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TALBOT TREGARON CYFYNGEDIG

Registered Number
07154988
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

TALBOT TREGARON CYFYNGEDIG
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

TAYLOR, Michael Austin
TAYLOR, Nia Dow
WATKIN, Dafydd Wyn

Registered Address

Y Talbot
The Square
Tregaron
SY25 6JL

Registered Number

07154988 (England and Wales)
TALBOT TREGARON CYFYNGEDIG
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets61,530,1171,530,752
1,530,1171,530,752
Current assets
Stocks11,4629,876
Debtors739,01378,039
Cash at bank and on hand43,93056,912
94,405144,827
Creditors amounts falling due within one year8(209,531)(212,188)
Net current assets (liabilities)(115,126)(67,361)
Total assets less current liabilities1,414,9911,463,391
Creditors amounts falling due after one year(42,519)(68,894)
Net assets1,372,4721,394,497
Capital and reserves
Called up share capital1,470,8851,570,885
Profit and loss account(98,413)(176,388)
Shareholders' funds1,372,4721,394,497
The financial statements were approved and authorised for issue by the Board of Directors on 16 May 2023, and are signed on its behalf by:
TAYLOR, Nia Dow
Director
Registered Company No. 07154988
TALBOT TREGARON CYFYNGEDIG
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year2626
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 March 2250,00050,000
At 28 February 2350,00050,000
Amortisation and impairment
At 01 March 2250,00050,000
At 28 February 2350,00050,000
Net book value
At 28 February 23--
At 28 February 22--
6.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 March 221,521,088128,779172,2051,822,072
Additions-5,715-5,715
At 28 February 231,521,088134,494172,2051,827,787
Depreciation and impairment
At 01 March 22-123,102168,218291,320
Charge for year-3,2623,0886,350
At 28 February 23-126,364171,306297,670
Net book value
At 28 February 231,521,0888,1308991,530,117
At 28 February 221,521,0885,6773,9871,530,752
7.Debtors

2023

2022

££
Trade debtors / trade receivables1,1295,526
Other debtors37,88472,513
Total39,01378,039
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables44,85760,100
Bank borrowings and overdrafts24,68322,990
Taxation and social security19,54421,948
Other creditors116,572105,575
Accrued liabilities and deferred income3,8751,575
Total209,531212,188
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.