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Registered number: SC336779










MCHARDY GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
MCHARDY GROUP LIMITED
 

COMPANY INFORMATION


Directors
Mr R Fletcher 
Mr A Kerr 
Mr R Allison 




Registered number
SC336779



Registered office
13 Bon Accord Crescent

Aberdeen

Scotland

AB11 6DE




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
MCHARDY GROUP LIMITED
REGISTERED NUMBER: SC336779

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
£
£

Fixed assets
  

Intangible assets
 4 
558,601
641,983

Investments
 5 
5,216,083
4,747,113

  
5,774,684
5,389,096

Current assets
  

Debtors: amounts falling due within one year
 6 
-
1,840,406

Cash at bank and in hand
  
307
307

  
307
1,840,713

Creditors: amounts falling due within one year
 7 
(2,905,160)
(3,444,786)

Net current liabilities
  
 
 
(2,904,853)
 
 
(1,604,073)

Total assets less current liabilities
  
2,869,831
3,785,023

Creditors: amounts falling due after more than one year
 8 
(1,559,862)
(2,703,815)

  

Net assets
  
1,309,969
1,081,208


Capital and reserves
  

Called up share capital 
 9 
333
333

Profit and loss account
  
1,309,636
1,080,875

  
1,309,969
1,081,208

Page 1

 
MCHARDY GROUP LIMITED
REGISTERED NUMBER: SC336779

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 6 form part of these financial statements.

Page 2

 
MCHARDY GROUP LIMITED
 

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

1.


General information

McHardy Group Limited is limited by shares and incorporated in Scotland with registration number SC336779. 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 £.

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

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.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
MCHARDY GROUP LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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 3 (2023 - 3).


4.


Intangible assets




Goodwill

£



Cost


At 1 October 2023
833,816



At 30 September 2024

833,816



Amortisation


At 1 October 2023
191,833


Charge for the year on owned assets
83,382



At 30 September 2024

275,215



Net book value



At 30 September 2024
558,601



At 30 September 2023
641,983



Page 4

 
MCHARDY GROUP LIMITED
 

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

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
4,747,113


Revaluations
468,970



At 30 September 2024
5,216,083




The Company owns 100% of the issued ordinary share capital of MHBL (Holdings) Limited, McHardy Private Wealth Limited,  Peebles Financial Limited and Tom Munro Financial Solutions Limited.


6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
1,840,406



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
670,345
625,493

Amounts owed to group undertakings
1,287,815
2,319,293

Other creditors
947,000
500,000

2,905,160
3,444,786


Secured loans
During the year the Company was advanced a loan of £150,000 (2023 - £1,500,000). This balance is secured by a floating charge over the assets of the Company.

Page 5

 
MCHARDY GROUP LIMITED
 

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

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
1,559,862
2,133,815

Other creditors
-
570,000

1,559,862
2,703,815


Secured loans
During the year the Company was advanced a loan of £150,000 (2023 - £1,500,000). This balance is secured by a floating charge over the assets of the Company.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,420 (2023 - 1,420) Ordinary A shares of £0.10 each
142.00
142.00
1,083 (2023 - 1,083) Ordinary B shares of £0.10 each
108.30
108.30
283 (2023 - 283) Ordinary C shares of £0.10 each
28.30
28.30
89 (2023 - 89) Ordinary D shares of £0.10 each
8.90
8.90
134 (2023 - 134) Ordinary E shares of £0.10 each
13.40
13.40
39 (2023 - 39) Ordinary F shares of £0.10 each
3.90
3.90
67 (2023 - 67) Ordinary G shares of £0.10 each
6.70
6.70
20 (2023 - 20) Ordinary H shares of £0.10 each
2.00
2.00
113 (2023 - 113) Ordinary I shares of £0.10 each
11.30
11.30
19 (2023 - 19) Ordinary J shares of £0.10 each
1.90
1.90
66 (2023 - 66) Ordinary K shares of £0.10 each
6.60
6.60

333.30

333.30



10.


Post balance sheet events

On 15 November 2024, a special resolution was passed where all shares were reclassified to 3,333 Ordinary £0.10 shares.


Page 6