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REGISTERED NUMBER: 09062555 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31st May 2024

for

McCaffery Financial Limited

McCaffery Financial Limited (Registered number: 09062555)






Contents of the Financial Statements
For The Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


McCaffery Financial Limited

Company Information
For The Year Ended 31st May 2024







DIRECTORS: G McCaffery
Mrs P McCaffery





REGISTERED OFFICE: 7 Cliffe Court
Sunderland
Tyne and Wear
SR6 9NT





REGISTERED NUMBER: 09062555 (England and Wales)





ACCOUNTANTS: F E Metcalfe & Co Limited
Chartered Accountants
4 Old Market Place
Ripon
North Yorkshire
HG4 1EQ

McCaffery Financial Limited (Registered number: 09062555)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 574 -

CURRENT ASSETS
Debtors 5 428,220 387,048
Investments 6 2,791,664 2,694,685
Cash at bank 1,031,074 909,395
4,250,958 3,991,128
CREDITORS
Amounts falling due within one year 7 1,912,530 1,877,558
NET CURRENT ASSETS 2,338,428 2,113,570
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,339,002

2,113,570

CAPITAL AND RESERVES
Called up share capital 8 950,007 950,007
Retained earnings 1,388,995 1,163,563
SHAREHOLDERS' FUNDS 2,339,002 2,113,570

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

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

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th February 2025 and were signed on its behalf by:





G McCaffery - Director


McCaffery Financial Limited (Registered number: 09062555)

Notes to the Financial Statements
For The Year Ended 31st May 2024

1. STATUTORY INFORMATION

McCaffery Financial 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 are presented in sterling which is the presentation currency of the company and are rounded to the nearest £.

Turnover
Turnover represents participation fees due to the company. No value added tax is due on the participation fees. Where participation fees are due to the company but there are specific risks that could result in the participation fees due not being received by the company then the full value of the participation fees contractually due are recognised in turnover and a specific provision is recognised in the profit and loss account as a cost item.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write-off each asset over its estimated useful life:

Computer equipment - 25% straight-line.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

On 24th December 2014 the company made an election to change its functional currency for tax purposes to US Dollars. Therefore, the company has excluded any US Dollar gains and losses from the profits chargeable to corporation tax from 24th December 2014

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Listed investments
Listed Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

McCaffery Financial Limited (Registered number: 09062555)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2024

2. ACCOUNTING POLICIES - continued

Debtors and creditors/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans, participations and borrowings
Loans, participations and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
Additions 599
At 31st May 2024 599
DEPRECIATION
Charge for year 25
At 31st May 2024 25
NET BOOK VALUE
At 31st May 2024 574

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Trade debtors 336,711 296,410
Other debtors 91,509 90,638
428,220 387,048

6. CURRENT ASSET INVESTMENTS
31.5.24 31.5.23
£ £
Listed investments 2,188,701 1,928,712
Note receivable Crown Financial 602,963 765,973
2,791,664 2,694,685

McCaffery Financial Limited (Registered number: 09062555)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Other loans 1,862,407 1,847,389
Loan from S.McCaffery 13,648 -
Other creditors 2,656 5,743
Corporation Tax 3,539 -
Directors' current accounts 545 -
Accrued expenses 29,735 24,426
1,912,530 1,877,558

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £ £
1,000 Ordinary £1 1,000 1,000
949,007 Redeemable Ordinary shares £1 949,007 949,007
950,007 950,007

The Redeemable Ordinary Shares have no rights to voting and dividend, the shares have full and equal rights to capital distribution,and may be redeemed at par at the option of the company.