| REGISTERED NUMBER: 01059082 (England and Wales) |
| Group Strategic Report, Report of the Directors and |
| Audited |
| Consolidated Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| McCann Group Limited |
| REGISTERED NUMBER: 01059082 (England and Wales) |
| Group Strategic Report, Report of the Directors and |
| Audited |
| Consolidated Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| McCann Group Limited |
| McCann Group Limited (Registered number: 01059082) |
| Contents of the Consolidated Financial Statements |
| for the year ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Directors | 7 |
| Report of the Independent Auditors | 9 |
| Consolidated Income Statement | 12 |
| Consolidated Other Comprehensive Income | 13 |
| Consolidated Balance Sheet | 14 |
| Company Balance Sheet | 15 |
| Consolidated Statement of Changes in Equity | 16 |
| Company Statement of Changes in Equity | 17 |
| Consolidated Cash Flow Statement | 18 |
| Notes to the Consolidated Cash Flow Statement | 19 |
| Notes to the Consolidated Financial Statements | 20 |
| McCann Group Limited |
| Company Information |
| for the year ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
Doug Perry FCA |
| AUDITORS: |
| Statutory Auditors and |
| Chartered Accountants |
| Cawley House |
| 149-155 Canal Street |
| Nottingham |
| Nottinghamshire |
| NG1 7HR |
| McCann Group Limited (Registered number: 01059082) |
| Group Strategic Report |
| for the year ended 31 December 2024 |
| 1. Impact of the Ransomware Attack |
| Since the previous year-end, McCann Group Ltd experienced a significant ransomware attack on our central servers, leading to the loss of critical accounting and payroll data. This created substantial challenges in maintaining financial reporting and day-to-day operational efficiency. Despite proactive security measures, the attack resulted in the need for extensive data reconstruction, which placed additional strain on internal resources. |
| Following the swift notification and action of our IT support systems, the impact was minimised to the Servers but to prevent any latent malware being activated, a wholesale review and upgrade to storage and operating systems was undertaken immediately to enable all of our remote sites to remain operational. |
| Due to the professionalism and commitment of our Finance Department Team, we were able to maintain supplier payments and Payroll throughout the period. |
| Ultimately, we were able to recover all of the data that had been encrypted, without recourse to the attackers, which ultimately provides testament to the existing processes that were in place at the time. |
| We have now fully recovered from the event and have emerged with a new fully operational system that has recently been accredited to an industry recognised standard. |
| 2. Response and Recovery Efforts |
| In response to the attack, the company took was able to mitigate the impact by: |
| - Data Reconstruction: |
| We have been able to fully recover all encrypted date and restore this to new financial and payroll systems that were upgraded at the time. This was done by leveraging available backups, historical records, and external verification sources where necessary. |
| - IT and Cybersecurity Expertise : |
| We engaged cybersecurity specialists to assess the breach, advise on security modifications and restore date to more secure environments, along with additional security measures prevent further incidents. |
| - Operational Adjustments: |
| Temporary measures were put in place to ensure that payroll processing and financial reporting continued, uninterrupted. This ensured that minimal financial disruption was experienced by staff, suppliers and stakeholders both during and after the event. |
| 3. Risk Management and Future Mitigation |
| Recognising the severity of cybersecurity threats, the company is implementing robust measures to prevent similar incidents in the future, including: |
| - Enhanced Cybersecurity Infrastructure: |
| Strengthening IT security protocols, increasing system monitoring, and implementing advanced threat detection software. |
| - Data Backup and Redundancy: |
| Establishing more frequent and secure backup procedures, ensuring critical data is stored in multiple locations. |
| - Employee Training and Awareness: |
| Conducting regular cybersecurity training for employees to recognise and prevent potential threats. |
| - Strategic Investment in IT Security: |
| Allocating resources to enhance data protection and business continuity planning. |
| Despite these challenges, McCann Group Ltd remains committed to financial transparency and operational resilience. By addressing the vulnerabilities exposed by this incident, the Company is now stronger and better prepared for future risks. |
| McCann Group Limited (Registered number: 01059082) |
| Group Strategic Report |
| for the year ended 31 December 2024 |
| REVIEW OF BUSINESS |
| This review is intended to be consistent with the size and nature of our business. We aim to present a balanced and comprehensive review of the development and performance of the company during the year to 31st December 2024, its position at year end and an update of events after the balance sheet date, to enable a better understanding by the readers of the accounts, of the Group's financial position |
| The Group has consolidated its core business, returning profits of £1,678,765, before tax, on a turnover of £ 82,894,375. This was achieved by concentrating on our highways maintenance and infrastructure skills and ensuring that projects obtained and delivered certainty and a healthy margin. Due to increased return, cash flow and profitability have been restored with healthy cash balances being reported at year end. |
| The company will continue to maintain its focus on working capital and cash management in the future and continue to leverage our specialist expertise whilst seeking new opportunities, within our sector, for increased margin generation. |
| Since the Year end, we have continued to maintain strong growth within our chosen sectors with the recent award of several notable projects: - |
| - Liverpool City Council Street Lighting Term Maintenance (3 plus 2x 1 years) |
| - Gull Wing Bridge Term Maintenance (5 Years) |
| - Nottingham Footbridge |
| - A52 QMC to Priory Signs and Streetlighting |
| - Humber Bridge Free Flow Tolling System Civils Infrastructure |
| We believe that this success demonstrates the resilience of the business and the ongoing demand for our services. However, we remain mindful of the challenges that lie ahead in the coming year and the impact of the current economic and geo-political climate. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| - Government spending decisions |
| We recognise that the majority of our income is from National and Local government sources and can be affected by changes in government policy. |
| - Economic uncertainty |
| There is ongoing uncertainty due to the risk of recession, further inflationary and interest rate increases along with possible changes in Government policy. |
| - Geopolitical disruptions |
| The current uncertain state of world politics, including Ukraine, Yemen and the Middle East can all have an impact on local economic conditions. |
| - Tariffs (USA) |
| We do not trade with the USA directly and most of our imported goods are manufactured within Europe. We therefore do not consider this to be a significant risk to the business at this time. |
| - Financial risk |
| The company has a broad range of customers including both private companies and public sector bodies. |
| The risk that the company will suffer from significant levels of bad debts is managed by the diversified portfolio and well established credit control procedures across the company. The company is funded through a combination of hire purchase funding and a credit facility with the company's bankers who have remained supportive throughout this period and beyond. |
| The Directors continue to monitor these impacts and react as necessary. |
| The above risks are typical of the current UK economy and we are confident that they do not represent an undue risk to the success of the business. Our current portfolio of Government backed long term contracts, will continue to provide a significant buffer to these uncertainties. This is recognised in the Company improving its cash position since the year end and continues to work with positive cash balances, as it expects to continue to do so through 2025. |
| McCann Group Limited (Registered number: 01059082) |
| Group Strategic Report |
| for the year ended 31 December 2024 |
| SECTION 172(1) STATEMENT |
| The Directors of McCann Group Ltd acknowledge their duty under section 172(1) of the Companies Act 2006 to act in a way that they consider, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In making decisions during the financial year, the Directors have had regard to the following key factors: |
| Stakeholder Engagement and Key Considerations |
| During this period, our response to the Ransomware attack typified how we have continued to maintain our consideration for the likely consequences of our decisions for the long term, the need to act fairly between members of the company, and the company's wider relationships. Examples of these decisions are given below: |
| - Employees |
| The well-being and development of our employees remain a priority. We have continued to invest in training, well-being initiatives and professional development opportunities. We continue to review our Policies and have recently introduced an enhanced Parental Policies covering Maternity, Paternity and Adoption Leave which provides up to 26weeks at full pay prior to reverting to statutory amounts. |
| - Customers |
| Our commitment to delivering high-quality services remains paramount. The Directors have actively engaged with key customers to maintain strong relationships, particularly in light of operational challenges caused by the cyberattack. Measures were taken to ensure minimal service disruption and |
| uphold customer confidence. |
| - Suppliers |
| We value our supplier partnerships and strive for mutually beneficial relationships. Despite the operational impact of the ransomware incident, we maintained transparent communication with our suppliers, ensuring timely payments and ongoing collaboration to support business continuity. |
| - Shareholders |
| The Directors have kept shareholders informed of business developments, including the financial impact of the ransomware attack. Steps have been taken to mitigate risks and strengthen the company's resilience to future cyber threats. |
| - Community and Environment |
| We remain committed to acting responsibly towards the environment and the communities in which we operate. During the year, we continued our initiatives aimed at sustainability and corporate social responsibility, ensuring our business operations align with our long-term environmental goals. |
| - Regulatory and Governance Considerations |
| Compliance with legal and regulatory obligations is integral to our decision-making process. Following the cyberattack, we reviewed and enhanced our cybersecurity framework to strengthen data protection and regulatory compliance. |
| - Decision-Making and Long-Term Impact |
| The Directors have made strategic decisions that support the long-term sustainability and growth of McCann Group Ltd. These include strengthening cybersecurity measures, investing in employee well-being, and reinforcing business resilience to protect stakeholders' interests. |
| The Board remains committed to reviewing and refining its stakeholder engagement strategies to ensure that the company continues to operate successfully and responsibly in the years ahead. |
| BUSINESS ENVIRONMENT |
| McCann Group Ltd are based in Nottingham and with strategically based regional offices we are best placed to delivery of a first rate, comprehensive service, throughout the country. With a large, highly skilled, directly employed workforce, supported by an extensive specialised plant fleet we can take on and deliver the most demanding of projects to programme and budget. |
| We provide our clients with integrated infrastructure solutions that meet business needs and exceeds expectations each and every time. We are a key player in creating and maintaining essential elements of the country's infrastructure and by doing so efficiently, offer a first-class service to all our clients. |
| We have developed a wide range of specialist contracting services to support the successful delivery of major infrastructure projects throughout the UK. As a leading supplier and installer of street lighting, traffic signs, signals, communication systems and associated civil engineering we can also play a key role in the development of project design and buildability whilst working comfortably within a wide range of contractual arrangements. |
| McCann Group Limited (Registered number: 01059082) |
| Group Strategic Report |
| for the year ended 31 December 2024 |
| STRATEGY |
| McCann Group Ltd's strategy is focused on sustainable growth, operational resilience, and delivering long-term value to all stakeholders. Our approach in 2024 has been shaped by both opportunities and challenges, particularly the need to recover from the ransomware attack that impacted our financial and payroll systems. |
| 1. Strengthening Business Resilience |
| In response to the cyberattack, the company has taken decisive actions to improve its cybersecurity framework and operational continuity: |
| - Cybersecurity Enhancements - Investing in advanced security measures, including stronger data encryption, improved system monitoring, and enhanced employee cybersecurity training. |
| - Data Recovery & Risk Management - Successfully recreating lost financial and payroll data while implementing new backup and recovery protocols to mitigate future risks. |
| - Regulatory Compliance - Ensuring compliance with data protection laws and governance best practices to safeguard business integrity. |
| 2. Driving Sustainable Growth |
| Despite the operational setbacks, McCann Group Ltd remains focused on growth and expansion in key markets: |
| - Market Diversification - Identifying new opportunities in adjacent markets to reduce dependence on single revenue streams. |
| - Customer-Centric Approach - Strengthening client relationships through improved service delivery, transparency, and digital transformation. |
| - Operational Efficiency - Streamlining processes to enhance productivity and cost-effectiveness, with a focus on leveraging technology for improved efficiency. |
| 3. Investing in People & Culture |
| Employees are the backbone of our success, and we remain committed to attracting, developing, and retaining top talent: |
| - Workforce Development |
| Continued investment in training, career progression, and employee well-being. |
| - Employee Support |
| Ensuring all staff were supported during the data recovery process, particularly in payroll and HR matters. We continue to provide a Company specific benefit package to all employees, including high street discounts, access to support services and the like through a integrated employee support system. |
| - Enhancing Workplace Culture |
| Promoting a collaborative, innovative, and inclusive work environment. |
| - Attracting and Maintaining Employees |
| We offer an exciting package for all employees and tailor individual offers for each employee to take reconcile the business needs with those of the employee. |
| 4. ESG & Sustainability Commitment |
| McCann Group Ltd remains dedicated to sustainability and responsible business practices: |
| - Environmental Initiatives |
| Reducing our carbon footprint through energy efficiency measures and sustainable sourcing. |
| - Community Engagement |
| Strengthening corporate social responsibility efforts to support local communities and industry partnerships. |
| - Governance & Ethics |
| Upholding the highest standards of corporate governance to build trust and accountability. |
| McCann Group Limited (Registered number: 01059082) |
| Group Strategic Report |
| for the year ended 31 December 2024 |
| OUTLOOK FOR 2025 AND BEYOND |
| Looking ahead, McCann Group Ltd is committed to: |
| - Expanding market presence through innovation and strategic partnerships. |
| - Strengthening stakeholder engagement and long-term financial stability. |
| - Despite challenges, the company remains well-positioned for sustainable growth and continued success in the years ahead. |
| ON BEHALF OF THE BOARD: |
| McCann Group Limited (Registered number: 01059082) |
| Report of the Directors |
| for the year ended 31 December 2024 |
| The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024. |
| DIVIDENDS |
| The total distribution of dividends for the year ended 31 December 2024 will be £ 471,000 . |
| RESEARCH AND DEVELOPMENT |
| The group continue to invest in research and development. |
| As technology continues to improve it is vital that the group continues to invest in research and development in order to ensure that the future plans of the company can be met in an efficient way; whilst also considering the impact on the environment. . |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report. |
| POLITICAL DONATIONS AND EXPENDITURE |
| All donations made during the year were non-political charitable donations. |
| STREAMLINED ENERGY AND CARBON REPORTING |
| 2024 |
| Energy consumption used to calculate emissions (kWh) | 12,533,220.77 |
| Gas (kWh) | 186,431.11 |
| Electricity (kWh) | 296,133.26 |
| Transport fuels (kWh) | 12,050,656.40 |
| Other energy sources (Scope 1 & 2) kWh | 0.00 |
| Transport fuels (Scope 3) kWh | N/A |
| Emissions from combustion of gas tCO2e (Scope 1) | 34.10 |
| Emissions from combustion of fuel for transport purposes tCO2e (Scope 1) | 3,042.20 |
| Emissions from business travel in rental cars or employee-owned vehicles (Scope 3) |
N/A |
| Emissions from purchased electricity tCO2e (Scope 2, location-based) | 61.31 |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| McCann Group Limited (Registered number: 01059082) |
| Report of the Directors |
| for the year ended 31 December 2024 |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| AUDITORS |
| The auditors, Clayton & Brewill, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| McCann Group Limited |
| Opinion |
| We have audited the financial statements of McCann Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Report of the Independent Auditors to the Members of |
| McCann Group Limited |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on pages seven and eight, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| - Enquiry of management and those charged with governance around actual and potential litigation and claims; |
| - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; |
| - Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Report of the Independent Auditors to the Members of |
| McCann Group Limited |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Statutory Auditors and |
| Chartered Accountants |
| Cawley House |
| 149-155 Canal Street |
| Nottingham |
| Nottinghamshire |
| NG1 7HR |
| McCann Group Limited (Registered number: 01059082) |
| Consolidated |
| Income Statement |
| for the year ended 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| TURNOVER | 3 | 94,540,933 | 82,285,616 |
| Cost of sales | 84,842,878 | 71,771,226 |
| GROSS PROFIT | 9,698,055 | 10,514,390 |
| Administrative expenses | 7,837,850 | 6,627,861 |
| 1,860,205 | 3,886,529 |
| Other operating income | 147,720 | 54,173 |
| OPERATING PROFIT | 5 | 2,007,925 | 3,940,702 |
| Income from fixed asset investments | 4 | - |
| Interest receivable and similar income | 80,620 | 16,200 |
| 80,624 | 16,200 |
| 2,088,549 | 3,956,902 |
| Gain/loss on revaluation of investment property |
- |
160,865 |
| 2,088,549 | 4,117,767 |
| Interest payable and similar expenses | 6 | 622,294 | 951,964 |
| PROFIT BEFORE TAXATION | 1,466,255 | 3,165,803 |
| Tax on profit | 7 | 422,772 | 868,218 |
| PROFIT FOR THE FINANCIAL YEAR |
| Profit attributable to: |
| Owners of the parent | 1,043,483 | 2,297,585 |
| McCann Group Limited (Registered number: 01059082) |
| Consolidated |
| Other Comprehensive Income |
| for the year ended 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR | 1,043,483 | 2,297,585 |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,043,483 |
2,297,585 |
| Total comprehensive income attributable to: |
| Owners of the parent | 1,043,483 | 2,297,585 |
| McCann Group Limited (Registered number: 01059082) |
| Consolidated Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 10 | 10,495,837 | 5,586,479 |
| Investments | 11 | - | - |
| Investment property | 12 | - | 2,885,000 |
| 10,495,837 | 8,471,479 |
| CURRENT ASSETS |
| Stocks | 13 | 13,673,491 | 16,311,971 |
| Debtors | 14 | 12,251,685 | 10,512,788 |
| Investments | 15 | 66,178 | 66,178 |
| Cash at bank | 9,478,281 | 7,377,689 |
| 35,469,635 | 34,268,626 |
| CREDITORS |
| Amounts falling due within one year | 16 | 25,535,183 | 27,357,424 |
| NET CURRENT ASSETS | 9,934,452 | 6,911,202 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
20,430,289 |
15,382,681 |
| CREDITORS |
| Amounts falling due after more than one year |
17 |
(6,079,828 |
) |
(1,805,530 |
) |
| PROVISIONS FOR LIABILITIES | 21 | (791,952 | ) | (591,125 | ) |
| NET ASSETS | 13,558,509 | 12,986,026 |
| CAPITAL AND RESERVES |
| Called up share capital | 22 | 1,000 | 1,000 |
| Revaluation reserve | 23 | 73,153 | 73,153 |
| Retained earnings | 23 | 13,484,356 | 12,911,873 |
| SHAREHOLDERS' FUNDS | 13,558,509 | 12,986,026 |
| The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2025 and were signed on its behalf by: |
| J J McCann - Director |
| McCann Group Limited (Registered number: 01059082) |
| Company Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 10 |
| Investments | 11 |
| Investment property | 12 |
| CURRENT ASSETS |
| Debtors | 14 |
| Investments | 15 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 16 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
17 |
( |
) |
| PROVISIONS FOR LIABILITIES | 21 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 22 |
| Revaluation reserve | 23 |
| Retained earnings | 23 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | 58,678 | 170,741 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| McCann Group Limited (Registered number: 01059082) |
| Consolidated Statement of Changes in Equity |
| for the year ended 31 December 2024 |
| Called up |
| share | Retained | Revaluation | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 January 2023 | 1,000 | 10,819,288 | 73,153 | 10,893,441 |
| Changes in equity |
| Dividends | - | (205,000 | ) | - | (205,000 | ) |
| Total comprehensive income | - | 2,297,585 | - | 2,297,585 |
| Balance at 31 December 2023 | 1,000 | 12,911,873 | 73,153 | 12,986,026 |
| Changes in equity |
| Dividends | - | (471,000 | ) | - | (471,000 | ) |
| Total comprehensive income | - | 1,043,483 | - | 1,043,483 |
| Balance at 31 December 2024 | 1,000 | 13,484,356 | 73,153 | 13,558,509 |
| McCann Group Limited (Registered number: 01059082) |
| Company Statement of Changes in Equity |
| for the year ended 31 December 2024 |
| Called up |
| share | Retained | Revaluation | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 January 2023 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 31 December 2023 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 31 December 2024 |
| McCann Group Limited (Registered number: 01059082) |
| Consolidated Cash Flow Statement |
| for the year ended 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 5,491,116 | 15,071,139 |
| Interest paid | (471,641 | ) | (784,456 | ) |
| Interest element of hire purchase payments paid |
(150,653 |
) |
(167,508 |
) |
| Tax paid | (100 | ) | (45,929 | ) |
| Net cash from operating activities | 4,868,722 | 14,073,246 |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | (6,263,336 | ) | (834,513 | ) |
| Purchase of investment property | - | (2,724,135 | ) |
| Sale of tangible fixed assets | 50,651 | 141,267 |
| Sale of investment property | 2,885,000 | - |
| Interest received | 80,620 | 16,200 |
| Dividends received | 4 | - |
| Net cash from investing activities | (3,247,061 | ) | (3,401,181 | ) |
| Cash flows from financing activities |
| New loans & HP in year | 8,696,378 | 3,891,787 |
| Capital repayments in year | (7,747,221 | ) | (10,841,985 | ) |
| Amount introduced by directors | 471,000 | 205,000 |
| Amount withdrawn by directors | (470,226 | ) | (208,550 | ) |
| Equity dividends paid | (471,000 | ) | (205,000 | ) |
| Net cash from financing activities | 478,931 | (7,158,748 | ) |
| Increase in cash and cash equivalents | 2,100,592 | 3,513,317 |
| Cash and cash equivalents at beginning of year |
2 |
7,377,689 |
3,864,372 |
| Cash and cash equivalents at end of year |
2 |
9,478,281 |
7,377,689 |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Cash Flow Statement |
| for the year ended 31 December 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Profit before taxation | 1,466,255 | 3,165,803 |
| Depreciation charges | 1,316,490 | 1,491,047 |
| Profit on disposal of fixed assets | (13,165 | ) | (12,667 | ) |
| Gain on revaluation of fixed assets | - | (160,865 | ) |
| Finance costs | 622,294 | 951,964 |
| Finance income | (80,624 | ) | (16,200 | ) |
| 3,311,250 | 5,419,082 |
| Decrease in stocks | 2,638,480 | 5,630,864 |
| (Increase)/decrease in trade and other debtors | (1,745,537 | ) | 1,681,271 |
| Increase in trade and other creditors | 1,286,923 | 2,339,922 |
| Cash generated from operations | 5,491,116 | 15,071,139 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 December 2024 |
| 31.12.24 | 1.1.24 |
| £ | £ |
| Cash and cash equivalents | 9,478,281 | 7,377,689 |
| Year ended 31 December 2023 |
| 31.12.23 | 1.1.23 |
| £ | £ |
| Cash and cash equivalents | 7,377,689 | 3,864,372 |
| 3. | ANALYSIS OF CHANGES IN NET DEBT |
| At 1.1.24 | Cash flow | At 31.12.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 7,377,689 | 2,100,592 | 9,478,281 |
| 7,377,689 | 2,100,592 | 9,478,281 |
| Liquid resources |
| Current asset investments | 66,178 | - | 66,178 |
| 66,178 | - | 66,178 |
| Debt |
| Finance leases | (3,152,082 | ) | 816,453 | (2,335,629 | ) |
| Debts falling due within 1 year | (4,738,383 | ) | 2,903,625 | (1,834,758 | ) |
| Debts falling due after 1 year | - | (4,669,234 | ) | (4,669,234 | ) |
| (7,890,465 | ) | (949,156 | ) | (8,839,621 | ) |
| Total | (446,598 | ) | 1,151,436 | 704,838 |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements |
| for the year ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| McCann Group Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Basis of consolidation |
| The consolidated financial statements include the financial statements of the parent company and each of those companies in which it owns, directly or indirectly through subsidiaries, over 50 percent of the voting rights or in which it is in a position to govern the financial and operating policies of the entity. The companies acquired during the financial period have been consolidated from the beginning of the period in full. Subsidiaries sold have been included up to their date of disposal. |
| All intercompany transactions, balances and gains or losses on transactions between subsidiaries are eliminated as part of the consolidation process. Minority interests are presented in the consolidated balance sheets separate from the equity attributable to shareholders. Minority interests are separately disclosed in the consolidated profit and loss account. |
| Acquisitions of companies are accounted for using the purchase method. The cost of an acquisition is measured at fair value over the assets given up, shares issued or liabilities incurred or assumed at the date of acquisition including any costs directly attributable to the acquisition. The excess acquisition cost over the fair value of net assets acquired is recognised as goodwill. If the cost of acquisition is less than the fair value of the Group’s share of the net assets acquired, the difference is recognised directly through profit and loss. |
| Turnover |
| Revenue on contracts is valued on a contract by contract basis. When the outcome of a contract can be estimated reliably contract revenue and costs are recognised by reference to the degree of completion of each contract as measured by the proportion of total costs at the balance sheet date to the estimated total cost of the contract. When the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred, where it is probable these costs will be recovered. |
| When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised immediately. Contract costs are recognised as an expense in the period in which they are incurred. |
| Where costs incurred plus recognised profits less recognised losses exceed progress billings, the balance is shown as amounts recoverable on contracts within debtors. Where progress billings exceed costs incurred plus recognised profits less recognised losses, the balance is shown as deferred income within creditors. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the group. |
| An analysis of turnover by class of business is given below: |
| 2024 | 2023 |
| £ | £ |
| Rendering of services | 82,888,038 | 67,125,484 |
| Sale of goods | 11,652,895 | 15,160,132 |
| 94,540,933 | 82,285,616 |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries | 15,019,456 | 13,083,477 |
| Social security costs | 1,767,393 | 1,616,653 |
| Other pension costs | 377,857 | 311,391 |
| 17,164,706 | 15,011,521 |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Administration | 88 | 86 |
| Production | 191 | 169 |
| 2024 | 2023 |
| £ | £ |
| Directors' remuneration | 863,759 | 863,852 |
| Directors' pension contributions to money purchase schemes | 15,136 | 7,176 |
| Information regarding the highest paid director is as follows: |
| 2024 | 2023 |
| £ | £ |
| Emoluments etc | 240,094 | 253,788 |
| Pension contributions to money purchase schemes | 3,634 | 1,356 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Equipment Hire | 6,012,474 | 3,253,405 |
| Venue Hire | 708,806 | 622,262 |
| Depreciation - owned assets | 289,622 | 145,258 |
| Depreciation - assets on hire purchase contracts | 1,026,870 | 1,345,787 |
| Profit on disposal of fixed assets | (13,165 | ) | (12,667 | ) |
| Auditors' remuneration | 58,700 | 50,950 |
| Auditors' remuneration for non audit work | 70,766 | 63,572 |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2024 | 2023 |
| £ | £ |
| Bank interest | 323 | 33,171 |
| Bank loan interest | 471,318 | 751,130 |
| Loan interest | - | 155 |
| Hire purchase | 150,653 | 167,508 |
| 622,294 | 951,964 |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Current tax: |
| UK corporation tax | 367,058 | - |
| Prior year adjustment | (145,113 | ) | - |
| Total current tax | 221,945 | - |
| Deferred tax | 200,827 | 868,218 |
| Tax on profit | 422,772 | 868,218 |
| 8. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements. |
| 9. | DIVIDENDS |
| 2024 | 2023 |
| £ | £ |
| Interim | 471,000 | 205,000 |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 10. | TANGIBLE FIXED ASSETS |
| Group |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 January 2024 | 652,560 | 11,315,124 | 155,532 |
| Additions | 5,575,763 | 683,773 | - |
| Disposals | - | (126,711 | ) | - |
| At 31 December 2024 | 6,228,323 | 11,872,186 | 155,532 |
| DEPRECIATION |
| At 1 January 2024 | - | 6,561,979 | 119,015 |
| Charge for year | - | 1,266,949 | 10,272 |
| Eliminated on disposal | - | (91,222 | ) | - |
| At 31 December 2024 | - | 7,737,706 | 129,287 |
| NET BOOK VALUE |
| At 31 December 2024 | 6,228,323 | 4,134,480 | 26,245 |
| At 31 December 2023 | 652,560 | 4,753,145 | 36,517 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 | 191,590 | 93,691 | 12,408,497 |
| Additions | 3,800 | - | 6,263,336 |
| Disposals | (6,342 | ) | - | (133,053 | ) |
| At 31 December 2024 | 189,048 | 93,691 | 18,538,780 |
| DEPRECIATION |
| At 1 January 2024 | 57,034 | 83,990 | 6,822,018 |
| Charge for year | 33,537 | 5,734 | 1,316,492 |
| Eliminated on disposal | (4,345 | ) | - | (95,567 | ) |
| At 31 December 2024 | 86,226 | 89,724 | 8,042,943 |
| NET BOOK VALUE |
| At 31 December 2024 | 102,822 | 3,967 | 10,495,837 |
| At 31 December 2023 | 134,556 | 9,701 | 5,586,479 |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 10. | TANGIBLE FIXED ASSETS - continued |
| Group |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 | 9,322,620 | 168,662 | 9,491,282 |
| Additions | 677,463 | - | 677,463 |
| Disposals | (33,419 | ) | - | (33,419 | ) |
| Transfer to ownership | (3,597,370 | ) | - | (3,597,370 | ) |
| At 31 December 2024 | 6,369,294 | 168,662 | 6,537,956 |
| DEPRECIATION |
| At 1 January 2024 | 5,102,352 | 42,165 | 5,144,517 |
| Charge for year | 995,245 | 31,625 | 1,026,870 |
| Eliminated on disposal | (19,386 | ) | - | (19,386 | ) |
| Transfer to ownership | (2,597,796 | ) | - | (2,597,796 | ) |
| At 31 December 2024 | 3,480,415 | 73,790 | 3,554,205 |
| NET BOOK VALUE |
| At 31 December 2024 | 2,888,879 | 94,872 | 2,983,751 |
| At 31 December 2023 | 4,220,268 | 126,497 | 4,346,765 |
| Company |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| 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 |
| Included in cost or valuation of land and buildings is freehold land of £ 184,796 (2023 - £ 184,796 ) which is not depreciated. |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 10. | TANGIBLE FIXED ASSETS - continued |
| Company |
| Cost or valuation at 31 December 2024 is represented by: |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| Valuation in 2013 | 8,915 | - | 8,915 |
| Cost | 6,219,408 | 90,895 | 6,310,303 |
| 6,228,323 | 90,895 | 6,319,218 |
| If freehold land and properties had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 6,219,408 | 787,234 |
| Value of land in freehold land and buildings | 184,796 | 184,796 |
| Freehold land and buildings were valued on an open market basis on 11 December 2013 by Innes England Chartered Surveyors . |
| 11. | FIXED ASSET INVESTMENTS |
| Company |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 11. | FIXED ASSET INVESTMENTS - continued |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 11. | FIXED ASSET INVESTMENTS - continued |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Loss for the year | ( |
) | ( |
) |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 11. | FIXED ASSET INVESTMENTS - continued |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| 12. | INVESTMENT PROPERTY |
| Group |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2024 | 2,885,000 |
| Disposals | (2,885,000 | ) |
| At 31 December 2024 | - |
| NET BOOK VALUE |
| At 31 December 2024 | - |
| At 31 December 2023 | 2,885,000 |
| 13. | STOCKS |
| Group |
| 2024 | 2023 |
| £ | £ |
| Work-in-progress | 13,673,491 | 16,311,971 |
| 14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Trade debtors | 1,198,845 | 524,773 |
| Amounts owed by group undertakings | 2,846,182 | - |
| Amounts owed by related parties | 1,116,404 | 984,518 | 1,116,404 | 984,518 |
| Other debtors | 54,333 | 44,657 |
| Amounts recoverable on |
| contracts | 6,442,592 | 8,264,593 | - | - |
| VAT | - | 260,930 |
| Prepayments and accrued income | 593,329 | 433,317 |
| 12,251,685 | 10,512,788 |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 15. | CURRENT ASSET INVESTMENTS |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Listed investments | 66,178 | 66,178 | 66,177 | 66,177 |
| Market value of listed investments at 31 December 2024 held by the group and the company - £ (66,178) (2023 - £ (66,178) ). |
| 16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Bank loans and overdrafts (see note 18) | 1,834,758 |
4,738,383 |
| Hire purchase contracts (see note 19) | 925,035 | 1,346,552 |
| Trade creditors | 10,151,806 | 8,441,243 |
| Amounts owed to group undertakings | - | - |
| Amounts owed to related parties | 3,814,606 | 4,511,644 | 3,814,606 | 4,511,644 |
| Tax | 365,461 | 143,616 |
| Social security and other taxes | 609,927 | 663,135 |
| VAT | 18,111 | - | 12,200 | 4,577 |
| Other creditors | 363,543 | 449,020 |
| Directors' current accounts | 845 | 71 | 845 | 71 |
| Accrued expenses | 7,447,127 | 7,058,699 |
| Deferred income | 3,964 | 5,061 | 3,964 | 5,061 |
| 25,535,183 | 27,357,424 |
| 17. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Bank loans (see note 18) | 4,669,234 | - |
| Hire purchase contracts (see note 19) | 1,410,594 | 1,805,530 |
| 6,079,828 | 1,805,530 |
| 18. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Amounts falling due within one year or | on demand: |
| Bank loans | 1,834,758 | 4,738,383 |
| Amounts falling due between one and | two years: |
| Bank loans - 1-2 years | 221,537 | - |
| Amounts falling due between two and | five years: |
| Bank loans - 2-5 years | 4,447,697 | - |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 19. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Gross obligations repayable: |
| Within one year | 1,024,589 | 1,456,908 |
| Between one and five years | 1,504,497 | 1,932,814 |
| 2,529,086 | 3,389,722 |
| Finance charges repayable: |
| Within one year | 99,554 | 110,356 |
| Between one and five years | 93,903 | 127,284 |
| 193,457 | 237,640 |
| Net obligations repayable: |
| Within one year | 925,035 | 1,346,552 |
| Between one and five years | 1,410,594 | 1,805,530 |
| 2,335,629 | 3,152,082 |
| 20. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Company |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| On 20/05/1987 the company gave unlimited guarantee over J McCann & Co (Nott'm) Ltd bank accounts. |
| On 28/07/2016 the company gave security in the form of three properties to Barclays Bank PLC. The charges each contain a negative pledge. |
| On 27/09/2024 the company gave security in the form of land and buildings to Barclays Bank PLC. The charge contains a negative pledge. |
| 21. | PROVISIONS FOR LIABILITIES |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Deferred tax | 791,952 | 591,125 | 5,449 | 6,839 |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 21. | PROVISIONS FOR LIABILITIES - continued |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 | 591,125 |
| Provided during year | 202,217 |
| Utilised during year | (1,390 | ) |
| Balance at 31 December 2024 | 791,952 |
| Company |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 |
| Utilised during year | ( |
) |
| Balance at 31 December 2024 |
| 22. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 23. | RESERVES |
| Group |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | 12,911,873 | 73,153 | 12,985,026 |
| Profit for the year | 1,043,483 | 1,043,483 |
| Dividends | (471,000 | ) | (471,000 | ) |
| At 31 December 2024 | 13,484,356 | 73,153 | 13,557,509 |
| Company |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | 8,762,904 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 December 2024 | 8,350,582 |
| 24. | PENSION COMMITMENTS |
| The company operates a defined contribution scheme and contributions are charged in the profit and loss account as they accrue. The charge for the year was £258,203 (2023: £530,641). |
| McCann Group Limited (Registered number: 01059082) |
| Notes to the Consolidated Financial Statements - continued |
| for the year ended 31 December 2024 |
| 25. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023: |
| 2024 | 2023 |
| £ | £ |
| J J McCann |
| Balance outstanding at start of year | (71 | ) | (3,621 | ) |
| Amounts advanced | 470,226 | 208,550 |
| Amounts repaid | (471,000 | ) | (205,000 | ) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | (845 | ) | (71 | ) |
| 26. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
| 27. | ULTIMATE CONTROLLING PARTY |
| The controlling party is McCann Holdings Limited. |
| The ultimate controlling party is J J McCann. |