MHFA Wales Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07211462

MHFA Wales Ltd

Filleted Financial Statements

31 March 2025

MHFA Wales Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		6,534	6,535

Current assets

Stocks		27,007	28,559
Debtors	6	78,624	65,752
Cash at bank and in hand		230,928	246,036
		---------	---------
		336,559	340,347

Creditors: amounts falling due within one year	7	145,736		149,525
		---------		---------
Net current assets			190,823	190,822
			---------	---------
Total assets less current liabilities			197,357	197,357
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	197,355	197,355
	---------	---------
Shareholder funds	197,357	197,357
	---------	---------

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 12 December 2025 , and are signed on behalf of the board by:

A S Palmer

Director

Company registration number: 07211462

MHFA Wales Ltd

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 24 George Street, Pontypool, NP4 6BY, Wales.

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. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest pound. The principal activity of the company during the year was the delivery and development of high quality, research and evidence based mental health training. MHFA Wales Limited holds the license for Mental Health First Aid in Wales and directly train, license and support all instructors who deliver MHFA in Wales.

Going concern

The board of directors of MHFA Wales are confident that the organisation is a going concern. There are no plans to liquidate the company and we are confident that we are able to meet our ongoing commitments over the next 12 months. We have assessed cash flow, budget forecast and current business performance and see no reason that the business will have to cease trading during the next 12 months.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:

	Office Equipment	-	25% p.a. Straight line basis

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2024: 13 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2024	40,308	40,308
Additions	5,737	5,737
	--------	--------
At 31 March 2025	46,045	46,045
	--------	--------
Depreciation
At 1 April 2024	33,773	33,773
Charge for the year	5,738	5,738
	--------	--------
At 31 March 2025	39,511	39,511
	--------	--------
Carrying amount
At 31 March 2025	6,534	6,534
	--------	--------
At 31 March 2024	6,535	6,535
	--------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	69,297	52,251
Other debtors	9,327	13,501
	--------	--------
	78,624	65,752
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,918	5,863
Corporation tax	–	2,266
Social security and other taxes	27,004	25,208
Other creditors - Pension	567	–
Accruals	69,212	49,930
Other creditors	45,035	66,258
	---------	---------
	145,736	149,525
	---------	---------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	9,000	–
Later than 1 year and not later than 5 years	–	9,000
	-------	-------
	9,000	9,000
	-------	-------

9. Summary audit opinion

The auditor's report dated 1 December 2025 was unqualified .

The senior statutory auditor was Jonathan Rhodes BSc BFP FCA , for and on behalf of Walter Hunter & Co Limited .

10. Related party transactions

On 30 September 2023 the shares held by Torfaen and Blaenau Gwent Mind were transferred to Mind in Gwent Limited by Guarantee Registered in England & Wales company registration number 02916027, registered charity number 1036964 Registered office Address 100-101 Commercial Street Newport Gwent NP20 1LU. The company was under the control of the directors throughout the current year. As at 31 March 2025 the company owed Mind in Gwent Limited £48,830 (2024: £41,591). As at 31 March 2025 the company declared a gift of £48,830 to Mind in Gwent Limited (2024: £41,591) in accordance with the deed of covenant.

11. Controlling party

During the year to 31 March 2025, the controlling party of the company was Mind in Gwent Limited.