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Registered number: 08041761









ADINAL MCGREGOR LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
ADINAL MCGREGOR LIMITED
REGISTERED NUMBER: 08041761

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2,146,266
2,243,541

  
2,146,266
2,243,541

Current and none current assets
  

Debtors: amounts falling due after more than one year
 5 
1,050,000
1,050,000

Debtors: amounts falling due within one year
 5 
4,301,546
4,726,546

Cash at bank and in hand
 6 
24,907
79,052

  
5,376,453
5,855,598

Creditors: amounts falling due within one year
 7 
(6,616,358)
(7,406,989)

Net current liabilities
  
 
 
(1,239,905)
 
 
(1,551,391)

Total assets less current liabilities
  
906,361
692,150

  

Net assets
  
906,361
692,150


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
906,360
692,149

  
906,361
692,150


Page 1

 
ADINAL MCGREGOR LIMITED
REGISTERED NUMBER: 08041761
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 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 on 28 April 2025.




Daniel Andre Mcpherson
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ADINAL MCGREGOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Adinal McGregor Limited is a private company limited by shares and is incorporated in England. The
address of the registered office is:124 Finchley Road, London, United Kingdom, NW3 5JS.

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 following principal accounting policies have been applied:

 
2.2

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 statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
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:

Interest income
Revenue is recognised as interest accrues using the effective interest method.
Dividends and return on investments
Revenue is recognised when the payment is received.
 

Page 3

 
ADINAL MCGREGOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

Taxation

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.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

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.

Page 4

 
ADINAL MCGREGOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
ADINAL MCGREGOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Fixed asset investments





Fixed Asset investments

£



Cost or valuation


At 1 August 2023
2,243,541


Additions
7,996


Disposals
(6,950)


Revaluations
(48,198)



At 31 July 2024

2,196,389



Impairment


Charge for the period
50,123



At 31 July 2024

50,123



Net book value



At 31 July 2024
2,146,266



At 31 July 2023
2,243,541

Page 6

 
ADINAL MCGREGOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
Restated 2023
£
£

Due after more than one year

Other debtors
1,050,000
1,050,000

1,050,000
1,050,000


The long-term loan of £1,050,000 is lent to a company under common control, and the interest is accrued at 15% and received during the year.

2024
2023
£
£

Due within one year

Amounts owed by group undertakings
1,866,449
1,866,449

Other debtors
2,435,097
2,860,097

4,301,546
4,726,546



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
24,907
79,052

Less: bank overdrafts
(2)
-

24,905
79,052


Page 7

 
ADINAL MCGREGOR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
2
-

Trade creditors
3,622
3,622

Amounts owed to group undertakings
1,232,127
1,212,036

Corporation tax
3,471
-

Other creditors
5,365,286
6,166,431

Accruals and deferred income
11,850
24,900

6,616,358
7,406,989



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



9.


Prior year adjustment

The total loan of £1,050,000 due from Alterium Ltd has been reclassified as a long-term debtor at an interest rate of 15%, which has no impact on reserves.


10.


Transactions with Directors

At the balance sheet date the company owed £5,365,286 (2023: £6,166,431)  to the director Daniel Andre Mcpherson.The loan is interest free, unsecured and repayable on demand.The company has not entered into any transactions in the year with related parties that are both material and not concluded under market conditions. 

 
Page 8