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Company No: 03367349 (England and Wales)

# MORRIS HARGREAVES MCINTYRE LIMITED

### Annual Report and Unaudited Financial Statements
For the financial year ended 30 September 2025
Pages for filing with the registrar

MORRIS HARGREAVES MCINTYRE LIMITED

## Annual Report and Unaudited Financial Statements

For the financial year ended 30 September 2025

Contents

MORRIS HARGREAVES MCINTYRE LIMITED

## DIRECTORS' REPORT

For the financial year ended 30 September 2025
MORRIS HARGREAVES MCINTYRE LIMITED

## DIRECTORS' REPORT (continued)

For the financial year ended 30 September 2025

The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 30 September 2025.

DIRECTORS RESPONSIBILITIES

The directors are responsible 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), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. 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 financial period.
In preparing these financial statements, the directors are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and accounting estimates that are reasonable and prudent; 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. The directors 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.

BUSINESS REVIEW

During the year ended 30 September 2025, the Company continued to trade profitably and generated an operating profit before exceptional items of £222,867. The results for the year, however, reflect an exceptional charge of £330,000 arising from the accounting treatment of an intercompany loan write-off in connection with the group restructure. As a result of this non-recurring item, the Company reported a loss for the financial year of £250,401. The directors consider this statutory loss to be non recurrent in nature and not reflective of the underlying trading performance of the

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

J Hargreaves | (Resigned 01 October 2024)
E M James |
A K McIntyre |
M A Tattersall |

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.

Approved by the Board of Directors and signed on its behalf by:

E M James Director |

20 April 2026

MORRIS HARGREAVES MCINTYRE LIMITED

## BALANCE SHEET

As at 30 September 2025
MORRIS HARGREAVES MCINTYRE LIMITED

## BALANCE SHEET (continued)

As at 30 September 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 170,955 |  | 126,370
Tangible assets | 4 | 16,294 |  | 39,249
|  | 187,249 |  | 165,619
Current assets |  |  |  |
Debtors | 5 | 987,070 |  | 1,407,043
Cash at bank and in hand |  | 196,528 |  | 324,954
|  | 1,183,598 |  | 1,731,997
Creditors: amounts falling due within one year | 6 | ( 877,406) |  | ( 1,122,571)
Net current assets |  | 306,192 |  | 609,426
Total assets less current liabilities |  | 493,441 |  | 775,045
Provision for liabilities |  | 0 |  | ( 3,330)
Net assets |  | 493,441 |  | 771,715
Capital and reserves |  |  |  |
Called-up share capital | 7 | 3 |  | 3
Share premium account |  | 30,129 |  | 0
Capital redemption reserve |  | 2 |  | 2
Profit and loss account |  | 463,307 |  | 771,710
Total shareholder's funds |  | 493,441 |  | 771,715

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Morris Hargreaves McIntyre Limited (registered number: 03367349) were approved and authorised for issue by the Board of Directors on 20 April 2026. They were signed on its behalf by:

E M James Director |

MORRIS HARGREAVES MCINTYRE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2025
MORRIS HARGREAVES MCINTYRE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Morris Hargreaves McIntyre Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Colony, 1 Silk Street, Manchester, M4 6LZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
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 financial statements. 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.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software | 5 years straight line

###### Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 7 years straight line
Fixtures and fittings | 15 % reducing balance
Office equipment | 4 - 5 years straight line
Computer equipment | 4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, 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 the Statement of Income and Retained Earnings as described below.

##### Trade and other debtors

Short term debtors are measured at transaction price, less any impairment.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Short term creditors are measured at transactions price.

##### Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilties like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured as cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

##### Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the statement of financial position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the statement of financial position date.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 32 |  | 44

#### 3. Intangible assets

| Computer software |  | Total
| £ |  | £
Cost |  |  |
At 01 October 2024 | 227,603 |  | 227,603
Additions | 85,777 |  | 85,777
At 30 September 2025 | 313,380 |  | 313,380
Accumulated amortisation |  |  |
At 01 October 2024 | 101,233 |  | 101,233
Charge for the financial year | 41,192 |  | 41,192
At 30 September 2025 | 142,425 |  | 142,425
Net book value |  |  |
At 30 September 2025 | 170,955 |  | 170,955
At 30 September 2024 | 126,370 |  | 126,370

#### 4. Tangible assets

| Leasehold improve- ments |  | Fixtures and fittings |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 October 2024 | 89,481 |  | 34,403 |  | 7,828 |  | 94,395 |  | 226,107
Additions | 0 |  | 0 |  | 0 |  | 548 |  | 548
Disposals | ( 89,481) |  | ( 34,403) |  | 0 |  | ( 40,259) |  | ( 164,143)
At 30 September 2025 | 0 |  | 0 |  | 7,828 |  | 54,684 |  | 62,512
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 October 2024 | 88,688 |  | 26,495 |  | 5,373 |  | 66,302 |  | 186,858
Charge for the financial year | 161 |  | 1,186 |  | 1,468 |  | 12,893 |  | 15,708
Disposals | ( 88,849) |  | ( 27,681) |  | 0 |  | ( 39,818) |  | ( 156,348)
At 30 September 2025 | 0 |  | 0 |  | 6,841 |  | 39,377 |  | 46,218
Net book value |  |  |  |  |  |  |  |  |
At 30 September 2025 | 0 |  | 0 |  | 987 |  | 15,307 |  | 16,294
At 30 September 2024 | 793 |  | 7,908 |  | 2,455 |  | 28,093 |  | 39,249

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 451,018 |  | 1,114,049
Amounts owed by Group undertakings | 217,569 |  | 0
Amounts owed by associates | 57,952 |  | 88,184
Corporation tax | 10,125 |  | 1,055
Other debtors | 250,406 |  | 203,755
| 987,070 |  | 1,407,043

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 151,541 |  | 171,689
Amounts owed to Group undertakings | 0 |  | 75,266
Accruals | 205,519 |  | 220,816
Taxation and social security | 84,846 |  | 89,237
Payments received on account | 404,090 |  | 539,282
Other creditors | 31,410 |  | 26,281
| 877,406 |  | 1,122,571

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
Nil Ordinary A shares (2024: 1,666 shares of £ 0.001 each) | 0 |  | 1.67
Nil Ordinary B shares (2024: 1,666 shares of £ 0.001 each) | 0 |  | 1.67
3,702 Ordinary shares of £ 0.001 each (2024: nil shares) | 3.70 |  | 0
| 3.70 |  | 3.34

During the financial year, Ordinary Class C shares were allotted with an aggregate nominal value of £0.37 where consideration of £30,129 was received.
Following this allotment share classes A, B and C were reclassified as Ordinary Shares.

#### 8. Financial commitments

Commitments

The company has total commitments at the balance sheet date of £113,735 (2024: £52,262)

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The company operates a defined contribution pension scheme. As at 30 September 2025, contributions outstanding were £18,346 (2024: £20,981).

#### 9. Related party transactions

During the year, the company paid consultancy fees amounting to £8,417 (2024: £13,360) to a director of the company.
The transactions were carried out on normal commercial terms and at arm’s length. At the reporting date, there were no outstanding balances owed to or from the director in relation to these services (2024: £nil).
During the year, a director was advanced £30,000 (2024: £nil). No amounts were repaid during the year (2024: £nil), the balance is interest free and repayable on demand.