28 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 1,000 1,000 1,000 xbrli:pure xbrli:shares iso4217:GBP 02910078 2022-04-01 2023-03-31 02910078 2023-03-31 02910078 2022-03-31 02910078 2021-04-01 2022-03-31 02910078 2022-03-31 02910078 core:LandBuildings core:LongLeaseholdAssets 2022-04-01 2023-03-31 02910078 core:LandBuildings core:ShortLeaseholdAssets 2022-04-01 2023-03-31 02910078 core:PlantMachinery 2022-04-01 2023-03-31 02910078 core:FurnitureFittings 2022-04-01 2023-03-31 02910078 bus:Director4 2022-04-01 2023-03-31 02910078 core:LandBuildings core:LongLeaseholdAssets 2022-03-31 02910078 core:LandBuildings core:ShortLeaseholdAssets 2022-03-31 02910078 core:PlantMachinery 2022-03-31 02910078 core:FurnitureFittings 2022-03-31 02910078 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 02910078 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 02910078 core:PlantMachinery 2023-03-31 02910078 core:FurnitureFittings 2023-03-31 02910078 core:WithinOneYear 2023-03-31 02910078 core:WithinOneYear 2022-03-31 02910078 core:ShareCapital 2023-03-31 02910078 core:ShareCapital 2022-03-31 02910078 core:CapitalRedemptionReserve 2023-03-31 02910078 core:CapitalRedemptionReserve 2022-03-31 02910078 core:RetainedEarningsAccumulatedLosses 2023-03-31 02910078 core:RetainedEarningsAccumulatedLosses 2022-03-31 02910078 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 02910078 core:Non-currentFinancialInstruments 2023-03-31 02910078 core:Non-currentFinancialInstruments 2022-03-31 02910078 core:LandBuildings core:LongLeaseholdAssets 2022-03-31 02910078 core:LandBuildings core:ShortLeaseholdAssets 2022-03-31 02910078 core:PlantMachinery 2022-03-31 02910078 core:FurnitureFittings 2022-03-31 02910078 bus:SmallEntities 2022-04-01 2023-03-31 02910078 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02910078 bus:FullAccounts 2022-04-01 2023-03-31 02910078 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 02910078 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02910078 core:ComputerEquipment 2022-04-01 2023-03-31 02910078 core:ComputerEquipment 2022-03-31 02910078 core:ComputerEquipment 2023-03-31 02910078 core:AllSubsidiaries 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 02910078
Cymen Cyfyngedig
Filleted Unaudited Financial Statements
31 March 2023
Cymen Cyfyngedig
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
37,520
45,717
Investments
6
1,000
1,000
--------
--------
38,520
46,717
Current assets
Stocks
54,501
11,655
Debtors
7
1,104,157
994,706
Cash at bank and in hand
617,912
719,383
------------
------------
1,776,570
1,725,744
Creditors: amounts falling due within one year
8
317,361
284,006
------------
------------
Net current assets
1,459,209
1,441,738
------------
------------
Total assets less current liabilities
1,497,729
1,488,455
------------
------------
Net assets
1,497,729
1,488,455
------------
------------
Capital and reserves
Called up share capital
36,272
36,272
Capital redemption reserve
1,910
1,910
Profit and loss account
1,459,547
1,450,273
------------
------------
Shareholders funds
1,497,729
1,488,455
------------
------------
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.
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 .
Cymen Cyfyngedig
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 24 November 2023 , and are signed on behalf of the board by:
Mrs M W Cadwaladr
Director
Company registration number: 02910078
Cymen 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 England and Wales. The address of the registered office is Pen Deitsh, CAERNARFON, Gwynedd, LL55 AY.
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, 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Leasehold Property Improvements
-
2% straight line
Leasehold Fixtures & Fittings
-
10% straight line
Office Eqipment & Furniture
-
16% straight line
Staff Bicycles
-
25% straight line
Translation Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2022: 27 ).
5. Tangible assets
Leasehold property improvements
Leasehold Property Fixtures & Fittings
Office Equipment & Furniture
Staff Bikes
Translation Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2022
12,008
100,988
165,502
1,042
46,121
325,661
Additions
5,221
6,036
11,257
--------
---------
---------
-------
--------
---------
At 31 Mar 2023
12,008
100,988
170,723
1,042
52,157
336,918
--------
---------
---------
-------
--------
---------
Depreciation
At 1 Apr 2022
1,440
86,152
148,132
966
43,254
279,944
Charge for the year
240
9,352
7,736
76
2,050
19,454
--------
---------
---------
-------
--------
---------
At 31 Mar 2023
1,680
95,504
155,868
1,042
45,304
299,398
--------
---------
---------
-------
--------
---------
Carrying amount
At 31 Mar 2023
10,328
5,484
14,855
6,853
37,520
--------
---------
---------
-------
--------
---------
At 31 Mar 2022
10,568
14,836
17,370
76
2,867
45,717
--------
---------
---------
-------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2022 and 31 March 2023
1,000
-------
Impairment
At 1 April 2022 and 31 March 2023
-------
Carrying amount
At 31 March 2023
1,000
-------
At 31 March 2022
1,000
-------
7. Debtors
2023
2022
£
£
Trade debtors
329,976
221,198
Amounts owed by group undertakings and undertakings in which the company has a participating interest
772,181
771,508
Other debtors
2,000
2,000
------------
---------
1,104,157
994,706
------------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
423
601
Trade creditors
19,487
26,185
Corporation tax
73,085
76,211
Social security and other taxes
113,584
106,093
Other creditors
110,782
74,916
---------
---------
317,361
284,006
---------
---------
9. Directors' advances, credits and guarantees
There have been no directors' advances, credits & guarantees in the current year.
10. Related party transactions
Included in debtors is an amount of £772,210 due from the holding company .
11. Controlling party
The ultimate parent company is Cymen Holdings Limited .