McCaffery Financial Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09062555 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31st May 2025

for

McCaffery Financial Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G McCaffery

Mrs P McCaffery

REGISTERED OFFICE:

7 Cliffe Court

Sunderland

Tyne and Wear

SR6 9NT

REGISTERED NUMBER:

09062555 (England and Wales)

ACCOUNTANTS:

F E Metcalfe & Co Limited

Chartered Accountants

4 Old Market Place

Ripon

North Yorkshire

HG4 1EQ

FIXED ASSETS

Tangible assets

4

1,629

574

CURRENT ASSETS

Debtors

5

464,319

428,220

Investments

6

2,564,346

2,791,664

Cash at bank

1,071,305

1,031,074

4,099,970

4,250,958

CREDITORS

Amounts falling due within one year

7

1,780,762

1,912,530

NET CURRENT ASSETS

2,319,208

2,338,428

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,320,837

2,339,002

CAPITAL AND RESERVES

Called up share capital

8

950,007

Retained earnings

1,370,830

1,388,995

SHAREHOLDERS' FUNDS

2,320,837

2,339,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th September 2025 and were signed on its behalf by:

G McCaffery - Director

1.	STATUTORY INFORMATION

McCaffery Financial 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

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.

The financial statements are presented in sterling which is the presentation currency of the company and are rounded to the nearest £.

Turnover

Turnover represents participation fees due to the company. No value added tax is due on the participation fees. Where participation fees are due to the company but there are specific risks that could result in the participation fees due not being received by the company then the full value of the participation fees contractually due are recognised in turnover and a specific provision is recognised in the profit and loss account as a cost item.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write-off each asset over its estimated useful life:

Computer equipment - 25% straight-line.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

On 24th December 2014 the company made an election to change its functional currency for tax purposes to US Dollars. Therefore, the company has excluded any US Dollar gains and losses from the profits chargeable to corporation tax from 24th December 2014

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Listed investments

Listed Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss.

Foreign currencies

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Debtors and creditors/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.

Loans, participations and borrowings

Loans, participations and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st June 2024

599

Additions

1,257

At 31st May 2025

1,856

DEPRECIATION

At 1st June 2024

25

Charge for year

202

At 31st May 2025

227

NET BOOK VALUE

At 31st May 2025

1,629

At 31st May 2024

574

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

Trade debtors

340,229

336,711

Other debtors

89,807

91,509

Directors' current accounts

34,283

-

464,319

428,220

6.	CURRENT ASSET INVESTMENTS

31.5.25

31.5.24

£

Listed investments

2,156,930

2,188,701

Note receivable Crown Financial

407,416

602,963

2,564,346

2,791,664

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

Other loans

1,741,552

1,862,407

Loan from S.McCaffery

7,738

13,648

Other creditors

4,234

2,656

Corporation Tax

4,000

3,539

Directors' current accounts

-

545

Accrued expenses

23,238

29,735

1,780,762

1,912,530

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.25

31.5.24

value:

£

1,000

Ordinary

£1

1,000

949,007

Redeemable Ordinary shares

£1

949,007

950,007

The Redeemable Ordinary Shares have no rights to voting and dividend, the shares have full and equal rights to capital distribution,and may be redeemed at par at the option of the company.

9.	RELATED PARTY DISCLOSURES

The liability of £1,741,552 (2024: £1,862,407) disclosed as Other loans due within one year is comprised of a loan of $345,000 from Compass Personnel Services Inc and a loan of $2,000,000 from McCaffery Family Limited Partnership. One of the directors of the company and the controlling shareholder is also the controlling shareholder of Compass Personnel Services Inc. The directors and shareholders of the company are also the Managing General Partner and a Partner of McCaffery Family Limited Partnership. Interest on the loan with Compass Personnel Services Inc has been charged at 4.2%. Interest on the loan from McCaffery Family Partnership Limited has been waived for the year ended 31 May 2025.

10.	POST BALANCE SHEET EVENTS

On 24th September 2025 a Notice of Redemption of shares was delivered to the holder of the redeemable shares. The Notice stated that the directors of the company had approved the redemption of 800,000 redeemable shares. The shares are due to be redeemed at £1.00 per share as a repayment of capital that is to be financed using the company's distributable profits. The redemption date is due to be the 25th October 2025.