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Registered number: 15280893
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FOR THE YEAR ENDED
31 MARCH 2026
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COMPANY INFORMATION
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J M Marshall (resigned 13 April 2026)
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P J Davidson (appointed 24 April 2026)
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Chartered Accountants & Statutory Auditor
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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MCANDREW BIDCO LTD
REGISTERED NUMBER:15280893
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................
P J Davidson
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The notes on pages 2 to 6 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
McAndrew Bidco Limited is a private company limited by shares incorporated in England and Wales. The address of it's registered office is disclosed on the company information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At the period end date, the Company's liabilities exceed its assets, therefore the Company is reliant on the
continued support provided to it by its Parent Company, McAndrew Holdco Limited.
McAndrew Holdco Limited has confirmed that they will continue to support the Company and not recall debts until the Company has sufficient means to repay them. The directors consider that the Company can meet its obligations as they fall due for the foreseeable future. As a result, the accounts have been prepared on a going concern basis.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors 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.
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Cash and cash equivalents
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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.
Short-term creditors 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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects on that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Sources of estimation uncertainty
Impairment of investments in subsidiaries
Management applies judgement in assessing whether indicators of impairment exist in respect of investments in subsidiaries, considering the financial performance, net asset position and future prospects of the underlying entities.
Based on the assessment performed at the reporting date, management concluded that no impairment indicators existed and therefore no impairment was required.
Carrying value of deferred tax assets
The company has recognised a deferred tax asset of £73,238 (2025: £Nil) in respect of trading losses carried forward.
The recognition of this asset is based on management's assessment that it is probable that sufficient future taxable profits will be available against which the losses can be utilised. This assessment is based on:
∙Approved budgets and forecasts covering the period through to March 2036;
∙Expected future trading performance;
∙The reversal of existing taxable temporary differences; and
∙Available tax planning opportunities where relevant.
Management has considered the sensitivity of the forecasts to reasonably possible changes in assumptions and remains satisfied that the deferred tax asset remains recoverable. Should actual future taxable profits differ from current forecasts, the carrying value of the deferred tax asset may require adjustment.
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The average monthly number of employees, including directors, during the year was 2 (2025 - 2).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Investments in subsidiary companies
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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As at the balance sheet date, the loans are classified as repayable on demand due to technical breaches around the covenants attached to the loan. At the date of approval of these financial statements, the bank has not demanded repayment of the loan and continues to make the facility available. The bank have also paused / reset some of the covenants for the period to March 2027 which further supports managements view that the facility will continue to be available in accordance with the Company's financing requirements.
The bank loan is secured by a fixed and floating charge over the assets and undertaking of the company.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Tax losses carried forward
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The company is a 100% subsidary of McAndrew Holdco Limited.
The ultimate controling party is McAndrew Holdco Limited incorporated in England and Wales. McAndrew Holdco Limited creates both the largest and smallest group undertaking in which accounts are drawn up. The registered office is 119 Parkroad, Chandlers Ford, Eastleigh, Hampshire, SO53 1HX.
The consolidated accounts, in which this entity is included, can be found at Companies House, Crown Way, Cardiff, CF14 3UZ.
The auditor's report on the financial statements for the year ended 31 March 2026 was unqualified.
The audit report was signed on 16 September 2026 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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