Registration number: NI058074

McErlean Associates Limited

(Registration number: NI058074)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	95,269	123,141
Current assets
Stocks	5	27,945	9,600
Debtors	6	141,013	110,387
Cash at bank and in hand		20,628	112,955
		189,586	232,942
Creditors: Amounts falling due within one year	7	(61,357)	(76,869)
Net current assets		128,229	156,073
Total assets less current liabilities		223,498	279,214
Creditors: Amounts falling due after more than one year	7	(84,197)	(98,084)
Provisions for liabilities		(23,817)	(30,785)
Net assets		115,484	150,345
Capital and reserves
Called up share capital	8	1	1
Retained earnings		115,483	150,344
Shareholders' funds		115,484	150,345

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

McErlean Associates Limited

(Registration number: NI058074)
Balance Sheet as at 31 March 2025

Approved and authorised by the director on 21 November 2025
 

......................................... Dr Paul McErlean Director

McErlean Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 3 Grange Road, Taylorstown, Toomebridge, Co. Antrim,
BT41 3QE.

These financial statements were authorised for issue by the director on 21 November 2025.

2	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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Group accounts not prepared

The company has taken advantage of the exemption under Section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

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 company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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 tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 company operates and generates taxable income.

McErlean Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

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.

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:

Asset class	Depreciation method and rate
Office equipment	15% reducing balance
Plant and machinery	20% reducing balance
Motor Vehicles	25% reducing balance

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.

Short-term debtors and creditors

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 income
statement in operating expenses.

Stocks and work in progress

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.

McErlean Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2024 - 10).

4	Tangible assets

	Plant and machinery £	Motor vehicles  £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	144,973	35,040	28,198	208,211
Additions	-	38,415	-	38,415
Disposals	-	(42,815)	-	(42,815)
At 31 March 2025	144,973	30,640	28,198	203,811
Depreciation
At 1 April 2024	47,423	18,540	19,107	85,070
Charge for the year	19,510	7,415	6,862	33,787
Eliminated on disposal	-	(10,315)	-	(10,315)
At 31 March 2025	66,933	15,640	25,969	108,542
Carrying amount
At 31 March 2025	78,040	15,000	2,229	95,269
At 31 March 2024	97,550	16,500	9,091	123,141

Revaluation

The fair value of the company's assets was revalued on 31st March 2024.

McErlean Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Stocks and work in progress

	2025 £	2024 £
Work in progress	27,945	9,600

6

Debtors

	2025 £	2024 £
Trade debtors	129,276	97,513
Other debtors	500	-
Prepayments	11,237	12,874
	141,013	110,387

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	5,000	7,506
Taxation and social security		47,711	40,196
Accruals and deferred income		8,646	29,167
		61,357	76,869

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

McErlean Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Loans and borrowings

	2025 £	2024 £
Non-current loans and borrowings
Bank borrowings	24,954	29,900
HP and finance lease liabilities	-	663
Directors loan account	59,243	67,521
	84,197	98,084

	2025 £	2024 £
Current loans and borrowings
Bank borrowings	5,000	5,000
HP and finance lease liabilities	-	2,506
	5,000	7,506

10	Related party transactions

The following balance was owed to the director at the year end:

	31 March 2025  £	31 March 2024  £
Directors current account	59,243	67,521