Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30truefalse2023-07-01The principal activity of the company in the year under review was that of the rental of properties.22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00625969 2023-07-01 2024-06-30 00625969 2022-07-01 2023-06-30 00625969 2024-06-30 00625969 2023-06-30 00625969 c:Director1 2023-07-01 2024-06-30 00625969 d:FurnitureFittings 2023-07-01 2024-06-30 00625969 d:FurnitureFittings 2024-06-30 00625969 d:FurnitureFittings 2023-06-30 00625969 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00625969 d:FreeholdInvestmentProperty 2024-06-30 00625969 d:FreeholdInvestmentProperty 2023-06-30 00625969 d:CurrentFinancialInstruments 2024-06-30 00625969 d:CurrentFinancialInstruments 2023-06-30 00625969 d:Non-currentFinancialInstruments 2024-06-30 00625969 d:Non-currentFinancialInstruments 2023-06-30 00625969 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 00625969 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 00625969 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 00625969 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 00625969 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 00625969 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 00625969 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 00625969 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 00625969 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 00625969 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 00625969 d:ShareCapital 2024-06-30 00625969 d:ShareCapital 2023-06-30 00625969 d:SharePremium 2024-06-30 00625969 d:SharePremium 2023-06-30 00625969 d:RevaluationReserve 2023-07-01 2024-06-30 00625969 d:OtherMiscellaneousReserve 2024-06-30 00625969 d:OtherMiscellaneousReserve 2023-06-30 00625969 d:RetainedEarningsAccumulatedLosses 2024-06-30 00625969 d:RetainedEarningsAccumulatedLosses 2023-06-30 00625969 c:FRS102 2023-07-01 2024-06-30 00625969 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 00625969 c:FullAccounts 2023-07-01 2024-06-30 00625969 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00625969 2 2023-07-01 2024-06-30 00625969 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 00625969










JOHN MCENTEE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
JOHN MCENTEE LIMITED
REGISTERED NUMBER: 00625969

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,709
3

Investment property
 5 
793,000
793,000

  
794,709
793,003

Current assets
  

Debtors: amounts falling due within one year
 6 
6,031
5,135

Cash at bank and in hand
 7 
41,337
36,560

  
47,368
41,695

Creditors: amounts falling due within one year
 8 
(34,796)
(36,159)

Net current assets
  
 
 
12,572
 
 
5,536

Total assets less current liabilities
  
807,281
798,539

Creditors: amounts falling due after more than one year
 9 
(73,363)
(80,104)

Provisions for liabilities
  

Deferred tax
  
(35,396)
(34,970)

  
 
 
(35,396)
 
 
(34,970)

Net assets
  
698,522
683,465


Capital and reserves
  

Called up share capital 
  
4,440
4,440

Share premium account
 11 
59,560
59,560

Other reserves
 11 
235,328
235,328

Profit and loss account
 11 
399,194
384,137

  
698,522
683,465


Page 1

 
JOHN MCENTEE LIMITED
REGISTERED NUMBER: 00625969
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers 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 director acknowledges her 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 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 by: 




Judith Barrows
Director

Date: 26 March 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

John McEntee Ltd is private company, limited by shares, registered in England and Wales. The company's registered office address is:
MHA House Charter Court
Phoenix Way
Swansea Enterprise Park
Swansea
SA7 9FS
The principal activity of the company in the year under review was that of the rental of properties.
The presentation currency of the financial statements is the Pound Sterling (£) and has been rounded to the nearest pound.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has made a profit in the current period and has both net current assets and net assets
at the balance sheet date. However, the company is dependent on the continuing support of its
director and bankers.
The director has assessed the balance sheet and likely future cash flow of the company at the date of approving the financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, she continues to adopt the going concern basis in preparing the financial statements.

Page 3

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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:

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

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 4

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.8

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:

Fixtures and fittings
-
33%

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.

Page 5

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

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.

 
2.11

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.

 
2.12

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.

  
2.13

Judgments in applying accounting policies and key sources of estimation uncertainty

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
I
mpairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

Page 6

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.14

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.

 
2.15

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 the director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
2
2

Page 7

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2023
3,323


Additions
2,275



At 30 June 2024

5,598



Depreciation


At 1 July 2023
3,320


Charge for the year on owned assets
569



At 30 June 2024

3,889



Net book value



At 30 June 2024
1,709



At 30 June 2023
3

Page 8

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
793,000



At 30 June 2024
793,000

The 2024 valuations were made by its director, on an open market value for existing use basis.



At 30 June 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
530,716
530,716

530,716
530,716


6.


Debtors

2024
2023
£
£


Trade debtors
2,715
2,595

Other debtors
356
260

Prepayments and accrued income
2,960
2,280

6,031
5,135



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
41,337
36,560

41,337
36,560


Page 9

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,480
10,480

Trade creditors
90
240

Corporation tax
5,436
7,854

Other taxation and social security
695
-

Other creditors
9,252
9,313

Accruals and deferred income
8,843
8,272

34,796
36,159



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
73,363
80,104

73,363
80,104


Page 10

 
JOHN MCENTEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,480
10,480


10,480
10,480

Amounts falling due 1-2 years

Bank loans
10,480
10,480


10,480
10,480

Amounts falling due 2-5 years

Bank loans
31,440
31,440


31,440
31,440

Amounts falling due after more than 5 years

Bank loans
31,443
38,184

31,443
38,184

83,843
90,584



11.


Reserves

Revaluation reserve

Non distributable reserves relate to revaluation gains/losses on the company's investment properties of £262,284 (2023 - £262,284), net of deferred tax on the unrealised gains of £26,956 (2023 - £26,956).

 
Page 11