Registered number
10317212
McCarthy Hill Family Office Ltd
Filleted Accounts
31 March 2024
McCarthy Hill Family Office Ltd
Registered number: 10317212
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 937,500 937,500
Tangible assets 4 16,498 20,162
953,998 957,662
Current assets
Debtors 5 26,328 35,353
Investments held as current assets 6 124,019 124,019
Cash at bank and in hand 78,970 -
229,317 159,372
Creditors: amounts falling due within one year 7 (595,526) (687,220)
Net current liabilities (366,209) (527,848)
Total assets less current liabilities 587,789 429,814
Creditors: amounts falling due after more than one year 8 (389,726) (206,162)
Provisions for liabilities (3,135) (3,831)
Net assets 194,928 219,821
Capital and reserves
Called up share capital 1 1
Revaluation reserve 10 187,500 187,500
Profit and loss account 7,427 32,320
Shareholder's funds 194,928 219,821
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G M Hill
Director
Approved by the board on 22 April 2025
McCarthy Hill Family Office Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Client base (owned):
Cost
At 1 April 2023 937,500
At 31 March 2024 937,500
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 937,500
At 31 March 2023 937,500
Client base (owned): 2024 2023
£ £
Historical cost 750,000 750,000
Cumulative depreciation based on historical cost - -
750,000 750,000
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 38,084
Additions 483
At 31 March 2024 38,567
Depreciation
At 1 April 2023 17,922
Charge for the year 4,147
At 31 March 2024 22,069
Net book value
At 31 March 2024 16,498
At 31 March 2023 20,162
5 Debtors 2024 2023
£ £
Trade debtors 26,328 25,353
Other debtors - 10,000
26,328 35,353
6 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 124,019 124,019
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 42,692 79,299
Other loans 28,473 66,615
Trade creditors - 334
Taxation and social security costs 47,348 29,269
Accruals 4,614 19,410
Other creditors 472,399 492,293
595,526 687,220
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 30,764
Other long-term loans 229,726 15,398
Other creditors 160,000 160,000
389,726 206,162
9 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 53,869 123,593
10 Revaluation reserve 2024 2023
£ £
At 1 April 2023 187,500 187,500
At 31 March 2024 187,500 187,500
11 Other information
McCarthy Hill Family Office Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Jessop House
Outrams Wharf
Little Eaton
Derby
DE21 5EL
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