Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-12-31No description of principal activityfalse2022-11-14false2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14481141 2022-11-13 14481141 2022-11-14 2023-12-31 14481141 2021-11-14 2022-11-13 14481141 2023-12-31 14481141 c:Director1 2022-11-14 2023-12-31 14481141 c:Director2 2022-11-14 2023-12-31 14481141 d:Buildings d:ShortLeaseholdAssets 2022-11-14 2023-12-31 14481141 d:OfficeEquipment 2022-11-14 2023-12-31 14481141 d:ComputerEquipment 2022-11-14 2023-12-31 14481141 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-14 2023-12-31 14481141 d:Goodwill 2022-11-14 2023-12-31 14481141 d:CurrentFinancialInstruments 2023-12-31 14481141 d:Non-currentFinancialInstruments 2023-12-31 14481141 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14481141 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 14481141 d:ShareCapital 2023-12-31 14481141 d:RetainedEarningsAccumulatedLosses 2023-12-31 14481141 c:FRS102 2022-11-14 2023-12-31 14481141 c:AuditExempt-NoAccountantsReport 2022-11-14 2023-12-31 14481141 c:FullAccounts 2022-11-14 2023-12-31 14481141 c:PrivateLimitedCompanyLtd 2022-11-14 2023-12-31 14481141 d:Subsidiary1 2022-11-14 2023-12-31 14481141 d:Subsidiary1 1 2022-11-14 2023-12-31 14481141 c:Consolidated 2023-12-31 14481141 c:ConsolidatedGroupCompanyAccounts 2022-11-14 2023-12-31 14481141 2 2022-11-14 2023-12-31 14481141 6 2022-11-14 2023-12-31 14481141 d:Associate1 2022-11-14 2023-12-31 14481141 d:Associate1 1 2022-11-14 2023-12-31 14481141 d:SpecificBusinessCombination1 2022-11-14 2023-12-31 14481141 d:SpecificBusinessCombination1 2023-12-31 14481141 d:SpecificBusinessCombination1 2 2023-12-31 14481141 d:SpecificBusinessCombination1 3 2023-12-31 14481141 d:SpecificBusinessCombination1 d:CurrentFinancialInstruments 2023-12-31 14481141 d:SpecificBusinessCombination1 d:Non-currentFinancialInstruments 2023-12-31 14481141 f:PoundSterling 2022-11-14 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 14481141









MACBETH GROUP HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
MACBETH GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 14481141

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
1,806,817

Tangible assets
 5 
164,524

Investments
 6 
43,271

  
2,014,612

Current assets
  

Debtors: amounts falling due within one year
 7 
1,118,587

Cash at bank and in hand
 8 
884,362

  
2,002,949

Creditors: amounts falling due within one year
 9 
(2,009,432)

Net current (liabilities)/assets
  
 
 
(6,483)

Total assets less current liabilities
  
2,008,129

Creditors: amounts falling due after more than one year
 10 
(1,196,758)

Provisions for liabilities
  

Deferred taxation
  
(1,232)

  
 
 
(1,232)

Net assets
  
810,139


Capital and reserves
  

Called up share capital 
  
440

Profit and loss account
  
809,699

  
810,139


Page 1

 
MACBETH GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 14481141
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 period 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 consolidated statement of comprehensive income 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 on 5 November 2024.




P T Macbeth
B M Butler
Director
Director

The notes on pages 4 to 18 form part of these financial statements.

Page 2

 
MACBETH GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 14481141

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Investments
 6 
2,191,138

  
2,191,138

  

Creditors: amounts falling due within one year
 9 
(1,091,013)

Net current (liabilities)/assets
  
 
 
(1,091,013)

Total assets less current liabilities
  
1,100,125

  

Creditors: amounts falling due after more than one year
  
(940,698)

  

Net assets
  
159,427


Capital and reserves
  

Called up share capital 
  
440

Profit and loss account
  
158,987

  
159,427


The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 consolidated statement of comprehensive income 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 on 5 November 2024.


P T Macbeth
B M Butler
Director
Director

The notes on pages 4 to 18 form part of these financial statements.

Page 3

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Macbeth Group Holdings Limited (the 'parent company') is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is 2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated 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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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:

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 Group 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.

Page 4

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Group 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

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

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

 
2.7

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.

 
2.8

Borrowing costs

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

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.

Page 5

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the period 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 and the Group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.

Page 6

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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 the Group's share 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 Consolidated Statement of Comprehensive Income 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.

 Amortisation is provided on the following bases:

Development expenditure
-
33%
- Over 3 years
Goodwill
-
20%
- Over 5 years

 
2.12

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, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Over duration of lease
Office furniture and fixtures
-
Over 5 years
Website and computer equipment
-
Over 4 years

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.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 7

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Associates and joint ventures

An entity is treated as a joint venture where the Group is a party to a contractual agreement with one or more parties from outside the Group to undertake an economic activity that is subject to joint control.

An entity is treated as an associated undertaking where the Group exercises significant influence in that it has the power to participate in the operating and financial policy decisions.
In the consolidated accounts, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The Consolidated Statement of Comprehensive Income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. In the Consolidated Statement of Financial Position, the interests in associated undertakings are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition.
Any premium on acquisition is dealt with in accordance with the goodwill policy.

 
2.15

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.

 
2.16

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.

 
2.17

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.

 
2.18

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.

 
2.19

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS
Page 8

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.19
Financial instruments (continued)

102 to all of its financial instruments.

Financial instruments are recognised in the Group's Statement of Financial Position when the Group becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 9

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.19
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.20

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 period was 54.


4.


Intangible assets

Group




Development expenditure
Goodwill
Total

£
£
£



Cost


Additions
35,040
-
35,040


On acquisition of subsidiaries
-
2,228,105
2,228,105



At 31 December 2023

35,040
2,228,105
2,263,145



Amortisation


Charge for the period on owned assets
10,707
445,621
456,328



At 31 December 2023

10,707
445,621
456,328



Net book value



At 31 December 2023
24,333
1,782,484
1,806,817

Page 10

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
 
           4.Intangible assets (continued)




5.


Tangible fixed assets

Group






Short-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


Additions
145,573
37,276
182,849


On acquisitions of subsidiaries
-
122,322
122,322



At 31 December 2023

145,573
159,598
305,171



Depreciation


Charge for the period on owned assets
18,460
4,794
23,254


On acquisitions of subsidiaries
-
117,393
117,393



At 31 December 2023

18,460
122,187
140,647



Net book value



At 31 December 2023
127,113
37,411
164,524


6.


Fixed asset investments

Group





Investments in associates

£



Cost or valuation


On acquisition of subsidiaries
50


Share of profit/(loss)
43,221



At 31 December 2023
43,271




Page 11

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Company





Investments in subsidiary companies

£



Cost or valuation


Additions
2,191,138



At 31 December 2023
2,191,138





Direct subsidiary undertaking


The following was a direct subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

M.S. Macbeth Limited
2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA
Ordinary
100%


Indirect subsidiary undertakings


The following were indirect subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Peter Lole & Co. Limited
2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA
Ordinary
100%
Peter Lole & Co (MTU) Ltd
2nd Floor, Nucleus House, 2 Lower Mortlake Road, Richmond, TW9 2JA
Ordinary
100%


Associate


The following was an associate of the Company:


Name

Registered office

Class of shares

Holding

Macbeth Financial Services Ltd
Three Waterside Drive, Arlington Business Park, Theale, Reading, RG7 4SW
Ordinary
50%

Page 12

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Debtors

Group
2023
£


Trade debtors
577,980

Other debtors
456,297

Prepayments and accrued income
84,310

1,118,587



8.


Cash and cash equivalents

Group
2023
£

Cash at bank and in hand
884,362

884,362



9.


Creditors: Amounts falling due within one year

Group
Company
2023
2023
£
£

Bank loans (see note 11 below)
416,903
-

Trade creditors
37,662
-

Corporation tax
336,520
-

Other taxation and social security
104,914
-

Other creditors
1,062,020
1,050,000

Accruals and deferred income
51,413
41,013

2,009,432
1,091,013


Page 13

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due after more than one year

Group
Company
2023
2023
£
£

Bank loans (see note 11 below)
256,060
-

Other creditors
940,698
940,698

1,196,758
940,698



11.


Loans


Analysis of the maturity of loans is given below:


Group
2023
£

Amounts falling due within one year

Bank loans
416,903

Amounts falling due 1-2 years

Bank loans
200,942

Amounts falling due 2-5 years

Bank loans
55,118


672,963


Included above is a bank loan sourced by one of the Company’s subsidiaries, M.S. Macbeth Limited. This loan was provided by Clydesdale Bank Plc for an original amount of £667,060, commencing 23 October 2019, at a fixed rate of 5.04% for a term of 5 years. This loan is secured by a debenture over all the assets of the subsidiary company, dated 23 October 2019, and registered at Companies House on 25 October 2019.
Also included above is a further loan sourced by one of the Company’s subsidiaries, M.S. Macbeth Limited. This loan was provided by Clydesdale Bank Plc for an original amount of £875,000, commencing 31 March 2021, at a fixed rate of 5.04% for a term of 5 years. This loan is secured by a debenture over all assets of the subsidiary company and a charge over a cash deposit of £200,000, both dated 31 March 2021, and registered at Companies House on 6 April 2021.

Page 14

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

12.


Deferred taxation


Group



2023


£






Arising on business combinations
(1,232)



At end of year
(1,232)

Company


2023






At end of year
-
The deferred taxation balance is made up as follows:

Group
2023
£

Accelerated capital allowances
(1,232)

(1,232)

Page 15

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

13.
 

Business combinations

Acquisition of M.S. Macbeth Limited, Peter Lole & Co. Limited and Peter Lole & Co (MTU) Limited

Recognised amounts of identifiable assets acquired and liabilities assumed

Book value
Fair value
£
£

Fixed Assets

Tangible
4,929
4,929

Investments
3,421,639
3,421,639

3,426,568
3,426,568

Current Assets

Debtors
2,397,178
2,397,178

Cash at bank and in hand
964,008
964,008

Total Assets
6,787,754
6,787,754

Creditors

Due within one year
(2,728,935)
(2,728,935)

Due after more than one year
(672,963)
(672,963)

Deferred taxation
(1,232)
(1,232)

Total Identifiable net assets
3,384,624
3,384,624


Goodwill
2,228,105

Total purchase consideration
5,612,729

Consideration

£


Cash
200,000

Investments taken over from indirect subsidiaries
3,421,591

Share capital purchased
440

Deferred consideration
1,990,698

Total purchase consideration
5,612,729

Page 16

 
MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

13.Business combinations (continued)

Cash outflow on acquisition

£


Purchase consideration settled in cash, as above
200,000

200,000

Less: Cash and cash equivalents acquired
(964,008)

Net cash inflow on acquisition
(764,008)

The goodwill arising on acquisition is attributable to individually unquantifiable assets such as intellectual property, brand recognition, customer loyalty and strong customer service levels.

The results of M.S. Macbeth Limited, Peter Lole & Co. Limited and Peter Lole & Co (MTU) Limited since acquisition are as follows:

Current period since acquisition
£

Turnover
6,374,158

Profit for the period since acquisition
1,279,974


14.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £210,956. Contributions totalling £47,124 were payable to the fund at the reporting date and are included in creditors.


15.


Commitments under operating leases

At 31 December 2023 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
2023
£

Not later than 1 year
174,465

Later than 1 year and not later than 5 years
211,088

385,553
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MACBETH GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

16.


Related party transactions

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.
Macbeth Premium Finance Limited
Macbeth Premium Finance Limited is an associated company with common directors and shareholders. There is a loan from the Group to Macbeth Premium Finance Limited that is unsecured, interest free and with no fixed repayment date. The loan outstanding from Macbeth Premium Finance Limited at the year end amount to £410,147.
Macbeth Financial Services Limited
Macbeth Financial Services Limited is a 50% associated company with a common director. The Group recharges marketing costs to Macbeth Financial Services Limited. The amount paid in the year for marketing costs amounted to £26,904. There are no amounts outstanding at the year end.
 


17.


Directors' advances, creditors and guarantees

    Group 2023
£
P T Macbeth
 
Balance outstanding at start of year on business combination

46,150

Amount advanced

-

Amounts repaid

-

Balance outstanding at end of year

46,150



18.


Controlling party

The immediate and ultimate controlling party is P T Macbeth, a director and owner of a majority of the issued share capital in Macbeth Group Holdings Limited.

 
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