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Company registration number: NI629199
McPolin Financial Services Ltd
Unaudited filleted financial statements
28 February 2025
McPolin Financial Services Ltd
Contents
Statement of financial position
Notes to the financial statements
McPolin Financial Services Ltd
Statement of financial position
28 February 2025

|  |  | 2025 |  |  |  | 2024 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Intangible assets |  | 5 | - |  |  |  | - |  |
Tangible assets |  | 6 | 100,427 |  |  |  | 104,702 |  |
|  |  | ________ |  |  |  | ________ |  |
|  |  |  |  | 100,427 |  |  |  | 104,702
Current assets |  |  |  |  |  |  |  |  |
Debtors |  | 7 | 198,865 |  |  |  | 186,340 |  |
Cash at bank and in hand |  |  | 6 |  |  |  | 5,151 |  |
|  |  | ________ |  |  |  | ________ |  |
|  |  | 198,871 |  |  |  | 191,491 |  |
Creditors - amounts due within one year |  | 8 | ( 40,714) |  |  |  | ( 48,041) |  |
|  |  | ________ |  |  |  | ________ |  |
Net current assets |  |  |  |  | 158,157 |  |  |  | 143,450
|  |  |  |  | ________ |  |  |  | ________
Total assets less current liabilities |  |  |  |  | 258,584 |  |  |  | 248,152
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
after more than one year |  | 9 |  |  | ( 74,051) |  |  |  | ( 78,940)
Provisions for liabilities |  |  |  |  | ( 271) |  |  |  | ( 665)
|  |  |  |  | ________ |  |  |  | ________
Net assets |  |  |  |  | 184,262 |  |  |  | 168,547
|  |  |  |  | ________ |  |  |  | ________
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 1,000 |  |  |  | 1,000
Profit and loss account |  |  |  |  | 183,262 |  |  |  | 167,547
|  |  |  |  | ________ |  |  |  | ________
Shareholders funds |  |  |  |  | 184,262 |  |  |  | 168,547
|  |  |  |  | ________ |  |  |  | ________
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |  |  |  |  |  |  |  |  |
Directors responsibilities: |  |  |  |  |  |  |  |  |
- | The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; |  |  |  |  |  |  |  |
- | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. |  |  |  |  |  |  |  |
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |  |  |  |  |  |  |  |  |
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered. |  |  |  |  |  |  |  |  |
These financial statements were approved by the board of directors and authorised for issue on 01 April 2025 , and are signed on behalf of the board by: |  |  |  |  |  |  |  |  |
Mr John Martin McPolin |  |  |  |  |  |  |  |  |
Director |  |  |  |  |  |  |  |  |
Company registration number: NI629199 |  |  |  |  |  |  |  |  |

McPolin Financial Services Ltd
Notes to the financial statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 37 Church Square, Banbridge, Co Down, BT32 4AP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
Current tax is recognised on taxable profit for the current and past periods. It is measured at the amount expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. Deferred tax assets and liabilities recognised have not been discounted.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
The tangible fixed assets are recorded at their purchase cost, together with any incidental costs of acquisition less accumulated depreciation and impairment losses.
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event; it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Financial instruments
The fair values of the company's financial assets, cash and cash equivalents and financial liabilities are assumed to approximate to their book value. The company does not enter into derivative financial instruments.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).
5. Intangible assets

|  | Goodwill | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 29 February 2024 and 28 February 2025 | 100,000 | 100,000 |  |  |  |
|  | ________ | ________ |  |  |  |
| Amortisation |  |  |  |  |  |
| At 29 February 2024 and 28 February 2025 | 100,000 | 100,000 |  |  |  |
|  | ________ | ________ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 28 February 2025 | - | - |  |  |  |
|  | ________ | ________ |  |  |  |
| At 28 February 2024 | - | - |  |  |  |
|  | ________ | ________ |  |  |  |

6. Tangible assets

|  | Freehold property | Fixtures, fittings and equipment | Total |  |  |  |
|  | £ | £ | £ |  |  |  |
| Cost |  |  |  |  |  |  |
| At 29 February 2024 and 28 February 2025 | 110,000 | 18,433 | 128,433 |  |  |  |
|  | ________ | ________ | ________ |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 29 February 2024 | 8,800 | 14,931 | 23,731 |  |  |  |
| Charge for the year | 2,200 | 2,075 | 4,275 |  |  |  |
|  | ________ | ________ | ________ |  |  |  |
| At 28 February 2025 | 11,000 | 17,006 | 28,006 |  |  |  |
|  | ________ | ________ | ________ |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 28 February 2025 | 99,000 | 1,427 | 100,427 |  |  |  |
|  | ________ | ________ | ________ |  |  |  |
| At 28 February 2024 | 101,200 | 3,502 | 104,702 |  |  |  |
|  | ________ | ________ | ________ |  |  |  |

7. Debtors

|  |  | 2025 | 2024
|  |  | £ | £
| Other debtors |  | 198,865 | 186,340
|  |  | ________ | ________

8. Creditors: amounts falling due within one year

|  |  | 2025 | 2024
|  |  | £ | £
| Bank loans and overdrafts |  | 15,638 | 12,424
| Corporation tax |  | 12,894 | 24,939
| Social security and other taxes |  | 3,545 | 4,095
| Other creditors |  | 8,637 | 6,583
|  |  | ________ | ________
|  |  | 40,714 | 48,041
|  |  | ________ | ________

9. Creditors: amounts falling due after more than one year

|  |  | 2025 | 2024
|  |  | £ | £
| Bank loans and overdrafts |  | 74,051 | 78,940
|  |  | ________ | ________

10. Directors advances, credits and guarantees
At the year end the company was owed £149,222 (2024 - £136,697) by its director. This loan was interest free and has no fixed date for repayment.
11. Controlling party
The company is controlled by J McPolin who owns the entire share capital.