2 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 08982997 2022-04-01 2023-03-31 08982997 2023-03-31 08982997 2022-03-31 08982997 2021-04-01 2022-03-31 08982997 2022-03-31 08982997 core:PlantMachinery 2022-04-01 2023-03-31 08982997 core:MotorVehicles 2022-04-01 2023-03-31 08982997 bus:RegisteredOffice 2022-04-01 2023-03-31 08982997 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 08982997 bus:Director1 2022-04-01 2023-03-31 08982997 bus:CompanySecretary1 2022-04-01 2023-03-31 08982997 core:PlantMachinery 2022-03-31 08982997 core:MotorVehicles 2022-03-31 08982997 core:PlantMachinery 2023-03-31 08982997 core:MotorVehicles 2023-03-31 08982997 core:WithinOneYear 2023-03-31 08982997 core:WithinOneYear 2022-03-31 08982997 core:ShareCapital 2023-03-31 08982997 core:ShareCapital 2022-03-31 08982997 core:RetainedEarningsAccumulatedLosses 2023-03-31 08982997 core:RetainedEarningsAccumulatedLosses 2022-03-31 08982997 core:PlantMachinery 2022-03-31 08982997 core:MotorVehicles 2022-03-31 08982997 bus:SmallEntities 2022-04-01 2023-03-31 08982997 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08982997 bus:FullAccounts 2022-04-01 2023-03-31 08982997 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08982997 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08982997 core:OtherRelatedParties 2022-04-01 2023-03-31 08982997 1 2022-04-01 2023-03-31
Company registration number: 08982997
Ymgynghorwyr Seilo Cyfyngedig
Unaudited filleted financial statements
31 March 2023
Ymgynghorwyr Seilo Cyfyngedig
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Ymgynghorwyr Seilo Cyfyngedig
Directors and other information
Director Mr Rhodri Gibson
Secretary Sara Gibson
Company number 08982997
Registered office Plas Gwyn
Penrhyncoch
Aberystwyth
SY23 3EF
Business address Plas Gwyn
Penrhyncoch
Aberystwyth
SY23 3EF
Accountants Davies Lewis Baker
31 Bridge Street
Aberystwyth
Ceredigion
SY23 1QB
Ymgynghorwyr Seilo Cyfyngedig
Report to the director on the preparation of the
unaudited statutory financial statements of Ymgynghorwyr Seilo Cyfyngedig
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ymgynghorwyr Seilo Cyfyngedig for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com /gb/en/about-us/regulation/rulebook.html.
This report is made solely to the director of Ymgynghorwyr Seilo Cyfyngedig, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Ymgynghorwyr Seilo Cyfyngedig and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ymgynghorwyr Seilo Cyfyngedig and its director as a body for our work or for this report.
It is your duty to ensure that Ymgynghorwyr Seilo Cyfyngedig has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ymgynghorwyr Seilo Cyfyngedig. You consider that Ymgynghorwyr Seilo Cyfyngedig is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Ymgynghorwyr Seilo Cyfyngedig. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Davies Lewis Baker
Association of Chartered Certified Accountants
31 Bridge Street
Aberystwyth
Ceredigion
SY23 1QB
5 October 2023
Ymgynghorwyr Seilo Cyfyngedig
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 17,495 23,364
_______ _______
17,495 23,364
Current assets
Debtors 6 25,476 22,642
Cash at bank and in hand 14,214 919
_______ _______
39,690 23,561
Creditors: amounts falling due
within one year 7 ( 27,994) ( 18,690)
_______ _______
Net current assets 11,696 4,871
_______ _______
Total assets less current liabilities 29,191 28,235
Provisions for liabilities ( 3,324) ( 4,439)
_______ _______
Net assets 25,867 23,796
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 25,767 23,696
_______ _______
Shareholders funds 25,867 23,796
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 October 2023 , and are signed on behalf of the board by:
Mr Rhodri Gibson
Director
Company registration number: 08982997
Ymgynghorwyr Seilo Cyfyngedig
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Plas Gwyn, Penrhyncoch, Aberystwyth, SY23 3EF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2022 7,014 27,267 34,281
Additions 257 - 257
_______ _______ _______
At 31 March 2023 7,271 27,267 34,538
_______ _______ _______
Depreciation
At 1 April 2022 4,101 6,816 10,917
Charge for the year 1,014 5,112 6,126
_______ _______ _______
At 31 March 2023 5,115 11,928 17,043
_______ _______ _______
Carrying amount
At 31 March 2023 2,156 15,339 17,495
_______ _______ _______
At 31 March 2022 2,913 20,451 23,364
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 25,476 22,642
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 11,726 7,297
Social security and other taxes 10,998 9,261
Other creditors 5,270 2,132
_______ _______
27,994 18,690
_______ _______
8. Related party transactions
The company paid dividends to its director amounting to £25,800 (31 March 2022: £23,100) during the year. The company also paid dividends to the director's wife amounting to £17,200 (31 March 2022: £15,400) during the year.
9. Controlling party
The company is controlled by its director and majority shareholder.