Company Registration No. 02339960 (England and Wales)
McCarthy Taylor Systems Limited
Unaudited accounts
for the year ended 31 July 2025
McCarthy Taylor Systems Limited
Unaudited accounts
Contents
McCarthy Taylor Systems Limited
Company Information
for the year ended 31 July 2025
Directors
Bryan Taylor
Lye Taylor
Company Number
02339960 (England and Wales)
Registered Office
AERIAL VIEW ACORN HOUSE
SHAB HILL
BIRDLIP
GLOS
GL4 8JX
Accountants
MAB Accountancy Hub Ltd
82 Station Road
Bishops Cleeve
Cheltenham
Gloucestershire
GL52 8HJ
McCarthy Taylor Systems Limited
Statement of financial position
as at 31 July 2025
Tangible assets
17,313
7,332
Cash at bank and in hand
1,208,270
909,602
Creditors: amounts falling due within one year
(521,516)
(489,178)
Net current assets
874,971
616,083
Total assets less current liabilities
892,284
623,415
Provisions for liabilities
Deferred tax
(2,608)
(2,608)
Net assets
889,676
620,807
Called up share capital
1,000
1,000
Profit and loss account
888,676
619,807
Shareholders' funds
889,676
620,807
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2026 and were signed on its behalf by
Bryan Taylor
Director
Company Registration No. 02339960
McCarthy Taylor Systems Limited
Notes to the Accounts
for the year ended 31 July 2025
McCarthy Taylor Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 02339960. The registered office is AERIAL VIEW ACORN HOUSE, SHAB HILL, BIRDLIP, GLOS, GL4 8JX.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10 Years
Computer equipment
3 Years
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill has been fully amortised over its estimated useful life of 5 years.
Patents and Licences have been fully amortised over their estimated useful life of 5 years.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Revenue from the sale of software licences is recognised when the licenses are assigned to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
McCarthy Taylor Systems Limited
Notes to the Accounts
for the year ended 31 July 2025
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Goodwill
Other
Total
At 1 August 2024
25,000
1,875,000
1,900,000
At 31 July 2025
25,000
1,875,000
1,900,000
At 1 August 2024
25,000
1,875,000
1,900,000
At 31 July 2025
25,000
1,875,000
1,900,000
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 August 2024
98,967
24,405
123,372
Additions
5,994
8,464
14,458
Disposals
(1,125)
(254)
(1,379)
At 31 July 2025
103,836
32,615
136,451
At 1 August 2024
96,017
20,023
116,040
Charge for the year
2,890
1,465
4,355
On disposals
(1,125)
(132)
(1,257)
At 31 July 2025
97,782
21,356
119,138
At 31 July 2025
6,054
11,259
17,313
At 31 July 2024
2,950
4,382
7,332
McCarthy Taylor Systems Limited
Notes to the Accounts
for the year ended 31 July 2025
Amounts falling due within one year
Trade debtors
172,440
181,739
Accrued income and prepayments
15,777
13,920
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Creditors: amounts falling due within one year
2025
2024
Trade creditors
14,577
13,551
Taxes and social security
156,764
133,178
Other creditors
5,529
3,959
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
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Transactions with related parties
The company pays rent to a pension scheme in which the which the directors S McCarthy and B Taylor are Trustees. During the year the pension charged the company rent of £27,270 (2024 £27,270).
Brian and Lye Taylor each received dividends during the year amounting to £50,000 (2024 was £200,000 and £65,000 respectively).
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Average number of employees
During the year the average number of employees was 10 (2024: 10).