3 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 150,000 150,000 xbrli:pure xbrli:shares iso4217:GBP 06052817 2022-04-01 2023-03-31 06052817 2023-03-31 06052817 2022-03-31 06052817 2021-04-01 2022-03-31 06052817 2022-03-31 06052817 core:FurnitureFittings 2022-04-01 2023-03-31 06052817 bus:Director2 2022-04-01 2023-03-31 06052817 core:NetGoodwill 2023-03-31 06052817 core:LandBuildings 2022-03-31 06052817 core:FurnitureFittings 2022-03-31 06052817 core:LandBuildings 2023-03-31 06052817 core:FurnitureFittings 2023-03-31 06052817 core:LandBuildings 2022-04-01 2023-03-31 06052817 core:WithinOneYear 2023-03-31 06052817 core:WithinOneYear 2022-03-31 06052817 core:AfterOneYear 2023-03-31 06052817 core:AfterOneYear 2022-03-31 06052817 core:ShareCapital 2023-03-31 06052817 core:ShareCapital 2022-03-31 06052817 core:RetainedEarningsAccumulatedLosses 2023-03-31 06052817 core:RetainedEarningsAccumulatedLosses 2022-03-31 06052817 core:LandBuildings 2022-03-31 06052817 core:FurnitureFittings 2022-03-31 06052817 bus:SmallEntities 2022-04-01 2023-03-31 06052817 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06052817 bus:FullAccounts 2022-04-01 2023-03-31 06052817 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06052817 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06052817 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06052817 core:NetGoodwill 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 06052817
R D Williams Cyf
Filleted Unaudited Financial Statements
For the year ended
31 March 2023
R D Williams Cyf
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
14,119
15,075
Current assets
Debtors
7
15,169
19,533
Cash at bank and in hand
58,840
41,665
--------
--------
74,009
61,198
Creditors: amounts falling due within one year
8
19,190
17,224
--------
--------
Net current assets
54,819
43,974
--------
--------
Total assets less current liabilities
68,938
59,049
Creditors: amounts falling due after more than one year
9
( 37,354)
( 42,499)
Provisions
Taxation including deferred tax
977
1,124
--------
--------
Net assets
30,607
15,426
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
30,507
15,326
--------
--------
Shareholders funds
30,607
15,426
--------
--------
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 comprehensive income has not been delivered.
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
R D Williams Cyf
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 18 October 2023 , and are signed on behalf of the board by:
Mr G D Williams
Director
Company registration number: 06052817
R D Williams Cyf
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Thomas Buildings, Lon Dywod, Pwllheli, Gwynedd, LL53 5HH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents commissions earned during the year.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company`s accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current rates and laws.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% of cost
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Improvements to rented premises
-
2% of cost
Equipment, fixtures and fittings
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
150,000
---------
Amortisation
At 1 April 2022 and 31 March 2023
150,000
---------
Carrying amount
At 31 March 2023
---------
At 31 March 2022
---------
6. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2022
11,840
61,007
72,847
Additions
514
514
--------
--------
--------
At 31 March 2023
11,840
61,521
73,361
--------
--------
--------
Depreciation
At 1 April 2022
2,682
55,090
57,772
Charge for the year
183
1,287
1,470
--------
--------
--------
At 31 March 2023
2,865
56,377
59,242
--------
--------
--------
Carrying amount
At 31 March 2023
8,975
5,144
14,119
--------
--------
--------
At 31 March 2022
9,158
5,917
15,075
--------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
14,869
14,774
Other debtors
300
4,759
--------
--------
15,169
19,533
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,400
2,400
Trade creditors
1,908
1,741
Corporation tax
14,270
11,244
Social security and other taxes
612
1,839
--------
--------
19,190
17,224
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,615
8,000
Other creditors
32,739
34,499
--------
--------
37,354
42,499
--------
--------
10. Directors' advances, credits and guarantees
There are no Directors' advances, credits or guarantees that need to be disclosed in the financial statements.
11. Related party transactions
During the year the company paid rent of £9,900 (2022 £9,900) to a Director for the premises occupied by the company which are owned by the Director.