REGISTERED NUMBER: |
COUNTRY WEDDINGS (CARDIFF) LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
REGISTERED NUMBER: |
COUNTRY WEDDINGS (CARDIFF) LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
COUNTRY WEDDINGS (CARDIFF) LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Elfed House |
Oak Tree Court |
Cardiff Gate Business Park |
CARDIFF |
County of Cardiff |
CF23 8RS |
COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045) |
BALANCE SHEET |
31 DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045) |
BALANCE SHEET - continued |
31 DECEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved for issue by the Board of Directors and authorised for issue on |
COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Country Weddings (Cardiff) Ltd is a |
The company's functional and presentational currency in the financial statements is the 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 |
There have been no material departures from Financial Reporting Standard 102 1A. |
Going concern |
At 31 December 2021 the company had net current liabilities of £410,097 (2020 - £537,658). The going concern basis is considered appropriate for the preparation of the financial statements due to the continued profitability of the company. |
The directors are satisfied that the company's financial statements are to be prepared on a going concern basis. The directors have taken steps to minimise the effect on the company and will continue to do so. In the circumstances they have concluded that no adjustments are required to the financial statements at this time. |
Turnover |
Turnover represents amounts invoiced in respect of the supply of wedding function and wedding planning services during the year excluding value added tax. |
Goodwill |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
Plant and machinery | - | 20 % straight line |
Fixtures and fittings | - | 10 - 20 % straight line |
Motor vehicles | - | 15 - 33 % straight line |
Improvements to property | - | 10 % straight line |
No depreciation has been provided on the freehold property as it is maintained to such a high standard that the director considers the residual value of the property to be at least equal to its cost. |
Fixed asset investments |
Fixed asset investments are valued at cost less impairment. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Current tax |
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. |
COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Non derivative financial instruments |
Basic financial instruments are recognised at amortised cost. |
Employee benefits |
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
AMORTISATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
Land and | to | Plant and |
Property | property | machinery |
£ | £ | £ |
COST |
At 1 January 2021 |
Additions |
Disposals | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by associates |
Other debtors |
Director's current account | 79,204 | 76,516 |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 6,655 | 38,633 |
Other creditors |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Hire purchase contracts |
Accruals and deferred income |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 990,098 | 1,074,962 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank loans |
Hire purchase contracts | 95,363 | 101,785 |
The bank loan is secured by way of a fixed and floating charge over the assets of the company. The hire purchase liability is secured over the associated asset. |
COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
Ordinary B | £1 | 1 | 1 |
Ordinary C | £1 | 1 | 1 |
3 | 3 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following loan to the directors subsisted during the years ended 31 December 2020 and 31 December 2019: |
2021 | 2020 |
£ | £ |
J Williams, J S Williams and A P Williams |
Balance outstanding at start of year | 76,516 | 57,362 |
Amounts advanced | 74,936 | 43,154 |
Amounts repaid | (72,248) | (24,000) |
Balance outstanding at end of year | 79,204 | 76,516 |
Interest has been charged on any overdrawn balances during the year at a commercial rate. The overdrawn balance is repayable within nine months of the year end. |