwill 2023-04-01 2024-03-31 06844071 d:Goodwill 2024-03-31 06844071 d:Goodwill 2023-03-31 06844071 d:CurrentFinancialInstruments 2024-03-31 06844071 d:CurrentFinancialInstruments 2023-03-31 06844071 d:Non-currentFinancialInstruments 2024-03-31 06844071 d:Non-currentFinancialInstruments 2023-03-31 06844071 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06844071 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06844071 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06844071 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06844071 d:ShareCapital 2024-03-31 06844071 d:ShareCapital 2023-03-31 06844071 d:RetainedEarningsAccumulatedLosses 2024-03-31 06844071 d:RetainedEarningsAccumulatedLosses 2023-03-31 06844071 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06844071 c:FRS102 2023-04-01 2024-03-31 06844071 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06844071 c:FullAccounts 2023-04-01 2024-03-31 06844071 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06844071 d:WithinOneYear 2024-03-31 06844071 d:BetweenOneFiveYears 2024-03-31 06844071 d:MoreThanFiveYears 2024-03-31 06844071 2 2023-04-01 2024-03-31 06844071 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 06844071 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 06844071







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


MCANDREW MARTIN LTD






































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MCANDREW MARTIN LTD
 


 
COMPANY INFORMATION


Directors
W I McAndrew (appointed 11 March 2009, resigned 28 March 2024)
Dr T J Gould 
D G Huse (appointed 28 March 2024)
J M Marshall 
T A Redfern (appointed 12 February 2024, resigned 30 August 2024)




Registered number
06844071



Registered office
Trafalgar House 11 Acorn Business Centre
Northarbour Road

Cosham

Hampshire

PO6 3TH




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


MCANDREW MARTIN LTD
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 10


 


MCANDREW MARTIN LTD
REGISTERED NUMBER:06844071



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
21,125

Tangible assets
 5 
114,689
114,565

  
114,689
135,690

Current assets
  

Stocks
  
765,297
76,959

Debtors: amounts falling due within one year
 6 
2,452,166
1,394,587

Cash at bank and in hand
  
1,206,518
859,875

  
4,423,981
2,331,421

Creditors: amounts falling due within one year
 7 
(2,114,582)
(937,577)

Net current assets
  
 
 
2,309,399
 
 
1,393,844

Total assets less current liabilities
  
2,424,088
1,529,534

Creditors: amounts falling due after more than one year
  
-
(261,309)

Provisions for liabilities
  

Deferred tax
  
(20,775)
(20,775)

  
 
 
(20,775)
 
 
(20,775)

Net assets
  
2,403,313
1,247,450

Page 1

 


MCANDREW MARTIN LTD
REGISTERED NUMBER:06844071


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,403,213
1,247,350

  
2,403,313
1,247,450


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J M Marshall
Director

Date: 26 September 2024

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 


MCANDREW MARTIN LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

McAndrew Martin 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 


MCANDREW MARTIN LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 


MCANDREW MARTIN LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Page 5

 


MCANDREW MARTIN LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Computer equipment
-
33% straight line

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.

  
2.12

Work in progress

Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress include labour and attributable overheads.
At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 


MCANDREW MARTIN LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Dividends

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 at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 51 (2023 - 42).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
95,000



At 31 March 2024

95,000



Amortisation


At 1 April 2023
73,875


Charge for the year on owned assets
21,125



At 31 March 2024

95,000



Net book value



At 31 March 2024
-



At 31 March 2023
21,125



Page 7

 


MCANDREW MARTIN LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Motor vehicles
Plant and machinery
Computer equipment
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
58,231
30,931
191,888
292,844
573,894


Additions
64,500
3,041
33,215
575
101,331


Disposals
(52,985)
(3,960)
(116,735)
(70,530)
(244,210)



At 31 March 2024

69,746
30,012
108,368
222,889
431,015



Depreciation


At 1 April 2023
48,021
12,900
166,642
231,766
459,329


Charge for the year on owned assets
16,104
9,350
25,825
38,621
89,900


Disposals
(43,503)
(2,243)
(116,627)
(70,530)
(232,903)



At 31 March 2024

20,622
20,007
75,840
199,857
316,326



Net book value



At 31 March 2024
49,124
10,005
32,528
23,032
114,689



At 31 March 2023
10,210
18,031
25,246
61,078
114,565


6.


Debtors

2024
2023
£
£


Trade debtors
2,128,715
1,288,750

Other debtors
255,554
46,417

Prepayments and accrued income
67,897
59,420

2,452,166
1,394,587


Page 8

 


MCANDREW MARTIN LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
8,965
-

Bank loans
-
111,489

Other loans
39,062
-

Trade creditors
675,196
250,561

Amounts owed to group undertakings
257,652
-

Corporation tax
-
107,624

Other taxation and social security
583,615
389,477

Other creditors
550,092
78,426

2,114,582
937,577



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
261,309

-
261,309



9.


Deferred taxation



2024


£






At beginning of year
(20,775)



At end of year
(20,775)

The provision for deferred taxation is made up as follows:

2024
£


Accelerated capital allowances
(20,775)

(20,775)

Page 9

 


MCANDREW MARTIN LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Not later than 1 year
73,924

Later than 1 year and not later than 5 years
210,886

Later than 5 years
400,000

684,810

 
Page 10