Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-10-01false3235falsetruefalse SC105200 2023-10-01 2024-09-30 SC105200 2022-10-01 2023-09-30 SC105200 2024-09-30 SC105200 2023-09-30 SC105200 1 2023-10-01 2024-09-30 SC105200 d:Director2 2023-10-01 2024-09-30 SC105200 d:Director4 2023-10-01 2024-09-30 SC105200 d:Director8 2023-10-01 2024-09-30 SC105200 d:Director9 2023-10-01 2024-09-30 SC105200 d:Director9 2024-09-30 SC105200 d:RegisteredOffice 2023-10-01 2024-09-30 SC105200 c:OfficeEquipment 2023-10-01 2024-09-30 SC105200 c:OfficeEquipment 2024-09-30 SC105200 c:OfficeEquipment 2023-09-30 SC105200 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC105200 c:ComputerEquipment 2023-10-01 2024-09-30 SC105200 c:ComputerEquipment 2024-09-30 SC105200 c:ComputerEquipment 2023-09-30 SC105200 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC105200 c:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC105200 c:Goodwill 2023-10-01 2024-09-30 SC105200 c:Goodwill 2024-09-30 SC105200 c:Goodwill 2023-09-30 SC105200 c:CurrentFinancialInstruments 2024-09-30 SC105200 c:CurrentFinancialInstruments 2023-09-30 SC105200 c:Non-currentFinancialInstruments 2024-09-30 SC105200 c:Non-currentFinancialInstruments 2023-09-30 SC105200 c:CurrentFinancialInstruments c:WithinOneYear 2024-09-30 SC105200 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 SC105200 c:Non-currentFinancialInstruments c:AfterOneYear 2024-09-30 SC105200 c:Non-currentFinancialInstruments c:AfterOneYear 2023-09-30 SC105200 c:ShareCapital 2024-09-30 SC105200 c:ShareCapital 2023-09-30 SC105200 c:RetainedEarningsAccumulatedLosses 2024-09-30 SC105200 c:RetainedEarningsAccumulatedLosses 2023-09-30 SC105200 d:OrdinaryShareClass1 2023-10-01 2024-09-30 SC105200 d:OrdinaryShareClass1 2024-09-30 SC105200 d:OrdinaryShareClass2 2023-10-01 2024-09-30 SC105200 d:OrdinaryShareClass2 2024-09-30 SC105200 d:FRS102 2023-10-01 2024-09-30 SC105200 d:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 SC105200 d:FullAccounts 2023-10-01 2024-09-30 SC105200 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC105200 c:WithinOneYear 2024-09-30 SC105200 c:WithinOneYear 2023-09-30 SC105200 c:BetweenOneFiveYears 2024-09-30 SC105200 c:BetweenOneFiveYears 2023-09-30 SC105200 c:MoreThanFiveYears 2024-09-30 SC105200 c:MoreThanFiveYears 2023-09-30 SC105200 c:Goodwill c:OwnedIntangibleAssets 2023-10-01 2024-09-30 SC105200 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC105200










MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
 

COMPANY INFORMATION


Directors
Mr A Kerr 
Mr R Fletcher 
Mr A Hardie 
Mr J L M Craig (resigned 15 October 2024)




Registered number
SC105200



Registered office
13 Bon Accord Crescent

Aberdeen

AB11 6DE




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
REGISTERED NUMBER:SC105200

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
£
£

Fixed assets
  

Intangible assets
 4 
598,756
686,866

Tangible assets
 5 
21,278
31,120

  
620,034
717,986

Current assets
  

Debtors: amounts falling due within one year
 6 
888,871
1,929,197

Cash at bank and in hand
  
723
201,373

  
889,594
2,130,570

Creditors: amounts falling due within one year
 7 
(714,740)
(602,013)

Net current assets
  
 
 
174,854
 
 
1,528,557

Total assets less current liabilities
  
794,888
2,246,543

Creditors: amounts falling due after more than one year
 8 
(154,218)
(175,689)

Provisions for liabilities
  

Deferred tax
  
-
(1,256)

  
 
 
-
 
 
(1,256)

Net assets
  
640,670
2,069,598


Capital and reserves
  

Called up share capital 
 9 
5,250
5,250

Profit and loss account
  
635,420
2,064,348

  
640,670
2,069,598


Page 1

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
REGISTERED NUMBER:SC105200

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 24 March 2025.




Mr A Kerr
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

MCHB Wealth Management Limited is limited by shares and incorporated in Scotland with registration number SC105200. The address of the registered office is 13 Bon Accord Crescent, Aberdeen, AB11 6DE. 
The financial statements are presented in Sterling which is the functional currency of the Company and
rounded to the nearest £. 
The Company changed its name after the year end to MCHB Wealth Management Limited.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting 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 reporting 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 reporting date.

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.
 
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

Page 4

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

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:

Office equipment
-
20% straight line
Computer equipment
-
33% straight line

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.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

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 directors, during the year was 32 (2023 - 35).

Page 5

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 October 2023
881,104



At 30 September 2024

881,104



Amortisation


At 1 October 2023
194,238


Charge for the year on owned assets
88,110



At 30 September 2024

282,348



Net book value



At 30 September 2024
598,756



At 30 September 2023
686,866



Page 6

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Computer equipment
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
61,248
61,574
122,822


Additions
6,622
482
7,104



At 30 September 2024

67,870
62,056
129,926



Depreciation


At 1 October 2023
44,940
46,762
91,702


Charge for the year on owned assets
10,321
6,625
16,946



At 30 September 2024

55,261
53,387
108,648



Net book value



At 30 September 2024
12,609
8,669
21,278



At 30 September 2023
16,308
14,812
31,120


6.


Debtors

2024
2023
£
£


Trade debtors
210,000
249,880

Amounts owed by group companies
576,782
1,651,959

Other debtors
80,000
-

Prepayments and accrued income
21,822
27,358

Deferred taxation
267
-

888,871
1,929,197


Page 7

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
24,457
19,388

Bank loans
10,352
10,088

Other loans
78,154
133,103

Other taxation and social security
471,287
192,012

Accruals and deferred income
130,490
247,422

714,740
602,013



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,047
17,399

Other loans
-
65,603

Other creditors
147,171
92,687

154,218
175,689



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,000 Ordinary A shares of £1.00 each
5,000
5,000
250 Ordinary B shares of £1.00 each
250
250

5,250

5,250


Page 8

 
MCHB WEALTH MANAGEMENT LIMITED (FORMERLY MCHARDY FINANCIAL LIMITED)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
150,774
187,200

Later than 1 year and not later than 5 years
603,096
-

Later than 5 years
225,000
-

978,870
187,200


11.


Related party transactions

During the year the parent Company, McHardy Group Limited, was advanced a loan of £150,000 (2023 - £1,500,000). At 30 September 2024 the balance outstanding was £2,230,207.
This balance is secured by a floating charge over the assets of all group companies including McHardy Financial Limited.


12.


Post balance sheet events

In October 2024, the Company became a 100% subsidiary of MCHB Perth Limited as a result of a management buy out.


Page 9