Major Group Management Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 15326692

Major Group Management Services Limited

Filleted Unaudited Financial Statements

31 December 2024

Major Group Management Services Limited

Statement of Financial Position

31 December 2024

	2024
Note	£

Fixed assets

Investments	6	320,000

Current assets

Cash at bank and in hand	6,641

Creditors: amounts falling due within one year	7	97,921
		--------
Net current liabilities		91,280
		---------
Total assets less current liabilities		228,720

Creditors: amounts falling due after more than one year	8	206,106
		---------
Net assets		22,614
		---------

Capital and reserves

Called up share capital	10,000
Profit and loss account	12,614
	--------
Shareholders funds	22,614
	--------

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 comprehensive income has not been delivered.

For the year ending 31 December 2024 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 .

Major Group Management Services Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr Major	Mrs Major
Director	Director

Company registration number: 15326692

Major Group Management Services Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Summit House, 10 Waterside Court, Newport, NP20 5NT.

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.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

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.

Revenue recognition

Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Income 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.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tax on profit

Major components of tax expense

	2024
	£

Current tax:

UK current tax expense	2,959
	-------
Tax on profit	2,959
	-------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is the same as the standard rate of corporation tax in the UK of 19 %.

	2024
	£
Profit on ordinary activities before taxation	15,573
	--------
Profit on ordinary activities by rate of tax	2,959
	--------

5. Subsidiaries

Details of the company's subsidiaries as at 31st December 2024 are as follows;

Classic Fires & Bathrooms Limited with a registered office of Summit House, 10 Waterside Court, Newport, NP20 5NT, holding 100% of the ordinary share capital.

United Trades (Monmouth) Limited with a registered office of 1 Jordan Close, Monmouth, NP25 5EB, holding 100% of the ordinary share capital.

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024	–
Additions	320,000
	---------
At 31 December 2024	320,000
	---------
Impairment
At 1 January 2024 and 31 December 2024	–
	---------

Carrying amount
At 31 December 2024	320,000
	---------

7. Creditors: amounts falling due within one year

	2024
	£
Bank loans and overdrafts	28,317
Corporation tax	2,959
Other creditors	66,645
	--------
	97,921
	--------

8. Creditors: amounts falling due after more than one year

	2024
	£
Bank loans and overdrafts	206,106
	---------

9. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2024
	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	6,641
	-------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	301,068
	---------

10. Directors' advances, credits and guarantees

The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding to the director was £65,675 ; this amount being included in creditors: amounts falling within one year.

11. Related party transactions

The company has a wholly owned subsidiary, Classic Fires & Bathrooms Limited, incorporated in the United Kingdom. During the year, a management charge receivable of £35,000 from the subsidiary has been recognised in the income statement.