REGISTERED NUMBER: 03671957 (England and Wales)

GWENT MANAGEMENT SERVICES LIMITED

Unaudited Financial Statements

for the Period 1 June 2024 to 30 May 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J E Bull

A J Wall

J M Wall

SECRETARY:

J E Bull

REGISTERED OFFICE:

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

REGISTERED NUMBER:

03671957 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

46,276

78,761

CURRENT ASSETS

Debtors

5

542,480

523,461

Cash at bank

243,907

82,794

786,387

606,255

CREDITORS

Amounts falling due within one year

6

(970,961

)

(772,972

)

NET CURRENT LIABILITIES

(184,574

)

(166,717

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(138,298

)

(87,956

)

CREDITORS

Amounts falling due after more than one year

7

(17,739

)

(37,356

)

NET LIABILITIES

(156,037

)

(125,312

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

(156,039

)

(125,314

)

SHAREHOLDERS' FUNDS

(156,037

)

(125,312

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 May 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2026 and were signed on its behalf by:

J M Wall - Director

1.	STATUTORY INFORMATION

Gwent Management Services Limited 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 company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Going concern

At the year end, the company had net liabilities of £156,037 (2024 - £125,312), however the going concern basis of preparation of the financial statements is considered appropriate as the company has the continuing support of companies under common control to enable it to meet its' liabilities as they fall due for payment.

Turnover

Turnover represents amounts receivable in respect of plant and equipment hire, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Race horse

-

25% on cost

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on cost

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Non-derivative financial instruments

Basic financial instruments are recognised at amortised cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Race

Plant and

Motor

horse

machinery

vehicles

Totals

£

£

£

£

COST

At 1 June 2024

and 30 May 2025

9,600

116,468

128,350

254,418

DEPRECIATION

At 1 June 2024

9,600

112,496

53,561

175,657

Charge for period

-

397

32,088

32,485

At 30 May 2025

9,600

112,893

85,649

208,142

NET BOOK VALUE

At 30 May 2025

-

3,575

42,701

46,276

At 31 May 2024

-

3,972

74,789

78,761

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amount due from related

company

538,033

523,398

VAT

4,447

63

542,480

523,461

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

20,158

24,761

Amount due to company under common control

650,803

748,211

Other creditors

300,000

-

970,961

772,972

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

17,739

37,356

2025

2024

£

£

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

-

17,739

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire Purchase

37,897

62,117

The hire purchase liabilities are secured on the associated fixed asset.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2