Company No: 11007735 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	23,497		26,680
Investments	4	1,423,856		1,423,091
		1,447,353		1,449,771
Current assets
Debtors	5	741,084		598,095
Cash at bank and in hand		6,151		1,041
		747,235		599,136
Creditors: amounts falling due within one year	6	( 1,987,599)		( 1,591,606)
Net current liabilities		(1,240,364)		(992,470)
Total assets less current liabilities		206,989		457,301
Creditors: amounts falling due after more than one year	7	( 635,269)		( 638,418)
Provision for liabilities	8	( 300,000)		0
Net liabilities		( 728,280)		( 181,117)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 728,380 )		( 181,217 )
Total shareholders' deficit		( 728,280)		( 181,117)

For the financial year ending 31 March 2025 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 financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of SHE Group Management Limited (registered number: 11007735) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

C Girdlestone-Tingey Director

09 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SHE Group Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sedgeford Hall, Sedgeford, PE36 5LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £728,280. The Company is supported through loans from companies within the group. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the associated accounts will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either creditors or debtors in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	5 years straight line
Vehicles	5 years straight line
Office equipment	5 years straight line
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Associates and Joint Ventures are held at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		5

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	7,801		44,795		0		12,986		65,582
Additions	0		0		4,962		1,919		6,881
Disposals	( 7,801)		0		0		0		( 7,801)
At 31 March 2025	0		44,795		4,962		14,905		64,662
Accumulated depreciation
At 01 April 2024	7,801		21,818		0		9,283		38,902
Charge for the financial year	0		7,460		734		1,870		10,064
Disposals	( 7,801)		0		0		0		( 7,801)
At 31 March 2025	0		29,278		734		11,153		41,165
Net book value
At 31 March 2025	0		15,517		4,228		3,752		23,497
At 31 March 2024	0		22,977		0		3,703		26,680
Leased assets included above:
Net book value
At 31 March 2025	0		15,516		0		0		15,516
At 31 March 2024	0		22,976		0		0		22,976

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	1,423,091
Additions	765
At 31 March 2025	1,423,856
Carrying value at 31 March 2025	1,423,856
Carrying value at 31 March 2024	1,423,091

5. Debtors

	2025		2024
	£		£
Trade debtors	31,194		37,255
Amounts owed by own subsidiaries	700,990		501,707
Prepayments and accrued income	8,900		59,133
	741,084		598,095

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	15,044		17,253
Amounts owed to own subsidiaries	415,092		179,252
Amounts owed to associates	1,347,933		1,137,801
Amounts owed to directors	32,100		103,789
Accruals	3,605		3,000
Other taxation and social security	17,864		16,298
Obligations under finance leases and hire purchase contracts (secured)	3,149		3,435
Other creditors	152,812		130,778
	1,987,599		1,591,606

Net obligations held under hire purchase and finance leases are secured upon the assets to which they relate.

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

	2025		2024
	£		£
Other loans	612,000		612,000
Obligations under finance leases and hire purchase contracts (secured)	23,269		26,418
	635,269		638,418

Due to a group reorganisation, included within other loans are £612,000 of loan notes which are interest free and repayable in 2028.
Net obligations held under hire purchase and finance leases are secured upon the asset to which they relate.

8. Provision for liabilities

	2025		2024
	£		£
Other provisions	300,000		0

9. Financial commitments

Commitments

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

	2025		2024
	£		£
within one year	14,000		0
between one and five years	42,000		0
Total future minimum lease payments under non-cancellable operating leases	56,000		0

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £8,269 (2024: £9,099). The amounts payable to the fund at the year end amounted to £627 (2024: £678).

10. Related party transactions

Transactions with owners holding a participating interest in the entity

At 31 March 2025, the Company owed £1,347,933 (2024: £1,172,380) to companies which directors have beneficial interests in, they are repayable on demand and interest is payable at 10% per annum.

At 31 March 2025, the Company was owed £700,990 (2024: 513,879) by subsidiary companies, interest is charged at 10% per annum and they are repayable on demand. A provision has been made for a doubtful debt.

At 31 March 2025, the Company owed £415,092 (2024: 179,252) to subsidiary companies, it is repayable on demand and interest free.

At 31 March 2025, the Company was owed nil (2024: nil) by entities which directors have beneficial interests in, they are repayable on demand and interest free.

Included within prepayments and accrued income is nil, (2024: £45,000) which is owed by a subsidiary company.

Included within other loans is £612,000, of which £504,000 was owed to directors and £108,000 was owed to a director's family member, more details are found in note 7.

Transactions with the entity's directors

At 31 March 2025, the Company owed directors £32,100 (2024: £92,479). The loans are repayable on demand and interest free.

At 31 March 2025, family members of directors were owed £30,000 (2024: £30,000)

Guarantees

The Company owns a subsidiary company, of which has deferred consideration payable as at the year end totalling £Nil (2024: £100,000). A director and the parent company act as guarantors for the deferred consideration.