REGISTERED NUMBER: 02447479 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

McMahon Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P A McMahon

REGISTERED OFFICE:

60 Kingsland Wharves

305 Kingsland Road

London

London

E8 4EG

REGISTERED NUMBER:

02447479 (England and Wales)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Investment property

4

853,000

853,000

CURRENT ASSETS

Debtors

5

9,075

45,236

Cash at bank

31,021

50,404

40,096

95,640

CREDITORS

Amounts falling due within one year

6

839,817

900,009

NET CURRENT LIABILITIES

(799,721

)

(804,369

)

TOTAL ASSETS LESS CURRENT LIABILITIES

53,279

48,631

CAPITAL AND RESERVES

Called up share capital

6,000

6,000

Retained earnings

47,279

42,631

SHAREHOLDERS' FUNDS

53,279

48,631

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

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

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

P A McMahon - Director

1.	STATUTORY INFORMATION

McMahon Associates 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.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Rents received

Rentals receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Investment property

Investment property is measured at fair value, based on an assessment of the open market value for similar assets in a similar condition and location. Where such a measure is unavailable, assets are held at cost less impairment.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

853,000

NET BOOK VALUE

At 31 December 2024

853,000

At 31 December 2023

853,000

The directors have reviewed the value of the property in the current year and determined that the above reflects the fair value at year end.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2022

(116,679

)

Valuation in 2023

40,000

Cost

929,679

853,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

173

-

Other debtors

8,902

45,236

9,075

45,236

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Taxation and social security

315

3,294

Other creditors

839,502

896,715

839,817

900,009

7.	SECURED DEBTS

The trustees of the McMahon Associates Retirement and Death Benefit Scheme hold security over the property held within the company as well as a floating charge over its assets.