REGISTERED NUMBER: 11158878 (England and Wales)

Financial Statements for the Year Ended 31 January 2025

for

McCartney Arts Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTOR:

J McCartney

REGISTERED OFFICE:

Lawford Hall Farmhouse

Church Hill

Lawford

Manningtree

Essex

CO11 2JX

REGISTERED NUMBER:

11158878 (England and Wales)

ACCOUNTANTS:

Wood & Associates LLP

Chartered Certified Accountants

Maritime House

Basin Road North

Hove

East Sussex

BN41 1WR

FIXED ASSETS

Intangible assets

4

17,935

23,914

Tangible assets

5

4,228

6,494

Investments

6

3,292

2,392

25,455

32,800

CURRENT ASSETS

Stocks

29,819

11,224

Debtors

7

41,190

39,430

Cash at bank and in hand

36,502

99,609

107,511

150,263

CREDITORS

Amounts falling due within one year

8

23,537

69,751

NET CURRENT ASSETS

83,974

80,512

TOTAL ASSETS LESS CURRENT LIABILITIES

109,429

113,312

CREDITORS

Amounts falling due after more than one year

9

(14,856

)

(18,969

)

PROVISIONS FOR LIABILITIES

10

(803

)

(1,120

)

NET ASSETS

93,770

93,223

CAPITAL AND RESERVES

Called up share capital

11

100

100

Share premium

12

84,016

84,016

Retained earnings

12

9,654

9,107

SHAREHOLDERS' FUNDS

93,770

93,223

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 31 October 2025 and were signed by:

J McCartney - Director

1.	STATUTORY INFORMATION

McCartney Arts Ltd 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.

Turnover

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. 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 or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

59,785

AMORTISATION

At 1 February 2024

35,871

Charge for year

5,979

At 31 January 2025

41,850

NET BOOK VALUE

At 31 January 2025

17,935

At 31 January 2024

23,914

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

14,109

Additions

247

At 31 January 2025

14,356

DEPRECIATION

At 1 February 2024

7,615

Charge for year

2,513

At 31 January 2025

10,128

NET BOOK VALUE

At 31 January 2025

4,228

At 31 January 2024

6,494

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2024

2,392

Additions

900

At 31 January 2025

3,292

NET BOOK VALUE

At 31 January 2025

3,292

At 31 January 2024

2,392

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

18,261

27,490

Other debtors

22,929

11,940

41,190

39,430

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

7,400

7,400

Trade creditors

2,978

6,415

Taxation and social security

11,959

20,565

Other creditors

1,200

35,371

23,537

69,751

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

14,856

18,969

10.	PROVISIONS FOR LIABILITIES

31.1.25

31.1.24

£

£

Deferred tax

803

1,120

Deferred

tax

£

Balance at 1 February 2024

1,120

Decrease in capital allowances

in excess of depreciation

(317

)

Balance at 31 January 2025

803

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 February 2024

9,107

84,016

93,123

Profit for the year

31,322

31,322

Dividends

(30,775

)

(30,775

)

At 31 January 2025

9,654

84,016

93,670

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25

31.1.24

£

£

J McCartney

Balance outstanding at start of year

8,545

-

Amounts advanced

7,422

8,545

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,967

8,545

14.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,775 (2024 - £37,000) were paid to the director .

The director, J McCartney, was the controlling party throughout the current year.

As at 31 January 2025 J McCartney owed the company £15,967 (2024 £8,545). This was the maximum balance owing during the year. Interest at 2.5% was charged on the loan..

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2025 set out on pages one to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wood & Associates LLP

Chartered Certified Accountants

Maritime House

Basin Road North

Hove

East Sussex

BN41 1WR

31 October 2025