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Registered number: 10831577









MCCHRYSTAL GROUP LTD









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
MCCHRYSTAL GROUP LTD
 
 
COMPANY INFORMATION


Directors
C L Fussell 
C W Maffey (appointed 14 November 2024)
S McChrystal (appointed 14 November 2024)




Company secretary
Redfern Legal LLP



Registered number
10831577



Registered office
7 Henrietta Street
C/O Redfern Legal LLP

London

WC2E 8PS




Independent auditors
Ecovis Wingrave Yeats LLP
Chartered Accountants and Statutory Auditor

Waverley House

7-12 Noel Street

London

W1F 8GQ





 
MCCHRYSTAL GROUP LTD
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6


 
MCCHRYSTAL GROUP LTD
REGISTERED NUMBER: 10831577

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
3,071
3,525

Cash at bank and in hand
  
15,769
43,424

  
18,840
46,949

Creditors: amounts falling due within one year
 6 
(2,923,236)
(2,846,316)

Net current liabilities
  
 
 
(2,904,396)
 
 
(2,799,367)

Total assets less current liabilities
  
(2,904,396)
(2,799,367)

  

Net liabilities
  
(2,904,396)
(2,799,367)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(2,904,496)
(2,799,467)

  
(2,904,396)
(2,799,367)


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 profit and loss account 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 7 March 2025.



................................................
C W Maffey
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
MCCHRYSTAL GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

McChrystal Group Ltd is a private company, limited by shares, incorporated in England & Wales, registration number 10831577. The registered office address is 7 Henrietta Street, C/O Redfern Legal LLP, London, WC2E 8PS. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the Company will continue in operational existence for the foreseeable future. The Company meets its day to day working capital requirements through the continuing support of its parent company, McChrystal Group LLC, who has provided a letter of support indicating continuing support for the Company. 

 
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 Company’s revenue represents amounts charged to customers for consultancy services per agreed contracts. Furthermore, the Company’s revenue streams also include revenue earned from giving speeches and reimbursing expenses incurred on behalf of customers during the provision of consultancy services.
Page 2

 
MCCHRYSTAL GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

  
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 
2.5

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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
MCCHRYSTAL GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Deferred tax asset
Management is required to assess whether it is appropriate to recognise a deferred tax asset relating to taxable losses available to the Company. The recognition of deferred tax assets is based upon whether it is more likely than not that sufficient and suitable taxable profits will be available in the future against which the reversal of losses and other deductions can be deducted.
To determine the future taxable profits, reference is made to the latest available forecasts. Therefore, this involves judgement regarding the future financial performance of the Company in which a deferred tax asset has been recognised.
The Company has not recorded a deferred tax asset due to the uncertainty as to whether and when future taxable profits will arise.
Management is also required to assess whether it is appropriate to recognise a deferred tax asset relating to disallowed hybrid and other mismatch deductions available to the Company. The recognition of deferred tax assets is based upon whether it is more likely than not that sufficient and suitable dual inclusion income arising in the future against which the reversal of these adjustments can be deducted.
 
The Company has not recorded a deferred tax asset due to the uncertainty as to whether and when dual inclusion income will arise.


4.


Employees

The average monthly number of employees during the year was 1 (2023 - 2)

Page 4

 
MCCHRYSTAL GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Other debtors
1,269
711

Prepayments and accrued income
1,802
2,814

3,071
3,525



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,091
72

Amounts owed to group undertakings
2,896,724
2,819,723

Other taxation and social security
6,236
4,417

Other creditors
935
3,404

Accruals and deferred income
17,250
18,700

2,923,236
2,846,316


Amounts owed to group undertakings are unsecured, repayable on demand and were subject to interest accruing at a rate of 1.8% per annum. Interest stopped being charged on amounts owed to group undertakings from 1 January 2023.


7.


Share capital

2024
2023
£
£
Allotted and called up



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



8.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,110 (2023 - £7,151). The amount payable to the fund at the balance sheet date was £935 (2023 - £899).

Page 5

 
MCCHRYSTAL GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Related party transactions

McChrystal Group Ltd has taken the exemption under FRS 102, section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclose transactions with other companies that are wholly owned within the group. 


10.


Controlling party

The parent company of McChrystal Group Ltd is McChrystal Group LLC a company incorporated in the USA. The results of the Company are consolidated into the parent company, whose registered office address is 333 North Fairfax Street, Suite 100, Alexandria, United States, VA 22314, USA.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 7 March 2025 by Jessica Teague (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.

 
Page 6