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REGISTERED NUMBER: 05098999 (Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Llaeth y Llan cyf

Llaeth y Llan cyf (Registered number: 05098999)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Llaeth y Llan cyf

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D G Roberts
Mrs F J Roberts
O E Roberts
Mrs L Roberts-Radford





SECRETARY: Mrs F J Roberts





REGISTERED OFFICE: Tal y Bryn
Llannefydd
Denbigh
LL16 5DR





REGISTERED NUMBER: 05098999 (Wales)





ACCOUNTANTS: Iona Edwards cyf
Chartered Accountant
19 Denbigh Street
Llanrwst
Conwy
LL26 0LL

Llaeth y Llan cyf (Registered number: 05098999)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,749,952 2,890,309
2,749,952 2,890,309

CURRENT ASSETS
Stocks 438,498 361,060
Debtors 6 1,326,182 1,202,965
Cash at bank and in hand 1,360,364 1,037,370
3,125,044 2,601,395
CREDITORS
Amounts falling due within one year 7 1,321,601 1,364,894
NET CURRENT ASSETS 1,803,443 1,236,501
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,553,395

4,126,810

CREDITORS
Amounts falling due after more than one year 8 1,187,673 1,404,897
NET ASSETS 3,365,722 2,721,913

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,365,622 2,721,813
SHAREHOLDERS' FUNDS 3,365,722 2,721,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





O E Roberts - Director


Llaeth y Llan cyf (Registered number: 05098999)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Llaeth y Llan cyf is a private company, limited by shares , registered in Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Llaeth y Llan cyf (Registered number: 05098999)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2022 - 55 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 100,000
AMORTISATION
At 1 April 2022
and 31 March 2023 100,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2022 1,575,842 180,102 3,138,233
Additions - - 131,497
At 31 March 2023 1,575,842 180,102 3,269,730
DEPRECIATION
At 1 April 2022 154,951 180,102 1,856,433
Charge for year 22,335 - 211,995
At 31 March 2023 177,286 180,102 2,068,428
NET BOOK VALUE
At 31 March 2023 1,398,556 - 1,201,302
At 31 March 2022 1,420,891 - 1,281,800

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 148,834 441,475 5,484,486
Additions - - 131,497
At 31 March 2023 148,834 441,475 5,615,983
DEPRECIATION
At 1 April 2022 107,704 294,987 2,594,177
Charge for year 8,226 29,298 271,854
At 31 March 2023 115,930 324,285 2,866,031
NET BOOK VALUE
At 31 March 2023 32,904 117,190 2,749,952
At 31 March 2022 41,130 146,488 2,890,309

Llaeth y Llan cyf (Registered number: 05098999)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 1,666,853
DEPRECIATION
At 1 April 2022 920,622
Charge for year 111,935
At 31 March 2023 1,032,557
NET BOOK VALUE
At 31 March 2023 634,296
At 31 March 2022 746,231

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 998,978 650,821
Other debtors 327,204 552,144
1,326,182 1,202,965

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 67,646 67,646
Hire purchase contracts 214,416 214,416
Trade creditors 518,654 564,325
Taxation and social security 89,311 28,152
Other creditors 431,574 490,355
1,321,601 1,364,894

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 681,194 724,271
Hire purchase contracts 506,479 680,626
1,187,673 1,404,897

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 410,611 453,688