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REGISTERED NUMBER: 06625809 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

GERVIS PLC

GERVIS PLC (REGISTERED NUMBER: 06625809)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Statement of Financial Position 11

Statement of Changes in Equity 12

Statement of Cash Flows 13

Notes to the Statement of Cash Flows 14

Notes to the Financial Statements 15


GERVIS PLC

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr A G Barfield
Mrs E A Barfield



SECRETARY: Mr A G Barfield



REGISTERED OFFICE: 7 West Close
Verwood
Dorset
BH31 6PS



REGISTERED NUMBER: 06625809 (England and Wales)



SENIOR STATUTORY AUDITOR: Lisa Wilson FCA



AUDITORS: Rothmans Audit LLP
Chartered Accountants & Statutory Auditors
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN

GERVIS PLC (REGISTERED NUMBER: 06625809)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their strategic report for the year ended 30 June 2024.

The principal activity of the company in the year under review was that of management consultants.

Gervis Plc is a financial analysis and consultancy company which looks for opportunities to invest in under-performing and non-core companies. The company is engaged in the provision of help and assistance to companies experiencing financial difficulties and, where possible, offers a complete turnaround service to those companies experiencing financial distress.

The board has decades of experience in working with poorly performing companies as well as those on the brink of insolvency. The company currently operates across the south-west and south-east regions from its offices in Christchurch, Dorset.

REVIEW OF BUSINESS
The results for the year and financial position of the company are as shown in the annexed financial statements.

The company's key performance indicators are turnover and profit/loss before tax:

2024 2023
£ £
Turnover 237,303 243,684
Profit before tax 75,632 83,629

The directors are satisfied with the company's performance in the year. Turnover remains inline with expectations and the balance sheet shows that at the year-end the company had net assets of £196,222 (2023: £161,028).

PRINCIPAL RISKS AND UNCERTAINTIES
The company uses financial instruments including cash and various items, such as trade debtors and creditors, that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.

The main risks arising from the company's financial instruments are cash flow, credit risk and liquidity risk. The directors review the policy for managing each of these risks and they are summarised below. The company is not exposed to currency risk.

The company's principal credit risk arises from its trade debtors. Debt ageing is reviewed on a regular basis by the directors.

The company seeks to manage cash flow and liquidity risk by ensuring sufficient liquidity is available to meet its foreseeable needs, and the directors provide financial support to the company as necessary.

These policies have remained unchanged from the previous year.


GERVIS PLC (REGISTERED NUMBER: 06625809)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

SECTION 172(1) STATEMENT
The directors have given regard to their duties to promote the success of the company and to the impact their decisions may have upon its members and stakeholders. When making decisions the directors are careful to consider the long term consequences of their choices and whether they are acting in the best interest of the company's employees. They also take into account the need to foster business relationships with suppliers, customers and other, the impact of the company's operations on the community and environment, the company's reputation for high standards of business conduct and the need to act fairly between members of the company.

ON BEHALF OF THE BOARD:





Mr A G Barfield - Director


22 June 2025

GERVIS PLC (REGISTERED NUMBER: 06625809)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


The directors present their report with the financial statements of the company for the year ended 30 June 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £ 20,566 .

FUTURE DEVELOPMENTS
The directors are confident that the company will continue to trade and produce sufficient reserves to meet all of its operational liabilities. The Company has continued to develop its business and anticipates continued profitability in 2024/25.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mr A G Barfield
Mrs E A Barfield

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen to include information regarding the risk exposure of the company in relation to financial instruments in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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 directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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 directors are 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 each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

GERVIS PLC (REGISTERED NUMBER: 06625809)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


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

ON BEHALF OF THE BOARD:





Mr A G Barfield - Director


22 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GERVIS PLC


Opinion
We have audited the financial statements of Gervis PLC (the 'company') for the year ended 30 June 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 June 2024 and of its profit 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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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 Directors 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 Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GERVIS PLC


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 Directors.

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 directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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.

Extent to which the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit, in respect to fraud, are to identify and assess the risks of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures include the following:

- The engagement partner ensured that the engagement team collectively had the appropriate
competence, capabilities and skills to identify or recognise non-compliance with applicable laws and
regulations;
- We obtained an understanding of the legal and regulatory frameworks that are applicable to the
company and those laws and regulations that had a direct effect on the financial statements. The key
laws considered are FRS102 and the Companies Act 2006; and
- We assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence. The identified laws and regulations
were communicated within the audit team regularly and the team remained alert to instances of
non-compliance throughout the audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GERVIS PLC


We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- Making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud; and
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.

We identified the greatest risk of material impact on the financial statements from irregularities, including
fraud, to be within the recognition of income and the override of controls by management. To address the risk
of fraud in these areas, we:

- selected a sample of transactions from material income streams and compared expected income to
that recorded within the financial statements;
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out
in note 2 were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures, which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing legal and professional expenditure incurred in the year.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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
GERVIS PLC


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.




Lisa Wilson FCA (Senior Statutory Auditor)
for and on behalf of Rothmans Audit LLP
Chartered Accountants & Statutory Auditors
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN

26 June 2025

GERVIS PLC (REGISTERED NUMBER: 06625809)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 3 237,303 243,684

Cost of sales 64,017 35,275
GROSS PROFIT 173,286 208,409

Administrative expenses 99,788 124,235
OPERATING PROFIT 5 73,498 84,174

Interest receivable and similar income 6 3,235 547
76,733 84,721

Interest payable and similar expenses 7 1,101 1,092
PROFIT BEFORE TAXATION 75,632 83,629

Tax on profit 8 19,872 18,301
PROFIT FOR THE FINANCIAL YEAR 55,760 65,328

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

55,760

65,328

GERVIS PLC (REGISTERED NUMBER: 06625809)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 10 6,246 7,969

CURRENT ASSETS
Debtors 11 213,318 45,008
Cash at bank 67,196 186,783
280,514 231,791
CREDITORS
Amounts falling due within one year 12 80,913 58,804
NET CURRENT ASSETS 199,601 172,987
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,847

180,956

CREDITORS
Amounts falling due after more than one
year

13

(9,167

)

(19,167

)

PROVISIONS FOR LIABILITIES 16 (458 ) (761 )
NET ASSETS 196,222 161,028

CAPITAL AND RESERVES
Called up share capital 17 21,875 21,875
Retained earnings 18 174,347 139,153
SHAREHOLDERS' FUNDS 22 196,222 161,028

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2025 and were signed on its behalf by:





Mr A G Barfield - Director


GERVIS PLC (REGISTERED NUMBER: 06625809)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 21,875 73,825 95,700

Changes in equity
Profit for the year - 65,328 65,328
Total comprehensive income - 65,328 65,328
Balance at 30 June 2023 21,875 139,153 161,028

Changes in equity
Profit for the year - 55,760 55,760
Total comprehensive income - 55,760 55,760
Dividends - (20,566 ) (20,566 )
Balance at 30 June 2024 21,875 174,347 196,222

GERVIS PLC (REGISTERED NUMBER: 06625809)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 66,525 80,483
Interest paid (633 ) (973 )
Tax paid - (19,895 )
Net cash from operating activities 65,892 59,615

Cash flows from investing activities
Loan to related party (155,881 ) -
Interest received 2,428 547
Net cash from investing activities (153,453 ) 547

Cash flows from financing activities
Loan repayments in year (10,000 ) (10,000 )
Amount introduced by directors 36,028 -
Amount withdrawn by directors (37,488 ) (1,116 )
Equity dividends paid (20,566 ) -
Net cash from financing activities (32,026 ) (11,116 )

(Decrease)/increase in cash and cash equivalents (119,587 ) 49,046
Cash and cash equivalents at
beginning of year

2

186,783

137,737

Cash and cash equivalents at end of
year

2

67,196

186,783

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 75,632 83,629
Depreciation charges 1,723 1,786
Finance costs 1,101 1,092
Finance income (3,235 ) (547 )
75,221 85,960
Increase in trade and other debtors (9,669 ) (19,854 )
Increase in trade and other creditors 973 14,377
Cash generated from operations 66,525 80,483

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 67,196 186,783
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 186,783 137,737


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank 186,783 (119,587 ) 67,196
186,783 (119,587 ) 67,196
Debt
Debts falling due within 1 year (10,000 ) - (10,000 )
Debts falling due after 1 year (19,167 ) 10,000 (9,167 )
(29,167 ) 10,000 (19,167 )
Total 157,616 (109,587 ) 48,029

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Gervis PLC is a public 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.

The financial statements are prepared in Sterling (£) which is the functional currency of the company, and are rounded to the nearest pound.

The financial statements have been prepared on a going concern basis. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

The most significant sources of estimate uncertainty are the estimation of the useful economic lives of tangible fixed assets and the valuation of provisions for bad and doubtful debts.

Turnover
Turnover represents the amount derived from the provision of services which fall within the company's ordinary activities, stated after trade discounts, other sales taxes and net of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities described below.

Rendering of services - consultancy, wills and probate

The company recognises revenue on the sales of services in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered.

When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.

Wills storage income is recognised in the period in which storage facilities are provided.

Other Income
Financial services commission is recognised when the company has fulfilled the necessary criteria for payment.

Interest income
Interest income is recognised using the effective interest method.

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenant improvements - Straight line over 12 years
Plant and machinery - Straight line over 3 years
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 5 years

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. The carrying value of tangible fixed assets is reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company only enters into basic financial instrument transactions.

Recognition and measurement
Debt 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 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 payments 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 income statement. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets 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 the 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 reporting date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
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 or other future taxable profits.

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 the income statement in the period to which they relate.

Creditors
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 rate method.

Debtors
Short term debtors are measured at transactions price, less any impairment.

Cash at bank
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the opening of the deposit or similar account.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

Turnover relates solely to the rendering of services.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 12,768 48,590
Social security costs 435 60
Other pension costs 181 931
13,384 49,581

The average number of employees during the year was as follows:
2024 2023

Directors 1 1
Employees 1 1
2 2

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 12,285 12,025
Directors' pension contributions to money purchase schemes 181 174

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

The company considers its directors to be its key management personnel. Total key management personnel remuneration for the year was £12,900 (2023: £12,619).

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 1,723 1,784
Auditors' remuneration 3,655 3,435
Auditors' remuneration for non audit work 2,213 1,848
Operating lease payments 20,167 19,000

6. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Deposit account interest 1,953 547
Other interest receivable 1,282 -
3,235 547

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 617 871
Interest payable 484 221
1,101 1,092

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 20,175 18,361

Deferred tax (303 ) (60 )
Tax on profit 19,872 18,301

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 75,632 83,629
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 20.496%)

18,908

17,141

Effects of:
Expenses not deductible for tax purposes 3,232 1,437
Depreciation of assets not qualifying for tax relief 127 104
Change in rate of deferred tax - 206
Marginal tax relief (2,395 ) (587 )
Total tax charge 19,872 18,301

Change in rate of corporation tax
On 1 April 2023 the main rate of corporation tax in the UK increased from 19% to 25% for companies with profits over £250,000. The small profits rate for companies with annualised profits of less than £50,000 is 19%, and companies with profits between £50,000 and £250,000 pay tax on those profits at a marginal rate of 26.5%.

Factors that may affect future tax charges
The company has capital losses of £10,000 which are available indefinitely for offset against future taxable profits of the company. A deferred tax asset has not been recognised in respect of these losses.

9. DIVIDENDS
2024 2023
£    £   
Interim 20,566 -

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. TANGIBLE FIXED ASSETS
Fixtures
Tenant Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023
and 30 June 2024 6,113 735 3,524 5,112 15,484
DEPRECIATION
At 1 July 2023 1,189 735 2,762 2,829 7,515
Charge for year 509 - 191 1,023 1,723
At 30 June 2024 1,698 735 2,953 3,852 9,238
NET BOOK VALUE
At 30 June 2024 4,415 - 571 1,260 6,246
At 30 June 2023 4,924 - 762 2,283 7,969

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,556 35,635
Emma Loan 156,688 -
Directors' loan accounts 7,756 6,296
Tax 2,618 2,125
Prepayments and accrued income 22,700 952
213,318 45,008

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 10,000 10,000
Trade creditors 6,257 -
Tax 41,622 20,486
Social security and other taxes 524 1,062
VAT 15,018 15,568
Net Wages 337 -
Pension contributions due 140 35
Accrued expenses 7,015 11,653
80,913 58,804

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 14) 9,167 19,167

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,167 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 9,167

The company has taken a bank loan under the Government backed Bounce Back Loan Scheme. As part of this scheme, the UK Government covered interest payments until 12 May 2021. From 12 May 2021 onwards the loan attracts interest at a rate of 2.5%pa and is repayable in 60 monthly installments.

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 14,000 -
Between one and five years 54,833 -
68,833 -

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 458 761

Deferred
tax
£   
Balance at 1 July 2023 761
Credit to Statement of Comprehensive Income during year (303 )
Balance at 30 June 2024 458

17. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary shares £1 21,875 21,875

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


17. CALLED UP SHARE CAPITAL - continued

Ordinary share capital has full voting, equity and dividend rights and is non-redeemable.

Number of Paid Up
Shares Issued£
Shares issued and fully paid12,50012,500
Shares issued and partly paid37,5009,375
Total Share Capital50,00021,875

18. RESERVES
Retained
earnings
£   

At 1 July 2023 139,153
Profit for the year 55,760
Dividends (20,566 )
At 30 June 2024 174,347

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr A G Barfield
Balance outstanding at start of year 6,296 (4,170 )
Amounts advanced 37,488 10,466
Amounts repaid (36,028 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,756 6,296

This loan is repayable on demand. When the loan is in credit no interest is paid to the director. When the loan is overdrawn interest is payable to the company at the HMRC official rate of interest if the balance exceeds £10,000.

GERVIS PLC (REGISTERED NUMBER: 06625809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


20. RELATED PARTY DISCLOSURES

Mr A Barfield
Director

During the year rent of £19,000 (2023: £19,000) was paid to the director. Additionally, abortive property improvements costing £6,436 were carried out at a property owned by the director, which the company had intended to use as new office space before subsequently locating a more suitable premises.

Mrs E Hanks
Daughter of Director

During the year ended 30 June 2024, a loan of £155,881 was advanced to Mrs E Hanks by Gervis PLC. The loan is subject to interest at a rate of 2.25% per annum and is repayable on demand. During the year, interest of £807 was accrued on this loan.

2024 2023
£    £   
Amount due from / (to) related party at the balance sheet date 156,688 -

During the year, the company entered into an agreement to rent office space from Mrs E Hanks over a period of 5 years. Rent of £1,167 (2023: £Nil) was paid for the period to 30 June 2024 and an advance of £21,633 was paid in relation to future periods and is included within prepayments as at 30 June 2024 (2023: £Nil).

21. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A G Barfield.

22. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2024 2023
£    £   
Profit for the financial year 55,760 65,328
Dividends (20,566 ) -
Net addition to shareholders' funds 35,194 65,328
Opening shareholders' funds 161,028 95,700
Closing shareholders' funds 196,222 161,028