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REGISTERED NUMBER: 07666045 (England and Wales)















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: J Williams
J S Williams
A P Williams





REGISTERED OFFICE: Pencoed House
Llantrisant Road
Capel Llanilltern
CARDIFF
CF5 6JR





REGISTERED NUMBER: 07666045 (England and Wales)





ACCOUNTANTS: Watts Gregory LLP
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 4 108,333 133,333
Tangible assets 5 2,311,100 2,378,554
Investments 6 45,926 45,926
2,465,359 2,557,813

CURRENT ASSETS
Stocks 53,120 13,972
Debtors 7 294,900 519,575
Cash at bank and in hand 321,374 63,024
669,394 596,571
CREDITORS
Amounts falling due within one year 8 (1,079,491 ) (1,134,229 )
NET CURRENT LIABILITIES (410,097 ) (537,658 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,055,262

2,020,155

CREDITORS
Amounts falling due after more than one
year

9

(1,485,942

)

(1,654,878

)

PROVISIONS FOR LIABILITIES (22,119 ) (23,645 )
NET ASSETS 547,201 341,632

CAPITAL AND RESERVES
Called up share capital 11 3 3
Retained earnings 547,198 341,629
SHAREHOLDERS' FUNDS 547,201 341,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

COUNTRY WEDDINGS (CARDIFF) LTD (REGISTERED NUMBER: 07666045)

BALANCE SHEET - continued
31 DECEMBER 2021


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 for issue by the Board of Directors and authorised for issue on 2 September 2022 and were signed on its behalf by:





J Williams - Director


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 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 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
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 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
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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 18 (2020 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 250,000
AMORTISATION
At 1 January 2021 116,667
Charge for year 25,000
At 31 December 2021 141,667
NET BOOK VALUE
At 31 December 2021 108,333
At 31 December 2020 133,333

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 1,787,456 539,474 77,441
Additions - - 25,279
Disposals - - (29,167 )
At 31 December 2021 1,787,456 539,474 73,553
DEPRECIATION
At 1 January 2021 - 139,421 50,235
Charge for year - 39,455 5,940
Eliminated on disposal - - (15,918 )
At 31 December 2021 - 178,876 40,257
NET BOOK VALUE
At 31 December 2021 1,787,456 360,598 33,296
At 31 December 2020 1,787,456 400,053 27,206

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2021 168,964 210,890 2,784,225
Additions 10,672 - 35,951
Disposals - (31,000 ) (60,167 )
At 31 December 2021 179,636 179,890 2,760,009
DEPRECIATION
At 1 January 2021 115,441 100,577 405,674
Charge for year 18,916 20,842 85,153
Eliminated on disposal - (26,000 ) (41,918 )
At 31 December 2021 134,357 95,419 448,909
NET BOOK VALUE
At 31 December 2021 45,279 84,471 2,311,100
At 31 December 2020 53,523 110,313 2,378,551

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2021
and 31 December 2021 45,926
NET BOOK VALUE
At 31 December 2021 45,926
At 31 December 2020 45,926

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 51,192 17,527
Other debtors 60,613 354,965
Director's current account 79,204 76,516
Prepayments and accrued income 103,891 70,567
294,900 519,575

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 124,562 151,508
Hire purchase contracts 84,117 24,606
Trade creditors 55,279 50,867
Corporation tax 78,670 34,822
Social security and other taxes 7,650 10,863
VAT 6,655 38,633
Other creditors 16,069 12,225
Accruals and deferred income 706,489 810,705
1,079,491 1,134,229

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 1,432,863 1,521,432
Hire purchase contracts 11,246 77,179
Accruals and deferred income 41,833 56,267
1,485,942 1,654,878

Amounts falling due in more than five years:

Repayable by instalments
Bank loans990,0981,074,962

10. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 1,557,425 1,672,940
Hire purchase contracts 95,363 101,785
1,652,788 1,774,725

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: £    £   
1 Ordinary £1 1 1
1 Ordinary B £1 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:

20212020
££
J Williams, J S Williams and A P Williams
Balance outstanding at start of year76,51657,362
Amounts advanced74,93643,154
Amounts repaid(72,248)(24,000)
Balance outstanding at end of year79,20476,516

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.