Company registration number 10900895 (England and Wales)
CARTREF ANNWYL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
CARTREF ANNWYL LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Statement of changes in equity
1
Notes to the financial statements
4 - 10
CARTREF ANNWYL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 1 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2020
100
245,767
245,867
Year ended 30 September 2021:
Profit and total comprehensive income
-
215,799
215,799
Issue of share capital
11
100
-
100
Balance at 30 September 2021
200
461,566
461,766
Year ended 30 September 2022:
Profit and total comprehensive income
-
20,529
20,529
Balance at 30 September 2022
200
482,097
482,297
Closing PY differs from opening CY
-
2
2
Difference - opening bal of PY less adjusted closing bal of PPY
-
(1)
CARTREF ANNWYL LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2022
30 September 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
4
3,498
5,247
Tangible assets
5
874,196
877,629
Investments
6
1,153,199
1,153,199
2,030,893
2,036,075
Current assets
Debtors
8
457,889
476,843
Cash at bank and in hand
31,059
102,606
488,948
579,449
Creditors: amounts falling due within one year
9
(639,795)
(671,182)
Net current liabilities
(150,847)
(91,733)
Total assets less current liabilities
1,880,046
1,944,342
Creditors: amounts falling due after more than one year
10
(1,397,749)
(1,482,576)
Net assets
482,297
461,766
Capital and reserves
Called up share capital
11
200
200
Profit and loss reserves
482,097
461,566
Total equity
482,297
461,766
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CARTREF ANNWYL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2022
30 September 2022
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 September 2023 and are signed on its behalf by:
Mr S Joshi
Director
Company Registration No. 10900895
CARTREF ANNWYL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 4 -
1
Accounting policies
Company information
Cartref Annwyl Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 8, Oak Tree Court, Mulberry Drive, Cardiff Gate Business Park, Pontprennau, Cardiff, CF23 8RS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Prior period comparatives have been reclassified to align to the current period presentational approach.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
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.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years,
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
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.
CARTREF ANNWYL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.7
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 current liabilities.
CARTREF ANNWYL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 6 -
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
CARTREF ANNWYL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 7 -
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
4
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2021 and 30 September 2022
8,745
Amortisation and impairment
At 1 October 2021
3,498
Amortisation charged for the year
1,749
At 30 September 2022
5,247
Carrying amount
At 30 September 2022
3,498
At 30 September 2021
5,247
CARTREF ANNWYL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 8 -
5
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 October 2021 and 30 September 2022
860,468
5,448
22,084
888,000
Depreciation and impairment
At 1 October 2021
2,049
8,322
10,371
Depreciation charged in the year
680
2,753
3,433
At 30 September 2022
2,729
11,075
13,804
Carrying amount
At 30 September 2022
860,468
2,719
11,009
874,196
At 30 September 2021
860,468
3,399
13,762
877,629
6
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
1,153,196
1,153,196
Other investments other than loans
3
3
1,153,199
1,153,199
CARTREF ANNWYL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 9 -
7
Significant undertakings
The company also has significant holdings in undertakings which are not consolidated:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Cartref Annwyl Fan Ltd
Unit 8 Oak Tree Court, Mulberry Drive, Cardiff Gate Buiness Park, Pontprennau, Cardiff CF23 8RS
Ordinary
100.00
Cartref Annwyl (Ammanford) Ltd
Unit 8 Oak Tree Court, Mulberry Drive, Cardiff Gate Buiness Park, Pontprennau, Cardiff CF23 8RS
Ordinary
100.00
8
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
251,529
277,843
Other debtors
206,360
199,000
457,889
476,843
9
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
86,762
64,103
Corporation tax
49,603
103,956
Other creditors
503,430
503,123
639,795
671,182
10
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
1,397,749
1,482,576
11
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200
12
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
CARTREF ANNWYL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
12
Related party transactions
(Continued)
- 10 -
The following amounts were outstanding at the reporting end date:
2022
2021
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
258,888
277,843
The amount of new transactions during the year was £18,955
2022-09-302021-10-01false30 September 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr Sanjiv JoshiMrs Jyoti JoshiMrs J Joshi109008952021-10-012022-09-3010900895core:ShareCapital2020-09-3010900895core:RetainedEarningsAccumulatedLosses2020-09-3010900895core:ShareCapital2021-09-3010900895core:RetainedEarningsAccumulatedLosses2021-09-30109008952021-09-3010900895core:ShareCapital2022-09-3010900895core:RetainedEarningsAccumulatedLosses2022-09-30109008952022-09-3010900895core:RetainedEarningsAccumulatedLosses2020-10-012021-09-30109008952020-10-012021-09-3010900895core:RetainedEarningsAccumulatedLosses2021-10-012022-09-3010900895core:ShareCapital2020-10-012021-09-3010900895core:NetGoodwill2022-09-3010900895core:NetGoodwill2021-09-3010900895core:LandBuildingscore:OwnedOrFreeholdAssets2022-09-3010900895core:PlantMachinery2022-09-3010900895core:FurnitureFittings2022-09-3010900895core:LandBuildingscore:OwnedOrFreeholdAssets2021-09-3010900895core:PlantMachinery2021-09-3010900895core:FurnitureFittings2021-09-3010900895core:CurrentFinancialInstrumentscore:WithinOneYear2022-09-3010900895core:CurrentFinancialInstrumentscore:WithinOneYear2021-09-3010900895core:Non-currentFinancialInstrumentscore:AfterOneYear2022-09-3010900895core:Non-currentFinancialInstrumentscore:AfterOneYear2021-09-3010900895core:CurrentFinancialInstruments2022-09-3010900895core:CurrentFinancialInstruments2021-09-3010900895bus:Director12021-10-012022-09-3010900895core:Goodwill2021-10-012022-09-3010900895core:LandBuildingscore:OwnedOrFreeholdAssets2021-10-012022-09-3010900895core:PlantMachinery2021-10-012022-09-3010900895core:FurnitureFittings2021-10-012022-09-3010900895core:NetGoodwill2021-09-3010900895core:NetGoodwill2021-10-012022-09-3010900895core:LandBuildingscore:OwnedOrFreeholdAssets2021-09-3010900895core:PlantMachinery2021-09-3010900895core:FurnitureFittings2021-09-30109008952021-09-3010900895core:Non-currentFinancialInstruments2022-09-3010900895core:Non-currentFinancialInstruments2021-09-3010900895core:WithinOneYear2022-09-3010900895core:WithinOneYear2021-09-3010900895bus:PrivateLimitedCompanyLtd2021-10-012022-09-3010900895bus:SmallCompaniesRegimeForAccounts2021-10-012022-09-3010900895bus:FRS1022021-10-012022-09-3010900895bus:AuditExemptWithAccountantsReport2021-10-012022-09-3010900895bus:Director22021-10-012022-09-3010900895bus:CompanySecretary12021-10-012022-09-3010900895bus:FullAccounts2021-10-012022-09-30xbrli:purexbrli:sharesiso4217:GBP