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REGISTERED NUMBER: 05342538 (England and Wales)














Strategic Report, Report of the Director and

Financial Statements for the Year Ended 30 April 2024

for

CWG Services Limited

CWG Services Limited (Registered number: 05342538)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 6

Report of the Independent Auditors 8

Income Statement 12

Other Comprehensive Income 13

Balance Sheet 14

Statement of Changes in Equity 15

Notes to the Financial Statements 16


CWG Services Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr D S Reynolds





REGISTERED OFFICE: Fifth Floor
79 College Road
Harrow
Middlesex
HA1 1BD





REGISTERED NUMBER: 05342538 (England and Wales)





AUDITORS: Nordens
Statutory Auditors
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

CWG Services Limited (Registered number: 05342538)

Strategic Report
for the Year Ended 30 April 2024

The director presents his strategic report for the year ended 30 April 2024.

CWG Services Limited is a subsidiary of Guild Corporate Services Group Limited ("GCSL") which was founded in 2004. The Guild brand has some 27 years of experience in CIS compliance and is a highly regarded provider of engagement and compliance services. It is passionate about its belief that self-employment helps to foster prosperity, freedom and independence. The Group is committed to providing the best possible service to its clients and to that end, it has focused on ensuring that it maintains a thorough understanding of current and future compliance requirements, such that all reporting obligations are met and clients are briefed on the impact of proposed changes.

Our dedicated in-house teams specialising in legal, tax and compliance issues ensure that all employment status matters are addressed and in full compliance with current regulatory standards, thus mitigating the commercial risks that can arise when engaging self-employed workers.

REVIEW OF BUSINESS
The results for the year and financial position are set out in the financial statements that form part of these accounts.

In the year under review, the company experienced a downturn in turnover although, Earnings Before Interest, Taxation Depreciation and Amortisation ("EBITDA") was improved as the company ensured it generated a more positive profit margin. This performance demonstrates the robustness of the Group's operations and the success of our strategic initiatives.

- Turnover decreased by 14% from £3.6m to £3.1m.

- EBITDA increased by 77.8%, largely driven by operating efficiencies delivered by our strategic initiatives.

The company is continually looking for ways to expand its operations both by increasing market share in the sectors within which it operates and by diversification into adjoining markets where it makes commercial sense. Our ability to increase EBITDA despite a downturn in turnover gives us confidence that we have a solid foundation to support all of our stakeholder groups in the long term.


CWG Services Limited (Registered number: 05342538)

Strategic Report
for the Year Ended 30 April 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The company faces a range of risks, which are managed through proactive risk management practices. The following risks have been identified:

Financial Risk
Risk: The company is exposed to risks associated with its financial assets and liabilities. The primary risk is the potential shortfall of proceeds from financial assets to meet obligations when they fall due.
Mitigation: To manage this, management constantly reviews cash flows and ensure sufficient funds are retained within the business to meet identified needs and to cover unforeseen items of expenditure.

Economic and Market Conditions
Risk: Economic downturns, inflation, recessions and changes in consumer spending patterns can materially impact revenues and profitability.
Mitigation: The company actively monitors economic trends (especially within the sectors within which it operates) and adapts its operations as required in order to benefit from positive changes and mitigate any less favourable trends.

Regulatory and Compliance Risks
Risk: Changes in laws and regulations, such as data protection (e.g. GDPR), tax legislation / regulations and environmental law could adversely impact the company.
Mitigation: The company is committed to staying abreast of changes in legislation and by using a combination of a skilled in-house team of experts supported by third party subject matter experts successfully achieves this. Having advanced warning of future changes means the Group can plan for change in a proactive manner.

Environmental Risk
Risk: The company recognises its responsibility towards environmental sustainability.
Mitigation: While the company's activities do not have a material adverse impact on the environment, it does monitor and actively manage the environmental impact of its activities. Initiatives in this area include enhancing energy efficiency, reducing paper usage and encouraging recycling wherever possible.


CWG Services Limited (Registered number: 05342538)

Strategic Report
for the Year Ended 30 April 2024

FINANCIAL KEY PERFORMANCE INDICATORS
The company believes that Turnover, EBITDA and Net Assets are the key performance indicators ("KPIs") for the business. These were as follows:

Key Metric 2024 2023 Change
£m £m %
Turnover 3.1 3.6 -14.0
EBITDA (0.02) (0.09) 77.8
Net Liabilities (0.1) (0.1) 0.0

In addition to financial KPIs, the company recognises the importance of monitoring some non-financial KPIs in order to guarantee the long-term future of the business and to maximise operational efficiency. The company believes the following are the most important non-financial KPIs.

Innovation - In order to carry on business and to thrive, the business needs to continually review the legislative environment in which it operates and adapt to any changes that may arise. In order to maintain a competitive advantage, the company continually reviews all of its systems and procedures and adapts these where it becomes clear economic advantage can be realised from enhancements.
Employee Satisfaction - We recognise that our employees are a key element of the business' ability to deliver high quality services. To that end we aim to be a responsible employer in respect to pay and associated benefits. We aim to allow for flexible working wherever this is possible and to ensure that staff receive appropriate training to allow them to deliver high quality services to clients.
Ethical standards - The business provides services of a technical nature and as a business we are committed to ensuring that we undertake sufficient research and training to ensure that our clients can depend upon the advice and services we provide are both compliant and insightful.

FUTURE DEVELOPMENTS
Looking forwards the company is focused on a number of initiatives aimed at both growing and strengthening the business. These include:

New Product Launches - The company is looking to launch new product lines which will diversify our product offerings, allow for expansion into alternative business segments and provide a more rounded suite of products for our current and future client base.

Improving Efficiency - The company is intending to carry on with its various initiatives to remove unnecessary costs from its operations, increase operational efficiency from enhanced computer systems and more streamlined internal processes as well as reducing any environmental impact wherever possible.

Employees and Advisors - The company recognises that in order to deliver high quality services to its clients, it needs to continue to recruit and retain high calibre individuals and is committed to doing so. It also recognises the value it has in the network of professional advisors that it has established and intends to maintain and develop this group in order to be able to access specialist insight as and when it is needed.


CWG Services Limited (Registered number: 05342538)

Strategic Report
for the Year Ended 30 April 2024

CONCLUSION
CWG Services Limited remains committed to delivering high quality services to the sectors within which it operates and to constantly monitor changes in the regulatory environment to ensure clients are always compliant. The company believes that its strategic initiatives will deliver this and ensure the company has a long-term future.

ON BEHALF OF THE BOARD:





Mr D S Reynolds - Director


16 January 2025

CWG Services Limited (Registered number: 05342538)

Report of the Director
for the Year Ended 30 April 2024

The director presents his report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of offering engagement and compliance services.

DIVIDENDS
No dividends will be distributed for the year ended 30 April 2024.

DIRECTOR
Mr D S Reynolds held office during the whole of the period from 1 May 2023 to the date of this report.

GOING CONCERN
The financial statements have been prepared on the going concern basis, which the director believes to be appropriate for the reasons stated below.

Having reviewed the company's financial forecasts and expected future cash flows, the director has a reasonable expectation that the company has adequate resources available to continue in operational existence for the foreseeable future, a period of not less than 12 months from the date of approval of these financial statements.

Based on the considerations set out above, the director believes that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

CWG Services Limited (Registered number: 05342538)

Report of the Director
for the Year Ended 30 April 2024


AUDITORS
The auditors, Nordens, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr D S Reynolds - Director


16 January 2025

Report of the Independent Auditors to the Members of
CWG Services Limited

Opinion
We have audited the financial statements of CWG Services Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
CWG Services Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page six, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
CWG Services Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
- Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's
report. However, future events or conditions may cause the Company to cease to continue as a going concern.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
CWG Services Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Lorraine Curtis (Senior Statutory Auditor)
for and on behalf of Nordens
Statutory Auditors
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

16 January 2025

CWG Services Limited (Registered number: 05342538)

Income Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 3,129,080 3,647,516

Administrative expenses (3,154,948 ) (3,748,571 )
OPERATING LOSS (25,868 ) (101,055 )

Interest receivable and similar income 713 2,079
LOSS BEFORE TAXATION (25,155 ) (98,976 )

Tax on loss 4 - -
LOSS FOR THE FINANCIAL YEAR (25,155 ) (98,976 )

CWG Services Limited (Registered number: 05342538)

Other Comprehensive Income
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

LOSS FOR THE YEAR (25,155 ) (98,976 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

(25,155

)

(98,976

)

CWG Services Limited (Registered number: 05342538)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
CURRENT ASSETS
Debtors 5 10,382,848 12,898,105
Cash at bank 538,180 520,677
10,921,028 13,418,782
CREDITORS
Amounts falling due within one year 6 (11,039,026 ) (13,511,625 )
NET CURRENT LIABILITIES (117,998 ) (92,843 )
TOTAL ASSETS LESS CURRENT LIABILITIES (117,998 ) (92,843 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 (118,000 ) (92,845 )
SHAREHOLDERS' FUNDS (117,998 ) (92,843 )

The financial statements were approved by the director and authorised for issue on 16 January 2025 and were signed by:





Mr D S Reynolds - Director


CWG Services Limited (Registered number: 05342538)

Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 2 6,131 6,133

Changes in equity
Total comprehensive income - (98,976 ) (98,976 )
Balance at 30 April 2023 2 (92,845 ) (92,843 )

Changes in equity
Total comprehensive income - (25,155 ) (25,155 )
Balance at 30 April 2024 2 (118,000 ) (117,998 )

CWG Services Limited (Registered number: 05342538)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

CWG Services 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

The financial statements of the company are consolidated in the financial statements of Guild Corporate Services Group Limited. These consolidated financial statements are available from its registered office: Fifth Floor, 79 College Road, Harrow, Middlesex, HA1 1BD.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of the assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is calculated on the value of the costs incurred by the company which are subsequently recharged. It is measured excluding discounts, value added tax and other sales taxes.

CWG Services Limited (Registered number: 05342538)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 current 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.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


CWG Services Limited (Registered number: 05342538)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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. Amounts 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.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Employee 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.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

CWG Services Limited (Registered number: 05342538)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on the going concern basis, which the director believes to be appropriate for the reasons stated below. .

Having reviewed the company's financial forecasts and expected future cash flows, the director has a reasonable expectation that the company has adequate resources available to continue in operational existence for the foreseeable future, a period of not less than 12 months from the date of approval of these financial statements.

Based on the considerations set out above, the director believes that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£    £   
Wages and salaries 2,610,703 2,803,703
Social security costs 275,958 537,885
Other pension costs 72,950 192,253
2,959,611 3,533,841

The average number of employees during the year was as follows:
30.4.24 30.4.23

Administrative 62 68

30.4.24 30.4.23
£    £   
Director's remuneration 105,040 105,040

4. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 April 2024 nor for the year ended 30 April 2023.

CWG Services Limited (Registered number: 05342538)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed by group undertakings 10,371,729 12,810,897
Other debtors 8,141 83,242
Directors' current accounts - 3,966
Prepayments and accrued income 2,978 -
10,382,848 12,898,105

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 7,539 760
Amounts owed to group undertakings 4,244,225 4,679,768
Social security and other taxes 6,520,434 8,262,068
VAT 160,157 225,952
Other creditors 29,112 301,365
Accruals 77,559 41,712
11,039,026 13,511,625

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2 Ordinary 1 2 2

8. RESERVES
Retained
earnings
£   

At 1 May 2023 (92,845 )
Deficit for the year (25,155 )
At 30 April 2024 (118,000 )

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D S Reynolds.