ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

Company registration number: 06844071

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	MCANDREW MARTIN LIMITED


MCANDREW MARTIN LIMITED

COMPANY INFORMATION

Directors	Dr T J Gould (resigned 10 March 2025)
	P J Davidson (appointed 15 October 2024)
	D G Huse
	J M Marshall
	T A Redfern (resigned 30 August 2024)


Registered number	06844071


Registered office	Trafalgar House 11 Acorn Business Centre
	Northarbour Road
	Cosham
	Hampshire
	PO6 3TH


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


MCANDREW MARTIN LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 11


MCANDREW MARTIN LIMITED REGISTERED NUMBER:06844071

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Tangible assets	6		89,222		114,689
			89,222		114,689
Current assets
Debtors: amounts falling due within one year	7	3,072,422		2,975,010
Cash at bank and in hand		1,787,180		1,206,518
		4,859,602		4,181,528
Creditors: amounts falling due within one year	8	(2,204,013)		(2,312,477)
Net current assets			2,655,589		1,869,051
Total assets less current liabilities			2,744,811		1,983,740
Provisions for liabilities
Deferred tax	9	(6,640)		(20,775)
			(6,640)		(20,775)
Net assets			2,738,171		1,962,965

Capital and reserves
Called up share capital	100	100
Profit and loss account	2,738,071	1,962,865
	2,738,171	1,962,965

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J M Marshall

Director

Date: 25 September 2025

The notes on pages 2 to 11 form part of these financial statements.

Page 1


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

McAndrew Martin Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

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.

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2


MCANDREW MARTIN 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:

When the outcome of individual contracts can be estimated reliably, contract revenue is recognised by reference to value of works performed under the contract to date as assessed by internal valuers, whose valuations are then certified by the customer. This is in line with the surveys of work done approach for revenue recognition under the percentage of completion method under FRS 102 s23.21.
For shorter term contracts, revenue is recognised on completion of the contract.
Revenue in respect of variations to contracts is recognised when there is an enforceable right to payment and it is highly probably it will be agreed by the customer.

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.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

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 reporting 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 reporting 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 reporting date.

2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other 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.

2.11

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 4


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.11

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery	-	25% straight line
Motor vehicles	-	25% straight line
Fixtures and fittings	-	25% straight line
Computer equipment	-	33% straight line

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.

2.12

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.

2.13

Amounts recoverable on long term contracts

Amounts recoverable on long term contracts represents the work completed at the balance sheet date that is not invoiced. This is in line with the revenue recognition policy as described in note 2.3 and the judgements noted in note 3.

2.14

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.

2.15

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.

2.16

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.

Page 5


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

2.18

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, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects on that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Sources of estimation uncertainty
Valuation of amounts recoverable on long term contracts
Included within debtors are amounts in relation to work completed on long term contracts. Management have reviewed each project in turn and assessed the costs involved and the likely recoverability of those costs using their experience of the market and judgement of the conditions prevailing during the works. The amounts recorded in the books are those amounts that management feel are fully recoverable.

Page 6


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Employees	56	51

5.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2024	95,000
	At 31 March 2025	95,000
	Amortisation
	At 1 April 2024	95,000
	At 31 March 2025	95,000
	Net book value
	At 31 March 2025	-
	At 31 March 2024	-

Page 7


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Tangible fixed assets

	Motor vehicles	Plant and machinery	Computer equipment	Fixtures and fittings	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2024	69,746	30,012	108,368	222,889	431,015
Additions	-	2,929	36,923	515	40,367
Disposals	(3,000)	-	(2,623)	-	(5,623)
At 31 March 2025	66,746	32,941	142,668	223,404	465,759
Depreciation
At 1 April 2024	20,622	20,007	75,840	199,857	316,326
Charge for the year on owned assets	15,875	7,967	21,422	17,160	62,424
Disposals	(500)	-	(1,713)	-	(2,213)
At 31 March 2025	35,997	27,974	95,549	217,017	376,537
Net book value
At 31 March 2025	30,749	4,967	47,119	6,387	89,222
At 31 March 2024	49,124	10,005	32,528	23,032	114,689

Debtors

						As restated
					2025	2024
					£	£


Trade debtors	1,924,313	2,128,715
Amounts owed by group undertakings	558,382	-
Other debtors	104,177	255,554
Prepayments and accrued income	148,308	67,897
Amounts recoverable on long-term contracts	337,242	522,844
	3,072,422	2,975,010

Page 8


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Bank overdrafts	26,868	8,965
Trade creditors	1,111,478	675,196
Amounts owed to group undertakings	-	257,652
Other taxation and social security	427,802	583,615
Obligations under finance lease and hire purchase contracts	23,136	39,062
Other creditors	3,084	-
Accruals and deferred income	611,645	747,987
	2,204,013	2,312,477

9.	Deferred taxation

		2025
		£

	At beginning of year	(20,775)
	Charged to profit or loss	14,135
	At end of year	(6,640)

	The provision for deferred taxation is made up as follows:
					2025
					£

	Accelerated capital allowances	(6,640)
		(6,640)

Page 9


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10.	Prior year adjustment
	The prior year figures have been restated to correct the amounts recoverable and accruals positions in relation to long term contracts. This resulted in a decrease in profit generated of £440,348. The impact of the adjustment and reclassification on the reported Balance Sheet is as follows:
		As previously stated 2024	Impact of adjustment	As restated 2024
		£	£	£


Stocks	765,297	(765,297)
Debtors: amounts falling due within one year	2,452,166	522,844	2,975,010
Creditors: amounts falling due within one year	(2,114,582)	(197,895)	(2,312,477)
Net assets	2,403,313	(440,348)	1,962,965
Profit and loss account	(2,403,213)	440,348	(1,962,865)

Not later than 1 year	95,961	73,924
Later than 1 year and not later than 5 years	195,806	210,886
Later than 5 years	359,667	400,000
	651,434	684,810

12.

Related party transactions

The company has traded with Littlefields Supplies Limited, a related company through common ownership.
During the year, the company made sales to Littlefields Supplies Limited totalling £5,330 (2024: £nil) and purchases from Littlefields Supplies Limited totalling £230,055 (2024: £25,982).
At the year end, the company was owed £2,520 by Littlefields Supplies Limited (2024: £nil), and owed £134,751 to Littlefields Supplies Limited (2024: £nil).
All transactions were conducted at arm’s length and settled under normal commercial terms.

Page 10


MCANDREW MARTIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

13.	Controlling party

The company is a 100% subsidary of McAndrew Bidco Limited.
The ultimate controling party is McAndrew Holdco Limited incorporated in England and Wales. McAndrew Holdco Limited creates both the largest and smallest group undertaking in which accounts are drawn up. The registered office is 119 Parkroad, Chandlers Ford, Eastleigh, Hampshire, SO53 1HX.
The consolidated accounts, in which this entity is included, can be found at Companies House, Crown Way, Cardiff, CF14 3UZ.

14.	Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 25 September 2025 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 11