Mackrill Financial Management Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04662576

MACKRILL FINANCIAL MANAGEMENT LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

MACKRILL FINANCIAL MANAGEMENT LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

CONTENTS	PAGE

Statement of financial position	1

Notes to the financial statements	3

MACKRILL FINANCIAL MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		24,523		29,982

CURRENT ASSETS

Debtors	6	6,155	2,115
Investments	7	66,278	64,554
Cash at bank and in hand		254,078	211,219
		----------	----------
		326,511	277,888

CREDITORS: amounts falling due within one year	8	88,997		73,002
		----------		----------
NET CURRENT ASSETS			237,514		204,886
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			262,037		234,868

PROVISIONS

Taxation including deferred tax	9	4,107	5,183
		----------	----------
NET ASSETS		257,930	229,685
		----------	----------

MACKRILL FINANCIAL MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	11	4	4
Profit and loss account		257,926	229,681
		----------	----------
SHAREHOLDERS FUNDS		257,930	229,685
		----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 November 2025 , and are signed on behalf of the board by:

J C Mackrill

Director

Company registration number: 04662576

MACKRILL FINANCIAL MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 26 Ripponden Business Park, Oldham Road, Ripponden, Sowerby Bridge, West Yorkshire, HX6 4FF.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements .

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents insurance commission and fees earned when the insurance business carried out by the company is put into force by the insurance company to whom that business has been given with a deduction for the clawback of commission or fees by the insurance company due to the cancellation of that business. All other commission and fees are earned when the transaction relating to the earning of that commission or fee has been completed.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings	-	10% straight line
Equipment	-	33% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Investments Investments are initially recorded at cost, and subsequently stated at surrender value with the profit or loss being recognised in profit or loss in the current year.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 5 (2024: 4 ).

5. TANGIBLE ASSETS

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	36,866	14,762	51,628
	---------	---------	---------
Depreciation
At 1 April 2024	9,750	11,896	21,646
Charge for the year	3,006	2,453	5,459
	---------	---------	---------
At 31 March 2025	12,756	14,349	27,105
	---------	---------	---------
Carrying amount
At 31 March 2025	24,110	413	24,523
	---------	---------	---------
At 31 March 2024	27,116	2,866	29,982
	---------	---------	---------

6. DEBTORS

	2025	2024
	£	£
Prepayments and accrued income	6,155	2,115
	-------	-------

7. INVESTMENTS

	2025	2024
	£	£
Investment	66,278	64,554
	---------	---------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	4,550	4,161
Corporation tax	83,645	67,672
Director loan accounts	802	802
Other creditors	–	367
	---------	---------
	88,997	73,002
	---------	---------

9. PROVISIONS

	Deferred tax (note 10)
	£
At 1 April 2024	5,183
Charge against provision	( 1,076)
	-------
At 31 March 2025	4,107
	-------

10. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 9)	4,107	5,183
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	4,107	5,183
	-------	-------

11. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	1	1	1	1
Ordinary B shares of £ 1 each	1	1	1	1
Ordinary C shares of £ 1 each	1	1	1	1
Ordinary D shares of £ 1 each	1	1	1	1
	----	----	----	----
	4	4	4	4
	----	----	----	----

All shares rank pari passu except that C and D shares have no voting or other participating right .

12. CONTINGENCIES

The company acts as guarantor for a loan of £150,000 made in June 2015 by The Royal Bank of Scotland to Mackrill Property, a partnership in which the directors and their families have a controlling interest. At the year-end, the loan balance was £27,044 (2024: £32,455).

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors Mr J C Mackrill and Mr J P Mackrill had unsecured interest free loans with the company. The directors' loan accounts were both in credit throughout the year and are repayable on demand.