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Registration number: 12724018

Wyn Developments Cardiff Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Wyn Developments Cardiff Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Wyn Developments Cardiff Limited

Company Information

Directors

Mr Philip Edwin Parry

Ms Sioned Wyn Roberts

Registered office

76 Plasturton Avenue
Cardiff
CF11 9HJ

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Wyn Developments Cardiff Limited

(Registration number: 12724018)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

158,568

140,439

Cash at bank and in hand

 

11

4

 

158,579

140,443

Creditors: Amounts falling due within one year

5

(140,113)

(122,135)

Net assets

 

18,466

18,308

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

18,366

18,208

Shareholders' funds

 

18,466

18,308

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 April 2024 and signed on its behalf by:
 

.........................................
Mr Philip Edwin Parry
Director

 

Wyn Developments Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
76 Plasturton Avenue
Cardiff
CF11 9HJ
Wales

These financial statements were authorised for issue by the Board on 3 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wyn Developments Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Debtors

Current

2023
£

2022
£

Other debtors

158,568

140,439

 

Wyn Developments Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

97

91

Taxation and social security

4,255

4,218

Accruals and deferred income

1,000

1,000

Other creditors

134,761

116,826

140,113

122,135

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Share Capital of £1 each

100

100

100

100

         

7

Related party transactions

Included in Other Creditors is amounts owed to the Directors of £59,984 (2022: £42,230). The balance is repayble on demand.

Transactions with directors

2023

At 1 August 2022
£

Repayments by director
£

At 31 July 2023
£

Mr Philip Edwin Parry

Amount owed to/(from) the director

21,115

8,877

29,992

       
     

Ms Sioned Wyn Roberts

Amounts owed to/(from) the director

21,115

8,877

29,992

       
     

 

 

Wyn Developments Cardiff Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

2022

At 1 August 2021
£

Repayments by director
£

At 31 July 2022
£

Mr Philip Edwin Parry

Amount owed to/(from) the director

10,738

10,377

21,115

       
     

Ms Sioned Wyn Roberts

Amounts owed to/(from) the director

10,738

10,377

21,115