REGISTERED NUMBER: 13351435 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GOVERNANCE MINISTRIES 2 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R A Fleming

REGISTERED OFFICE:

226 Church Road

Willesden

London

NW10 9NR

REGISTERED NUMBER:

13351435 (England and Wales)

AUDITORS:

McCabe Ford Williams

Chartered Accountants and Statutory Auditors

Charlton House

Dour Street

Dover

Kent

CT16 1BL

FIXED ASSETS

Investments

4

488,473

514,523

CURRENT ASSETS

Cash at bank

204

303

CREDITORS

Amounts falling due within one year

5

405,460

404,720

NET CURRENT LIABILITIES

(405,256

)

(404,417

)

TOTAL ASSETS LESS CURRENT LIABILITIES

83,217

110,106

PROVISIONS FOR LIABILITIES

6

21,619

28,131

NET ASSETS

61,598

81,975

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

7

64,854

84,392

Retained earnings

(3,356

)

(2,517

)

61,598

81,975

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2025 and were signed by:

R A Fleming - Director

1.	STATUTORY INFORMATION

Governance Ministries 2 Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Fixed asset investments

Fixed Asset Investments are initially recorded at cost and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2024

514,523

Revaluations

(26,050

)

At 31 March 2025

488,473

NET BOOK VALUE

At 31 March 2025

488,473

At 31 March 2024

514,523

Cost or valuation at 31 March 2025 is represented by:

Other

investments

£

Valuation in 2023

121,143

Valuation in 2024

(8,620

)

Valuation in 2025

(26,050

)

Cost

402,000

488,473

During an earlier year, an investment in Mansion Garden Estates Ltd (MGE)(Company number 08698236) to the value of £182,000 was transferred into the company from Governance Ministries (Registered Charity 1051780) at their market value.

A further batch of shares in MGE were subscribed to in a subsequent year to the value of £220,000.

At the year end, the total shareholding in MGE was 16.01%.

Governance Ministries Charity is the sole shareholder of Governance Ministries 2 Ltd and the Ultimate Controlling Party.

The Director is also a director and non controlling shareholder in MGE.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

404,800

404,020

Accrued expenses

660

700

405,460

404,720

The intercompany loan creditor represents amounts lent to the Company by its parent in order to fund the Investments made. This loan is interest free and repayable on demand.

6.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

21,619

28,131

Deferred

tax

£

Balance at 1 April 2024

28,131

Provided during year

(6,512

)

Balance at 31 March 2025

21,619

7.

RESERVES

Fair

value

reserve

£

At 1 April 2024

84,392

Investment fair value

adjustment

(19,538

)

At 31 March 2025

64,854

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Sheather BSc FCA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

9.	CAPITAL COMMITMENTS

At the year end, the Company was committed to investing a further £2m into the share capital of Mansion Garden Estates Limited (MGE). This increased the shareholding in MGE from 16.01% to 47.46%

10.	GOING CONCERN

These financial statements have been prepared on a going concern basis on the basis that the parent charity will continue to support the company for the forseeable future. The parent charity has confirmed it is their intention to do so.