REGISTERED NUMBER: 04597731 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

P McCarthy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P L McCarthy

Mrs L C Mccarthy

SECRETARY:

P L McCarthy

REGISTERED OFFICE:

2 Twickenham Avenue

Brandon

Suffolk

IP27 0PD

REGISTERED NUMBER:

04597731 (England and Wales)

ACCOUNTANTS:

Mead Accounting Limited

Chartered Certified Accountants

The Stables

Summer Road

Walsham Le Willows

Suffolk

IP31 3AJ

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

2,118,286

1,521,310

2,118,286

1,521,310

CURRENT ASSETS

Stocks

36,334

18,234

Debtors

7

561,904

458,312

Cash at bank

39,313

33,704

637,551

510,250

CREDITORS

Amounts falling due within one year

8

717,720

543,254

NET CURRENT LIABILITIES

(80,169

)

(33,004

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,038,117

1,488,306

CREDITORS

Amounts falling due after more than one year

9

(994,826

)

(784,309

)

PROVISIONS FOR LIABILITIES

12

(228,166

)

(155,723

)

NET ASSETS

815,125

548,274

CAPITAL AND RESERVES

Called up share capital

13

100

100

Retained earnings

815,025

548,174

SHAREHOLDERS' FUNDS

815,125

548,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2026 and were signed on its behalf by:

P L McCarthy - Director

Mrs L C Mccarthy - Director

1.	STATUTORY INFORMATION

P McCarthy Limited is a private company, limited by shares , registered in England and Wales. 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance and 10% on reducing balance

Computer equipment

-

25% on reducing balance

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments (but excluding investment properties), are assessed to determine whether there is an indication that those assets have suffered an impairment loss. If any indication arises, the recoverable amount is estimated and compared to its carrying amount to determine if an impairment loss has arisen.

If the recoverable amount is lower, the carrying amount of the asset is written down to its recoverable amount and an impairment loss is recognised in profit and loss.

Recoverable amount of the asset is the higher of its value in use and its net realisable value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from financial institutions or other related parties.

Debts instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, ,are measured initially and subsequently at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at 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.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between as asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2025 - 20 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

395,000

AMORTISATION

At 1 April 2025

and 31 March 2026

395,000

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

105,903

2,157,857

2,263,760

Additions

-

818,017

818,017

Disposals

-

(74,997

)

(74,997

)

At 31 March 2026

105,903

2,900,877

3,006,780

DEPRECIATION

At 1 April 2025

-

742,450

742,450

Charge for year

-

186,905

186,905

Eliminated on disposal

-

(40,861

)

(40,861

)

At 31 March 2026

-

888,494

888,494

NET BOOK VALUE

At 31 March 2026

105,903

2,012,383

2,118,286

At 31 March 2025

105,903

1,415,407

1,521,310

Included in cost of land and buildings is freehold land of £ 105,903 (2025 - £ 105,903 ) which is not depreciated.

In the opinion of the directors, the current market value of the land & buildings is approximately £400,000. However the financial statements have not been revalued to reflect this.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2025

1,694,379

Additions

723,214

Disposals

(63,283

)

Transfer to ownership

(68,891

)

At 31 March 2026

2,285,419

DEPRECIATION

At 1 April 2025

390,467

Charge for year

169,954

Eliminated on disposal

(31,394

)

Transfer to ownership

(37,503

)

At 31 March 2026

491,524

NET BOOK VALUE

At 31 March 2026

1,793,895

At 31 March 2025

1,303,912

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

543,304

428,975

Other debtors

18,600

29,337

561,904

458,312

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts (see note 10)

339,902

280,408

Trade creditors

210,686

132,680

Taxation and social security

126,486

91,238

Other creditors

40,646

38,928

717,720

543,254

Included within other creditors are amounts owed to the directors amounting to £1,724 (2025 - £426)

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts (see note 10)

991,492

759,309

Other creditors

3,334

25,000

994,826

784,309

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.26

31.3.25

£

£

Net obligations repayable:

Within one year

339,902

280,408

Between one and five years

991,492

759,309

1,331,394

1,039,717

Non-cancellable

operating leases

31.3.26

31.3.25

£

£

Within one year

-

13,380

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.26

31.3.25

£

£

Hire purchase contracts

1,331,394

1,039,717

Directors loan account

768

426

1,332,162

1,040,143

The bank overdraft and loan is secured by charges over the company's assets.

The hire purchase contracts are secured over the assets purchased.

The directors loan is secured by a debenture over the company's assets.

Additionally the bank overdraft and other loan are secured by personal guarantees from the directors.

12.	PROVISIONS FOR LIABILITIES

31.3.26

31.3.25

£

£

Deferred tax

Accelerated capital allowances

381,567

268,092

Tax losses

(153,401

)

(112,369

)

228,166

155,723

Deferred

tax

£

Balance at 1 April 2025

155,723

Charge to Income Statement during year

72,443

Balance at 31 March 2026

228,166

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

100

Ordinary

£1

100

100