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REGISTERED NUMBER: NI615244 (Northern Ireland)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

McConnell & Fyffe Limited

McConnell & Fyffe Limited (Registered number: NI615244)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McConnell & Fyffe Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mr C G Parke





REGISTERED OFFICE: The Old Rectory
21 Church Street
Omagh
Co. Tyrone
BT78 1DG





REGISTERED NUMBER: NI615244 (Northern Ireland)





ACCOUNTANTS: HMCI Limited
T/A Hamill McIlwaine
28-30 Old Mountfield Road
Omagh
Co. Tyrone
BT79 7BJ

McConnell & Fyffe Limited (Registered number: NI615244)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 94,004 125,337
Tangible assets 5 17,240 19,487
111,244 144,824

CURRENT ASSETS
Debtors 6 315,549 302,249
Cash at bank 2,614 2,034
318,163 304,283
CREDITORS
Amounts falling due within one year 7 281,775 291,505
NET CURRENT ASSETS 36,388 12,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,632

157,602

CREDITORS
Amounts falling due after more than one
year

8

2,818

11,469
NET ASSETS 144,814 146,133

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 143,814 145,133
SHAREHOLDERS' FUNDS 144,814 146,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

McConnell & Fyffe Limited (Registered number: NI615244)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 10 April 2025 and were signed by:





Mr C G Parke - Director


McConnell & Fyffe Limited (Registered number: NI615244)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

McConnell & Fyffe Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The company's principal activity is that of a professional solicitors office.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis. The principal accounting policies, which have been applied consistently throughout the year, are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of fifteen years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation.

The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost, or valuation, of tangible fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used are as follows:

Improvements to property - 10% reducing balance
Fixtures and fittings - 10% reducing balance
Motor vehicles - 20% reducing balance
Computer equipment - 20% reducing balance

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Revenue grants are credited to the Profit and Loss account when received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

McConnell & Fyffe Limited (Registered number: NI615244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 470,000
AMORTISATION
At 1 January 2024 344,663
Amortisation for year 31,333
At 31 December 2024 375,996
NET BOOK VALUE
At 31 December 2024 94,004
At 31 December 2023 125,337

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 1,807 12,234 33,969 48,010
Additions - - 1,513 1,513
At 31 December 2024 1,807 12,234 35,482 49,523
DEPRECIATION
At 1 January 2024 1,241 8,391 18,891 28,523
Charge for year 57 384 3,319 3,760
At 31 December 2024 1,298 8,775 22,210 32,283
NET BOOK VALUE
At 31 December 2024 509 3,459 13,272 17,240
At 31 December 2023 566 3,843 15,078 19,487

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors and amounts
recoverable on contract 313,091 299,700
Prepayments and accrued income 2,458 2,549
315,549 302,249

McConnell & Fyffe Limited (Registered number: NI615244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Office accounts - overdraft 129,613 147,713
Bank loans 29,183 45,199
Tax 32,195 25,878
Other creditors 86,091 71,566
Director's current account 4,693 1,149
281,775 291,505

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 2,818 11,469

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary shares £1.00 1,000 1,000

10. CLIENT ACCOUNTS

The company holds monies on behalf of clients in separately designated bank accounts and maintains a corresponding client ledger of an equal amount. Accordingly these balances have been offset.

20242023
£   £   
Money held in clients' accounts3,824,8403,759,823
Clients' ledger balance(3,824,840)(3,759,823)

11. RELATED PARTY DISCLOSURES

The balance on the director's current account is £4,693 (2023: £1,149) which is included within creditors. No interest is being charged on this balance.