ACCOUNTS - Final Accounts preparation

Company registration number: 15280893

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	MCANDREW BIDCO LTD


MCANDREW BIDCO LTD

COMPANY INFORMATION

Directors	D G Huse
	J M Marshall (appointed 28 March 2024)


Registered number	15280893


Registered office	119 Park Road
	Chandler's Ford
	Eastleigh
	Hampshire
	SO53 1HX


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


MCANDREW BIDCO LTD

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


MCANDREW BIDCO LTD REGISTERED NUMBER:15280893

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		6,957,965		6,958,065
			6,957,965		6,958,065
Current assets
Debtors: amounts falling due within one year	5	124,404		295,453
Cash at bank and in hand		24,038		324,700
		148,442		620,153
Creditors: amounts falling due within one year	6	(3,412,381)		(838,252)
Net current liabilities			(3,263,939)		(218,099)
Total assets less current liabilities			3,694,026		6,739,966
Creditors: amounts falling due after more than one year	7		(4,329,306)		(7,027,450)

Net liabilities			(635,280)		(287,484)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(635,281)	(287,485)
	(635,280)	(287,484)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement 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 5 form part of these financial statements.

Page 1


MCANDREW BIDCO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

McAndrew Bidco Limited is a private company limited by shares incorporated in England and Wales. The address of it's registered office is disclosed 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

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.

2.3

Borrowing costs

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

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2


MCANDREW BIDCO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

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.

2.6

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.

2.7

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 1).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	6,958,065
	Disposals	(100)
	At 31 March 2025	6,957,965

Page 3


MCANDREW BIDCO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Amounts owed by group undertakings	124,404	295,452
Other debtors	-	1
	124,404	295,453

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	2,919,999	380,000
Amounts owed to group undertakings	558,382	-
Loan arrangement fees	(66,000)	-
Accruals and deferred income	-	458,252
	3,412,381	838,252

As at the balance sheet date, the loans are classified as repayable on demand due to technical breaches around the covenants attached to the loan. On the 30 April 2025 the bank supplied a waiver letter to cover the breach meaning that the loan is repayable on its original terms of 5 years.

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	-	2,920,000
Amounts owed to group undertakings	4,329,306	4,107,450
	4,329,306	7,027,450

8.	Controlling party

The company is a 100% subsidary of McAndrew Holdco 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.

Page 4


MCANDREW BIDCO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	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 5