Registration number:
McCausland (Holdings) Limited
for the Year Ended 30 June 2025
McCausland (Holdings) Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Independent Auditor's Report |
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Statement of Comprehensive income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
McCausland (Holdings) Limited
Company Information
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Directors |
Michael McCausland Emma McCausland Peter McCausland Christopher McCausland Jonathan McCausland |
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Company secretary |
Christopher McCausland |
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Registered office |
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Solicitors |
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Bankers |
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Auditors |
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Company number |
NI003648 |
McCausland (Holdings) Limited
Strategic Report for the Year Ended 30 June 2025
The directors present their strategic report for the year ended 30 June 2025.
Principal activity
The principal activity of the company is the sale of cars to taxi drivers.
Fair review of the business
The directors aim to present a balanced and comprehensive review of the development and performance of the company during the year and its position as at 30 June 2025. This review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties it faces.
The directors are pleased with the company results for the year. The directors continue to identify opportunities to increase turnover and continue to monitor and reduce costs where possible. The directors anticipate higher volumes of trade in relation to the company's continuing activities, and are hopeful of maintaining market share.
Principal risks and uncertainties
The key risks and uncertainties affecting the company are considered to relate to competition from other businesses, employee retention, product availability and the general downturn in customer spending due to carefully manage the business.
Financial key performance indicators
The directors consider that the key performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross margin, operating profit and net assets.
There has been an increase in turnover of 9% from £10.2m to £10.9m. The gross profit margin has reduced from 2.52% in 2024 to 2.13% in 2025.
The company had a profit before tax for the year of £51,718 compared to a profit before tax of £80,120 in 2024.
The net assets have decreased from £8.9m in 2024 to £8.7m in 2025.
Approved and authorised by the
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McCausland (Holdings) Limited
Directors' Report for the Year Ended 30 June 2025
The directors present their report and the financial statements for the year ended 30 June 2025.
Directors of the company
The directors who held office during the year were as follows:
Statement of director's responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal activity
The principal activity of the company is that of vehicle sales.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
McCausland (Holdings) Limited
Directors' Report for the Year Ended 30 June 2025
Approved and authorised by the
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McCausland (Holdings) Limited
Independent Auditor's Report to the Members of McCausland (Holdings) Limited
Opinion
We have audited the financial statements of McCausland (Holdings) Limited (the 'company') for the year ended 30 June 2025, which comprise the Statement of Comprehensive income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
McCausland (Holdings) Limited
Independent Auditor's Report to the Members of McCausland (Holdings) Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We identified areas of laws and regulations that could reasonably be expected to have a
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We had regard to laws and regulations in areas that directly affect the financial statements
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McCausland (Holdings) Limited
Independent Auditor's Report to the Members of McCausland (Holdings) Limited
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With the exception of any known or possible non-compliance, and as required by auditing
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We communicated applicable laws and regulations throughout our audit team and remained
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We addressed the risk of fraud through management override of controls, by testing the
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Our audit procedures were designed to respond to risks of material misstatement in the
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A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Linenhall Exchange
26 Linenhall Street
BT2 8BG
McCausland (Holdings) Limited
Statement of Comprehensive income for the Year Ended 30 June 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
371,034 |
413,647 |
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
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Tax on profit |
( |
- |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
McCausland (Holdings) Limited
(Registration number: NI003648)
Balance Sheet as at 30 June 2025
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Note |
2025 |
2024 |
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Fixed Assets |
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Tangible assets |
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Investments |
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Non-current Assets |
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Other debtors |
10,092,246 |
10,919,138 |
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Current assets |
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Stocks |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
7,600 |
7,600 |
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Retained earnings |
8,688,590 |
8,912,014 |
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Shareholders' funds |
8,696,190 |
8,919,614 |
Approved and authorised by the
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McCausland (Holdings) Limited
Statement of Changes in Equity for the Year Ended 30 June 2025
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Share capital |
Retained earnings |
Total |
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At 1 July 2024 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 30 June 2025 |
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Share capital |
Retained earnings |
Total |
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At 1 July 2023 |
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Profit for the year |
- |
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At 30 June 2024 |
7,600 |
8,912,014 |
8,919,614 |
McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
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General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
Northern Ireland
The presentation currency is £ Sterling and the level of rounding is to the nearest £.
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Cash flow statement exemption
The company has taken advantage of the exemption under FRS 102.1.12 from preparing a cash flow statement in these individual financial statements. This is because the company is a qualifying subsidiary of McCausland Group Limited, whose consolidated financial statements include a cash flow statement and publicly available. |
Going concern
The financial statements have been prepared on a going concern basis.
Judgements
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:
Fixed assets
Fixed assets The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity; and
Specific criteria have been met for each of the company's activities.
Tax
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 group operates and generates taxable income.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
15% - 50% reducing balance |
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Fixtures and fittings |
20% - 50% reducing balance |
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Motor vehicles |
10% - 50% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
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2025 |
2024 |
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Sale of goods |
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Leasing of equipment |
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Operating profit |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
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Interest payable and similar expenses |
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2025 |
2024 |
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Interest on bank overdrafts and borrowings |
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Interest on obligations under finance leases and hire purchase contracts |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2025 |
2024 |
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Wages and salaries |
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Social security costs |
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Pension costs, defined contribution scheme |
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There are 2 average number of persons employed by the company (including directors) during the year.
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2025 |
2024 |
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Distribution |
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Other departments |
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Directors' remuneration |
The directors' remuneration for the year was as follows:
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2025 |
2024 |
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Remuneration |
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Auditors' remuneration |
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2025 |
2024 |
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Audit of the financial statements |
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McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
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Taxation |
Tax charged/(credited) in the statement of comprehensive income
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2025 |
2024 |
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Current taxation |
||
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UK corporation tax |
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- |
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Tangible assets |
|
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2024 |
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Additions |
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- |
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At 30 June 2025 |
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Depreciation |
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At 1 July 2024 |
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Charge for the year |
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At 30 June 2025 |
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Carrying amount |
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At 30 June 2025 |
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At 30 June 2024 |
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Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings.
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Investments |
|
2025 |
2024 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 July 2024 |
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Provision |
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Carrying amount |
|
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At 30 June 2025 |
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At 30 June 2024 |
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McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2025 |
2024 |
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Subsidiary undertakings |
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33-35 Grosvenor Road
Northern Ireland |
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Subsidiary undertakings |
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Value Car Parks Ltd. The principal activity of Value Car Parks Ltd. is |
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Stocks |
|
2025 |
2024 |
|
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Other inventories |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
|
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Other debtors |
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Prepayments |
|
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Non-current |
Note |
2025 |
2024 |
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Amounts owed by related parties |
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Other debtors |
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McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
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Creditors |
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Note |
2025 |
2024 |
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Due within one year |
|||
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Loans and borrowings |
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Trade creditors |
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Other payables |
|
- |
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Accruals |
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Taxation and social security |
51,674 |
4,297 |
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Due after one year |
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Loans and borrowings |
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Amount owed to group undertakings |
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Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
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No. |
£ |
No. |
£ |
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7,600 |
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7,600 |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Hire purchase contracts |
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Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Bank overdrafts |
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Hire purchase contracts |
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McCausland (Holdings) Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
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Related party transactions |
The Company has taken advantage of the exemption in section 33.1A of FRS 102 from disclosing transactions with entities that are wholly owned within the same group. This exemption applies as the company is wholly owned subsidiary of McCausland Group Limited, and its results are included in the consolidated financial statements of the parent, which are publicly available.
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Relationship between entity and parents |
During the year, a group restructuring was carried out, resulting in McCausland Group Limited becoming the new parent company of the group. Following this restructure, Mr. Christopher McCausland is considered the ultimate controlling party.
The parent of the largest group in which these financial statements are consolidated is