| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| McConnell & Fyffe Limited |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved and authorised for issue by the director and authorised for issue on |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| AMORTISATION |
| At 1 January 2024 |
| Amortisation for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors and amounts |
| recoverable on contract |
| Prepayments and accrued income |
| 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 |
| Other creditors |
| Director's current account | 4,693 | 1,149 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| 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. |
| 2024 | 2023 |
| £ | £ |
| Money held in clients' accounts | 3,824,840 | 3,759,823 |
| 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. |