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COMPANY REGISTRATION NUMBER: 10610754
Ty'r Felin Holdings Limited
Filleted Unaudited Financial Statements
For the year ended
28 March 2023
Ty'r Felin Holdings Limited
Financial Statements
Year ended 28 March 2023
Contents
Page
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Ty'r Felin Holdings Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Ty'r Felin Holdings Limited
Year ended 28 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 Ty'r Felin Holdings Limited for the year ended 28 March 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
CLAY SHAW THOMAS LTD Chartered accountants
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
21 December 2023
Ty'r Felin Holdings Limited
Statement of Financial Position
28 March 2023
2023
2022
(restated)
Note
£
£
£
Fixed assets
Investments
5
99
99
Current assets
Debtors
6
344,368
305,275
Cash at bank and in hand
270,021
214,707
---------
---------
614,389
519,982
Creditors: amounts falling due within one year
7
3,471
3,326
---------
---------
Net current assets
610,918
516,656
---------
---------
Total assets less current liabilities
611,017
516,755
---------
---------
Net assets
611,017
516,755
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
610,917
516,655
---------
---------
Shareholder funds
611,017
516,755
---------
---------
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 income statement has not been delivered.
For the year ending 28 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 member has 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 December 2023 , and are signed on behalf of the board by:
Mr D E Jones
Director
Company registration number: 10610754
Ty'r Felin Holdings Limited
Notes to the Financial Statements
Year ended 28 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 2 Tyn Y Coedcae Waterloo, Machen, Caerphilly, CF83 8LY, United Kingdom.
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.
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.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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 1 (2022: 1 ).
5. Investments
Shares in group undertakings
£
Cost
At 29 March 2022 as restated and 28 March 2023
99
----
Impairment
At 29 March 2022 as restated and 28 March 2023
----
Carrying amount
At 28 March 2023
99
----
At 28 March 2022
99
----
6. Debtors
2023
2022
(restated)
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
5,223
5,223
Other debtors
339,145
300,052
---------
---------
344,368
305,275
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
(restated)
£
£
Trade creditors
1,736
1,663
Other creditors
1,735
1,663
-------
-------
3,471
3,326
-------
-------
8. Director's advances, credits and guarantees
Included in other debtors is an amount of £296,526 (2022 : £304,977) owing from the director. Movement on the account during the year wer as follows :
2023
£
Balance owed from the director at 30 March 2022 304,977
Monies withdrawn 154,702
Monies introduced (178,000)
Interest charged 14,847
---------
Balance owed from the firector at 28 March 2023 296,526
---------