IRIS Accounts Production v24.3.2.46 05453269 Board of Directors 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054532692023-07-31054532692024-07-31054532692023-08-012024-07-31054532692022-07-31054532692022-08-012023-07-31054532692023-07-3105453269ns15:EnglandWales2023-08-012024-07-3105453269ns14:PoundSterling2023-08-012024-07-3105453269ns10:Director12023-08-012024-07-3105453269ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3105453269ns10:SmallEntities2023-08-012024-07-3105453269ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3105453269ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3105453269ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3105453269ns10:FullAccounts2023-08-012024-07-3105453269ns10:Director22023-08-012024-07-3105453269ns10:Director32023-08-012024-07-3105453269ns10:Director42023-08-012024-07-3105453269ns10:Director52023-08-012024-07-3105453269ns10:Director62023-08-012024-07-3105453269ns10:RegisteredOffice2023-08-012024-07-3105453269ns5:CurrentFinancialInstruments2024-07-3105453269ns5:CurrentFinancialInstruments2023-07-3105453269ns5:Non-currentFinancialInstruments2024-07-3105453269ns5:Non-currentFinancialInstruments2023-07-3105453269ns5:ShareCapital2024-07-3105453269ns5:ShareCapital2023-07-3105453269ns5:RetainedEarningsAccumulatedLosses2024-07-3105453269ns5:RetainedEarningsAccumulatedLosses2023-07-3105453269ns5:PlantMachinery2023-08-012024-07-3105453269ns5:FurnitureFittings2023-08-012024-07-3105453269ns5:ComputerEquipment2023-08-012024-07-3105453269ns5:PlantMachinery2023-07-3105453269ns5:FurnitureFittings2023-07-3105453269ns5:ComputerEquipment2023-07-3105453269ns5:PlantMachinery2024-07-3105453269ns5:FurnitureFittings2024-07-3105453269ns5:ComputerEquipment2024-07-3105453269ns5:PlantMachinery2023-07-3105453269ns5:FurnitureFittings2023-07-3105453269ns5:ComputerEquipment2023-07-3105453269ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3105453269ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3105453269ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-07-3105453269ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-07-3105453269ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-07-3105453269ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-07-3105453269ns5:Secured2024-07-3105453269ns5:Secured2023-07-3105453269ns5:DeferredTaxation2023-07-3105453269ns5:DeferredTaxation2023-08-012024-07-3105453269ns5:DeferredTaxation2024-07-3105453269ns5:RetainedEarningsAccumulatedLosses2023-08-012024-07-31054532693ns10:Director32023-07-31054532693ns10:Director32022-07-31054532693ns10:Director32023-08-012024-07-31054532693ns10:Director32022-08-012023-07-31054532693ns10:Director32024-07-31054532693ns10:Director32023-07-3105453269ns10:Director222023-07-3105453269ns10:Director222022-07-3105453269ns10:Director222023-08-012024-07-3105453269ns10:Director222022-08-012023-07-3105453269ns10:Director222024-07-3105453269ns10:Director222023-07-31054532691ns10:Director12023-07-31054532691ns10:Director12022-07-31054532691ns10:Director12023-08-012024-07-31054532691ns10:Director12022-08-012023-07-31054532691ns10:Director12024-07-31054532691ns10:Director12023-07-31054532696ns10:Director62023-07-31054532696ns10:Director62022-07-31054532696ns10:Director62023-08-012024-07-31054532696ns10:Director62022-08-012023-07-31054532696ns10:Director62024-07-31054532696ns10:Director62023-07-31
REGISTERED NUMBER: 05453269 (England and Wales)















McCann & Partners Ltd

Unaudited Financial Statements for the Year Ended 31 July 2024






McCann & Partners Ltd (Registered number: 05453269)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


McCann & Partners Ltd

Company Information
for the Year Ended 31 July 2024







Directors: Mr G B Hopkins
Mr M Williams
Mr J M Thomas
Mr D R Carter
Mr C M Morgan
Mr L Poole





Registered office: Faraday House
Terra Nova Way
Penarth Marina
Penarth
CF64 1SA





Registered number: 05453269 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

McCann & Partners Ltd (Registered number: 05453269)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 125,014 121,173

Current assets
Stocks 61,020 61,020
Debtors 5 1,470,215 1,758,515
Cash at bank and in hand 253,121 322,367
1,784,356 2,141,902
Creditors
Amounts falling due within one year 6 (1,600,585 ) (1,544,505 )
Net current assets 183,771 597,397
Total assets less current liabilities 308,785 718,570

Creditors
Amounts falling due after more than one
year

7

(54,167

)

(104,167

)

Provisions for liabilities 9 (30,624 ) (29,526 )
Net assets 223,994 584,877

Capital and reserves
Called up share capital 10 699 500
Retained earnings 11 223,295 584,377
Shareholders' funds 223,994 584,877

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:





Mr J M Thomas - Director


McCann & Partners Ltd (Registered number: 05453269)

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

1. Statutory information

McCann & Partners Ltd 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 on a going concern basis. The Directors have reviewed and considered relevant information, including the rolling forecasts and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of consultancy services to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Work in progress
Work in progress is valued at the lower of cost and net realisable value, after due review by the Directors for any irrecoverable amounts. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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 balance sheet date.


McCann & Partners Ltd (Registered number: 05453269)

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

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

3. Employees and directors

The average number of employees during the year was 66 (2023 - 54 ) .

4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 August 2023 5,662 84,719 311,471 401,852
Additions 815 2,421 40,140 43,376
At 31 July 2024 6,477 87,140 351,611 445,228
Depreciation
At 1 August 2023 4,025 46,986 229,668 280,679
Charge for year 353 6,547 32,635 39,535
At 31 July 2024 4,378 53,533 262,303 320,214
Net book value
At 31 July 2024 2,099 33,607 89,308 125,014
At 31 July 2023 1,637 37,733 81,803 121,173

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,396,835 1,542,938
Other debtors 4,964 24,173
Directors' current accounts - 89,879
Prepayments 68,416 101,525
1,470,215 1,758,515

McCann & Partners Ltd (Registered number: 05453269)

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

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 166,671 142,608
Tax 330,554 311,363
Social security and other taxes 82,230 91,726
VAT 209,312 253,674
Other creditors 38,073 112,907
Directors' current accounts 698,432 573,544
Accruals and deferred income 25,313 8,683
1,600,585 1,544,505

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 54,167 50,000
Bank loans - 2-5 years - 54,167
54,167 104,167

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 104,167 154,167

The Development Bank of Wales loan of £250,000 is secured by a charge dated 30 June 2020 by a fixed and floating charge over the company's assets.

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 30,624 29,526

Deferred
tax
£   
Balance at 1 August 2023 29,526
Charge to Income Statement during year 1,098
Balance at 31 July 2024 30,624

10. Called up share capital

Number: Class: Nominal Value 2024 2023
£ £
100 Ordinary A £1 100 100
400 Ordinary B £1 400 400
99 Ordinary C £1 99 -
100 Ordinary D £1 100 -
699 500

McCann & Partners Ltd (Registered number: 05453269)

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

11. Reserves
Retained
earnings
£   

At 1 August 2023 584,346
Profit for the year 936,009
Dividends (1,297,060 )
At 31 July 2024 223,295

12. Pension commitments

The company operates a defined contribution pension scheme. The pension cost charged for the year represents contributions payable by the company to the scheme and amounted to £169,888 (2023: £123,399). At the year end the pension creditor was £38,073 (2023: £30,314).

13. Other financial commitments

In April 2016 the company agreed an additional 15 year lease on the business premises. The annual commitment to the lease is £69,600.

14. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr M Williams
Balance outstanding at start of year (236,097 ) (282,038 )
Amounts advanced 445,858 508,071
Amounts repaid (426,749 ) (462,130 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (216,988 ) (236,097 )

Mr G B Hopkins
Balance outstanding at start of year (115,383 ) (147,926 )
Amounts advanced 161,056 140,469
Amounts repaid (254,275 ) (107,926 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (208,602 ) (115,383 )

Mr J M Thomas
Balance outstanding at start of year (222,063 ) (260,982 )
Amounts advanced 440,597 501,202
Amounts repaid (424,799 ) (462,283 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (206,265 ) (222,063 )

Mr L Poole
Balance outstanding at start of year 89,880 40,000
Amounts advanced 76,000 62,064
Amounts repaid (232,458 ) (12,184 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (66,578 ) 89,880