REGISTERED NUMBER: NI047821 (Northern Ireland)

McAdam Stewart Architects Limited

Unaudited Financial Statements

for the Year Ended 31 October 2025

Page

Company information

1

Statement of financial position

2

to

3

Notes to the financial statements

4

to

8

Directors:

Mr C Stewart

Mr J McAdam

Registered office:

Banbridge Enterprise Centre

Scarva Road

Banbridge

Co Down

BT32 3QD

Registered number:

NI047821 (Northern Ireland)

Accountants:

Wylie Ruddell

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Fixed assets

Intangible assets

4

-

-

Property, plant and equipment

5

14,471

17,001

14,471

17,001

Current assets

Accrued income

6

22,587

18,724

Receivables

7

99,642

115,636

Cash at bank

53,853

6,089

176,082

140,449

Payables

Amounts falling due within one year

8

(128,957

)

(131,245

)

Net current assets

47,125

9,204

Total assets less current liabilities

61,596

26,205

Payables

Amounts falling due after more than one year

9

-

(6,155

)

Provisions for liabilities

10

(3,510

)

(4,118

)

Net assets

58,086

15,932

Capital and reserves

Called up share capital

11

2

2

Retained earnings

58,084

15,930

Shareholders' funds

58,086

15,932

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2026 and were signed on its behalf by:

Mr J McAdam - Director

Mr C Stewart - Director

1.	Statutory information

McAdam Stewart Architects Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Property, plant and equipment

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

Fixtures and fittings

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Receivables

Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables

Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Leasing

Rentals payable under operating leases are dealt with in the Statement of Income and Retained Earnings as incurred over the period of the rental agreement.

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 at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provision for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Accrued income

The company recognises accrued income in respect of the stage of completion of professional services which have not been invoiced at the reporting date. This requires an estimation of the stage of completion of each particular assignment commenced but not complete at the reporting date. The carrying amount of accrued income at 31 October 2025 was £22,587 (2024: £18,724).

Useful economic lives of tangible assets

The annual depreciation charges for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments:

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and and bank balances and amounts owed by related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	Employees and directors

The average number of employees during the year was 9 (2024 - 8 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 November 2024

and 31 October 2025

100,000

Amortisation

At 1 November 2024

and 31 October 2025

100,000

Net book value

At 31 October 2025

-

At 31 October 2024

-

5.	Property, plant and equipment

Fixtures

and

fittings

£

Cost

At 1 November 2024

107,604

Additions

24

At 31 October 2025

107,628

Depreciation

At 1 November 2024

90,603

Charge for year

2,554

At 31 October 2025

93,157

Net book value

At 31 October 2025

14,471

At 31 October 2024

17,001

6.	Accrued income

2025

2024

£

£

Accrued income

22,587

18,724

7.

Receivables: amounts falling due within one year

2025

2024

£

£

Trade receivables

98,995

112,538

Other receivables

647

3,098

99,642

115,636

8.

Payables: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

6,154

10,344

Trade payables

1,539

499

Taxation and social security

82,051

61,794

Other payables

39,213

58,608

128,957

131,245

9.	Payables: amounts falling

due after more than one year

2025

2024

£

£

Bank loans

-

6,155

10.	Provisions for liabilities

2025

2024

£

£

Deferred tax

Accelerated capital allowances

3,510

4,118

Deferred tax

£

Balance at 1 November 2024

4,118

Credit to Statement of income and retained earnings during year

(608

)

Balance at 31 October 2025

3,510

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary shares

1

2

2

12.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 October 2025 and 31 October 2024:

2025

2024

£

£

Mr C Stewart and Mr J McAdam

Balance outstanding at start of year

(51,494

)

(43,667

)

Amounts advanced

99,709

93,780

Amounts repaid

(82,226

)

(101,607

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(34,011

)

(51,494

)