Registration number: 15587018

McMillan Financial Advice Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

McMillan Financial Advice Limited

Company Information

Directors

Mr J Fry Mr G Bristowe Mr V Deb Mr C Beck Mrs N M Beck Mrs S Deb Mrs N Bristowe

Registered office

86a High Street Rottingdean Brighton England BN2 7HF

Accountants

Harbour Key Limited Midway House Herrick Way Staverton Cheltenham GL51 6TQ

McMillan Financial Advice Limited

(Registration number: 15587018)
Balance Sheet as at 31 March 2025

	Note	2025 £
Fixed assets
Intangible assets	4	9,074,958
Current assets
Debtors	5	340,356
Cash at bank and in hand		36,713
		377,069
Creditors: Amounts falling due within one year	6	(405,135)
Net current liabilities		(28,066)
Total assets less current liabilities		9,046,892
Creditors: Amounts falling due after more than one year	6	(5,131,084)
Net assets		3,915,808
Capital and reserves
Called up share capital		200
Share premium reserve		3,972,998
Retained earnings		(57,390)
Shareholders' funds		3,915,808

For the financial period ending 31 March 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:
 

......................................... Mr J Fry Director

McMillan Financial Advice Limited

(Registration number: 15587018)
Balance Sheet as at 31 March 2025

......................................... Mr G Bristowe Director

......................................... Mr V Deb Director

......................................... Mr C Beck Director

McMillan Financial Advice Limited

Notes to the Unaudited Financial Statements for the Period from 23 March 2024 to 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
86a High Street
Rottingdean
Brighton
BN2 7HF
England

These financial statements were authorised for issue by the Board on 22 December 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.

The presentational currency of the financial statements is British Pound £, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are round to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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 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.

McMillan Financial Advice Limited

Notes to the Unaudited Financial Statements for the Period from 23 March 2024 to 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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20 years straightline

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 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 company will not be able to collect all amounts due according to the original terms of the receivables.

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 company 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.

McMillan Financial Advice Limited

Notes to the Unaudited Financial Statements for the Period from 23 March 2024 to 31 March 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 Profit and Loss Account 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 company 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 company’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 company 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.

McMillan Financial Advice Limited

Notes to the Unaudited Financial Statements for the Period from 23 March 2024 to 31 March 2025

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the Balance Sheet. The corresponding dividends relating to the liability component are charges as interest in the Profit and Loss Account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction value (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financial transaction. If an arrangement constitutes a financial transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market value of interest for a similar debt instrument.

 Impairment
Asset, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ("CGUs") of which the goodwill is a part. Any impairment in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

McMillan Financial Advice Limited

Notes to the Unaudited Financial Statements for the Period from 23 March 2024 to 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 12.

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
Additions acquired separately	9,112,929	9,112,929
At 31 March 2025	9,112,929	9,112,929
Amortisation
Amortisation charge	37,971	37,971
At 31 March 2025	37,971	37,971
Carrying amount
At 31 March 2025	9,074,958	9,074,958

5

Debtors

Current	Note	2025 £
Trade debtors		282,506
Other debtors	9	57,850
		340,356

McMillan Financial Advice Limited

Notes to the Unaudited Financial Statements for the Period from 23 March 2024 to 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £
Due within one year
Bank loans and overdrafts	7	210,114
Taxation and social security		5,183
Other creditors		189,838
		405,135

Creditors: amounts falling due after more than one year

	Note	2025 £
Due after one year
Loans and borrowings	7	4,061,822
Other financial liabilities		1,069,262
		5,131,084

Creditors include bank loans repayable by instalments of £3,221,367 due after more than five years.

7	Loans and borrowings

Non-current loans and borrowings

	2025 £
Other borrowings	4,061,822

Current loans and borrowings

	2025 £
Other borrowings	210,114

8	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Loans included in creditors falling due and after more than one year, totalling £4,271,936, are secured on the income generated from the intangible assets to which they relate.

McMillan Financial Advice Limited

Notes to the Unaudited Financial Statements for the Period from 23 March 2024 to 31 March 2025

9	Related party transactions

Transactions with directors

2025	At 23 March 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
No repayment terms or interest charged	-	63,240	(5,390)	57,850