Caseware UK (AP4) 2023.0.135 2023.0.135 122024-04-01falseSpecialist restoration of Maserati's11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05059222 2024-04-01 2025-03-31 05059222 2023-04-01 2024-03-31 05059222 2025-03-31 05059222 2024-03-31 05059222 c:Director1 2024-04-01 2025-03-31 05059222 d:Buildings d:ShortLeaseholdAssets 2024-04-01 2025-03-31 05059222 d:Buildings d:ShortLeaseholdAssets 2025-03-31 05059222 d:Buildings d:ShortLeaseholdAssets 2024-03-31 05059222 d:PlantMachinery 2024-04-01 2025-03-31 05059222 d:PlantMachinery 2025-03-31 05059222 d:PlantMachinery 2024-03-31 05059222 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05059222 d:MotorVehicles 2024-04-01 2025-03-31 05059222 d:MotorVehicles 2025-03-31 05059222 d:MotorVehicles 2024-03-31 05059222 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05059222 d:FurnitureFittings 2024-04-01 2025-03-31 05059222 d:FurnitureFittings 2025-03-31 05059222 d:FurnitureFittings 2024-03-31 05059222 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05059222 d:OfficeEquipment 2024-04-01 2025-03-31 05059222 d:OfficeEquipment 2025-03-31 05059222 d:OfficeEquipment 2024-03-31 05059222 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05059222 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05059222 d:Goodwill 2025-03-31 05059222 d:Goodwill 2024-03-31 05059222 d:CurrentFinancialInstruments 2025-03-31 05059222 d:CurrentFinancialInstruments 2024-03-31 05059222 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 05059222 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05059222 d:ShareCapital 2025-03-31 05059222 d:ShareCapital 2024-03-31 05059222 d:RetainedEarningsAccumulatedLosses 2025-03-31 05059222 d:RetainedEarningsAccumulatedLosses 2024-03-31 05059222 c:OrdinaryShareClass1 2024-04-01 2025-03-31 05059222 c:OrdinaryShareClass1 2025-03-31 05059222 c:OrdinaryShareClass1 2024-03-31 05059222 c:OrdinaryShareClass2 2024-04-01 2025-03-31 05059222 c:OrdinaryShareClass2 2025-03-31 05059222 c:OrdinaryShareClass2 2024-03-31 05059222 c:FRS102 2024-04-01 2025-03-31 05059222 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 05059222 c:FullAccounts 2024-04-01 2025-03-31 05059222 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05059222 2 2024-04-01 2025-03-31 05059222 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 05059222 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 05059222 e:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05059222









BILL MCGRATH LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 March 2025

 
BILL MCGRATH LIMITED
Registered number: 05059222

BALANCE SHEET
As at 31 March 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 6 
13,664
17,537

  
13,664
17,537

Current assets
  

Stocks
 7 
396,246
495,891

Debtors: amounts falling due within one year
 8 
79,613
117,889

Cash at bank and in hand
  
167,832
114,221

  
643,691
728,001

Creditors: amounts falling due within one year
 9 
(139,224)
(155,444)

Net current assets
  
 
 
504,467
 
 
572,557

Total assets less current liabilities
  
518,131
590,094

Provisions for liabilities
  

Deferred tax
 10 
(3,157)
(4,109)

  
 
 
(3,157)
 
 
(4,109)

Net assets
  
514,974
585,985


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
514,874
585,885

  
514,974
585,985


Page 1

 
BILL MCGRATH LIMITED
Registered number: 05059222
    
BALANCE SHEET (CONTINUED)
As at 31 March 2025

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 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 5 June 2025.




A J Heywood
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

1.


General information

Bill McGrath Ltd is a private limited liability company with share capital incorporated in England & Wales under company number 05059222. The company's registered office and principle place of business is Unit 8 Claggy Road, Kimpton, Hertfordshire, SG4 8QB.

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. The amounts in the financial statements are rounded to the nearest £.

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'.

Page 3

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.3

Revenue recognition

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.6

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 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.

 
2.8

Intangible assets

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.

 
2.9

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.

Page 5

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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:

S/Term Leasehold Property
-
10 years
Plant & machinery
-
4 years
Motor vehicles
-
4 years
Fixtures & fittings
-
4 years
Office equipment
-
4 years

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

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.

Page 6

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet 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.

 
2.16

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.


4.


Employees

The average monthly number of employees, including directors, during the year was 11 (2024 - 12).

Page 7

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

5.


Intangible assets




Goodwill

£



Cost


At 1 April 2024
64,200



At 31 March 2025

64,200



Amortisation


At 1 April 2024
64,200



At 31 March 2025

64,200



Net book value



At 31 March 2025
-



At 31 March 2024
-



Page 8

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

6.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 April 2024
15,469
98,053
17,915
9,880
22,496


Additions
-
422
-
-
1,186



At 31 March 2025

15,469
98,475
17,915
9,880
23,682



Depreciation


At 1 April 2024
12,838
87,834
17,915
8,585
19,104


Charge for the year on owned assets
397
3,096
-
544
1,444



At 31 March 2025

13,235
90,930
17,915
9,129
20,548



Net book value



At 31 March 2025
2,234
7,545
-
751
3,134



At 31 March 2024
2,631
10,219
-
1,295
3,392
Page 9

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

           6.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 April 2024
163,813


Additions
1,608



At 31 March 2025

165,421



Depreciation


At 1 April 2024
146,276


Charge for the year on owned assets
5,481



At 31 March 2025

151,757



Net book value



At 31 March 2025
13,664



At 31 March 2024
17,537


7.


Stocks

2025
2024
£
£

Parts (goods to be sold)
240,000
240,000

Vehicles for resale
156,246
255,891

396,246
495,891


Page 10

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

8.


Debtors

2025
2024
£
£


Trade debtors
4,204
54,026

Other debtors
1,858
-

Prepayments and accrued income
73,551
63,863

79,613
117,889



9.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
58,444
54,756

Corporation tax
27,004
29,103

Other taxation and social security
43,542
39,445

Other creditors
2,672
27,073

Accruals and deferred income
7,562
5,067

139,224
155,444



10.


Deferred taxation




2025


£






At beginning of year
(4,109)


Charged to profit or loss
952



At end of year
(3,157)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(3,157)
(4,109)

(3,157)
(4,109)

Page 11

 
BILL MCGRATH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025

11.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



75 (2024 - 75) Ordinary A shares of £1 each
75
75
25 (2024 - 25) Ordinary B shares of £1 each
25
25

100

100



12.


Pension commitments

The company operates a defined contribution pension scheme whose assets are held seperately from those of the company. The pension cost charge represents contributions paid by the company to the scheme and amounts to £201,713 (2024: £82,000) for the directors and £8,197 (2024: £8,695) for the employees. At 31 March 2025 there were outstanding employer contributions of £698 (2024: £646).


13.


Controlling party

The company is immediately and ultimately controlled by A J Heywood, a director of the company, by virtue of his shareholding in the company.

 
Page 12