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REGISTERED NUMBER: 03493184 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 March 2024

for

McDade Roberts Accountants Limited

McDade Roberts Accountants Limited (Registered number: 03493184)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


McDade Roberts Accountants Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr K R Carey BA (Hons) FCA
Mr M Garry BA (Hons), FCA
Mrs C H Richards FCA





REGISTERED OFFICE: 316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE





REGISTERED NUMBER: 03493184 (England and Wales)






McDade Roberts Accountants Limited (Registered number: 03493184)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 90,213 110,699
Tangible assets 5 11,235 14,987
101,448 125,686

CURRENT ASSETS
Debtors 6 726,020 766,326
Cash in hand 968 810
726,988 767,136
CREDITORS
Amounts falling due within one year 7 430,234 457,853
NET CURRENT ASSETS 296,754 309,283
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,202

434,969

CREDITORS
Amounts falling due after more than one
year

8

(159,951

)

(196,558

)

PROVISIONS FOR LIABILITIES (2,335 ) (2,220 )
NET ASSETS 235,916 236,191

CAPITAL AND RESERVES
Called up share capital 17,600 17,600
Share premium 151,555 151,555
Retained earnings 66,761 67,036
SHAREHOLDERS' FUNDS 235,916 236,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

McDade Roberts Accountants Limited (Registered number: 03493184)

Statement of Financial Position - continued
31 March 2024


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 17 November 2024 and were signed on its behalf by:




Mr M Garry BA (Hons), FCA - Director Mr K R Carey BA (Hons) FCA - Director




Mrs C H Richards FCA - Director


McDade Roberts Accountants Limited (Registered number: 03493184)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

McDade Roberts Accountants 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.

The financial statements have been prepared in pounds sterling which is the functional currency of the company.

Significant judgements and estimates
In the preparation of the financial statements the directors have made judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the year end date and the amounts reported for income and expenses during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.
Significant judgements include the amortisation period for goodwill and valuing amounts recoverable on contracts for unbilled work in progress.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised as contract activities progress when the amount of revenue can be reliably measured and that it is probable that future economic benefits will flow to the company.

Goodwill
Goodwill, being the amounts paid to acquire client banks, are initially recognised at cost. They are then amortised over the the expected useful life and amoritsation is calculated between 5 to 20 years depending on the nature of the acquisition.

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.

Tangible fixed assets depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Depreciation is provided on a monthly basis based on when the assets are brought into use.

Tangible fixed assets recognition
Tangible fixed assets are initially recognised at cost. After initial recognition, tangible assets are included at cost less any accumulated depreciation.


McDade Roberts Accountants Limited (Registered number: 03493184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,360,546
AMORTISATION
At 1 April 2023 1,249,847
Charge for year 20,486
At 31 March 2024 1,270,333
NET BOOK VALUE
At 31 March 2024 90,213
At 31 March 2023 110,699

McDade Roberts Accountants Limited (Registered number: 03493184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 268,020
Additions 1,830
At 31 March 2024 269,850
DEPRECIATION
At 1 April 2023 253,033
Charge for year 5,582
At 31 March 2024 258,615
NET BOOK VALUE
At 31 March 2024 11,235
At 31 March 2023 14,987

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 221,054 236,975
Amounts owed by group undertakings 232,550 223,955
Amounts owed by associates 13,222 12,722
Other debtors 259,194 292,674
726,020 766,326

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 87,672 118,589
Trade creditors 19,308 67,268
Taxation and social security 167,412 174,206
Other creditors 155,842 97,790
430,234 457,853

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 159,951 196,558

McDade Roberts Accountants Limited (Registered number: 03493184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 16,117 42,777

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 9,217 12,572
Between one and five years 32,259 -
41,476 12,572

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 44,815 75,732
Bank loans 202,808 239,415
247,623 315,147

The bank loan and overdraft facilities provided by National Westminster Bank PLC are secured by way of a fixed and floating charge over the undertaking of the company, dated 25 November 2013. The directors have also provided personal guarantees.

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from National Westminster Bank PLC.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr K R Carey BA (Hons) FCA
Balance outstanding at start of year - 1,646
Amounts repaid - (1,646 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

McDade Roberts Accountants Limited (Registered number: 03493184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

There have been no loans made to the directors in the 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.

Companies with common control

Throughout the year the company had made an interest free loan to a company under common control. The balance owing is shown within debtors and at the year end was £13,222 (2023: £12,722).