Registration number: NI663164

McCausland Group Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Independent Auditor's Report	4 to 6
Consolidated Statement of Comprehensive Income	7
Consolidated Balance Sheet	8
Balance Sheet	9
Consolidated Statement of Changes in Equity	10
Statement of Changes in Equity	11
Consolidated Statement of Cash Flows	12
Statement of Cash Flows	13
Notes to the Financial Statements	14 to 26

McCausland Group Limited

Company Information

Directors

Michael McCausland Jonathan McCausland Emma McCausland Christopher McCausland Peter McCausland

Company secretary

Christopher McCausland

Registered office

33-35 Grosvenor Road Belfast BT12 4GR

Solicitors

Mills Selig 21 Arthur Street Belfast BT1 4GA

Bankers

Danske Bank Corporate Banking Donegall Square West Belfast BT1 6JS

Auditors

RBCA Limited Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG

McCausland Group 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 that of a non-trading holding company.

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.

During the year the company acquired the entire share capital of McCausland (Holdings) Limited in December 2024 and the entire share capital of Titanic Cabs Ltd in May 2025. These are the first set of consolidated financial statements of the group.

The directors are pleased with the group 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 group'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 and the general downturn in customer spending. The directors carefully manage these key business risks.

Financial key performance indicators

The directors consider that the key performance indicators are those that communicate the financial performance and strength of the group as a whole, these being turnover, gross margin, operating profit and net assets.

Turnover for the year was £12.3m. The gross profit margin for the year was 50.46%.

The group had a profit before tax for the year of £2,082,218.

The net assets for the year were £17,108,202.

The consolidated financial statements present the results of the company and its subsidiaries for the year ended 30 June 2025. No consolidated financial statements were prepared for the prior year as the group did not previously prepare the consolidated accounts. Accordingly, the comparative information relates to the company only.

Approved and authorised by the Board on 14 October 2025 and signed on its behalf by:
 

......................................... Christopher McCausland Company secretary and director

McCausland Group Limited

Directors' Report for the Year Ended 30 June 2025

The directors present their report and the for the year ended 30 June 2025.

Directors of the group

The directors who held office during the year were as follows:

Michael McCausland

Jonathan McCausland

Emma McCausland

Christopher McCausland - Company secretary and director

Peter McCausland

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:
 

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	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.

Disclosure of information to the auditor

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 auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Approved and authorised by the Board on 14 October 2025 and signed on its behalf by:
 

......................................... Christopher McCausland Company secretary and director

McCausland Group Limited

Independent Auditor's Report to the Members of McCausland Group Limited

Opinion

We have audited the financial statements of McCausland Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025, which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, 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 group's and the parent company's affairs as at 30 June 2025 and of the group's 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 group 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.

Other matters

The financial statements of the Company and the Group for the year ended 30 June 2024 were not audited, and we have not audited the comparative financial information for 2024 contained within these financial statements.

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 group'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.

McCausland Group Limited

Independent Auditor's Report to the Members of McCausland Group Limited

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.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	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

•	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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
•	the parent company 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, 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.

McCausland Group Limited

Independent Auditor's Report to the Members of McCausland Group Limited

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•	We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Directors and other management (as required by auditing standards).
•	We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.
•	With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Directors.
•	We communicated applicable laws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit.
•	We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries, and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential basis; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
•	Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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.

......................................
Brian Stewart (Senior Statutory Auditor)
For and on behalf of RBCA Limited, Statutory Auditor
 Linenhall Exchange
26 Linenhall Street
Belfast
BT2 8BG

14 October 2025

McCausland Group Limited

Consolidated Statement of Comprehensive Income for the Year Ended 30 June 2025

	Note	2025 £ (Group)	2024 £ (Company)
Turnover	3	12,318,977	-
Cost of sales		(6,102,248)	-
Gross profit		6,216,729	-
Administrative expenses		(3,820,786)	(89)
Other operating income	4	326,615	200,000
Operating profit	6	2,722,558	199,911
Interest payable and similar expenses	7	(667,994)	-
Profit before tax		2,054,564	199,911
Tax on profit	11	(375,190)	-
Profit for the financial year		1,679,374	199,911

The above results were derived from continuing operations.

The group has no recognised gains or losses for the year other than the results above.

McCausland Group Limited

(Registration number: NI663164)
Consolidated Balance Sheet as at 30 June 2025

	Note	2025 £ (Group)	2024 £ (Company)
Fixed assets
Intangible assets	12	535,625	-
Tangible assets	13	27,676,073	-
Investments	14	-	7,035,171
		28,211,698	7,035,171
Non current assets
Other debtors	16	3,242,246	-
Current assets
Stocks	15	3,384,695	-
Debtors	16	4,303,744	-
Cash at bank and in hand		561,193	16,354
		8,249,632	16,354
Creditors: Amounts falling due within one year	18	(7,255,950)	(200,000)
Net current assets/(liabilities)		4,235,928	(183,646)
Total assets less current liabilities		32,447,626	6,851,525
Creditors: Amounts falling due after more than one year	18	(15,163,108)	(309,789)
Provisions for liabilities		(176,316)	-
Net assets		17,108,202	6,541,736
Capital and reserves
Called up share capital	20	6,047	59
Share premium reserve		5,507,000	5,507,000
Capital redemption reserve		(316,550)	-
Revaluation reserve		4,636,820	-
Retained earnings		7,274,885	1,034,677
Shareholders' funds		17,108,202	6,541,736

Approved and authorised by the Board on 14 October 2025 and signed on its behalf by:
 

......................................... Christopher McCausland Company secretary and director

McCausland Group Limited

(Registration number: NI663164)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Investments	14	15,175,764	7,035,171
Current assets
Cash at bank and in hand		16,269	16,354
Creditors: Amounts falling due within one year	18	(308,210)	(200,000)
Net current liabilities		(291,941)	(183,646)
Total assets less current liabilities		14,883,823	6,851,525
Creditors: Amounts falling due after more than one year	18	(1,609,793)	(309,789)
Net assets		13,274,030	6,541,736
Capital and reserves
Called up share capital	20	6,047	59
Share premium reserve		11,789,130	5,507,000
Retained earnings		1,478,853	1,034,677
Shareholders' funds		13,274,030	6,541,736

The company made a profit after tax for the financial year of £444,176 (2024 - profit of £199,911).

Approved and authorised by the Board on 14 October 2025 and signed on its behalf by:
 

......................................... Christopher McCausland Company secretary and director

McCausland Group Limited

Statement of Changes in Equity for the Year Ended 30 June 2025

	Share capital £	Share premium £	Retained earnings £	Total £
At 1 July 2024	59	5,507,000	1,034,677	6,541,736
Profit for the year	-	-	444,176	444,176
New share capital subscribed	5,988	6,282,130	-	6,288,118
At 30 June 2025	6,047	11,789,130	1,478,853	13,274,030