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REGISTERED NUMBER: 08425875 (Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Tyddyn Talgoch Cyf

Tyddyn Talgoch Cyf (Registered number: 08425875)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Tyddyn Talgoch Cyf (Registered number: 08425875)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,085,000 1,395,000
Tangible assets 5 3,653,173 3,625,121
4,738,173 5,020,121

CURRENT ASSETS
Stocks 70,431 79,158
Debtors 6 15,136 48,488
Cash at bank and in hand 175,942 204,124
261,509 331,770
CREDITORS
Amounts falling due within one year 7 1,636,042 1,673,191
NET CURRENT LIABILITIES (1,374,533 ) (1,341,421 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,363,640

3,678,700

CREDITORS
Amounts falling due after more than one year 8 (3,112,275 ) (3,153,873 )

PROVISIONS FOR LIABILITIES (34,256 ) (25,557 )
NET ASSETS 217,109 499,270

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 217,009 499,170
SHAREHOLDERS' FUNDS 217,109 499,270

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Tyddyn Talgoch Cyf (Registered number: 08425875)

Balance Sheet - continued
31 October 2023


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 29 July 2024 and were signed on its behalf by:





Mr M W Roberts - Director


Tyddyn Talgoch Cyf (Registered number: 08425875)

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

1. STATUTORY INFORMATION

Tyddyn Talgoch Cyf is a private company, limited by shares , registered in Wales. The company's registered number and registered office address are as below:

Registered number: 08425875

Registered office: The Old Coalyard
Glandon Industrial Estate
Pwllheli
Gwynedd
LL53 5YT

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 2022, is being amortised evenly over its estimated useful life of five 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.

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.

Tyddyn Talgoch Cyf (Registered number: 08425875)

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

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 1,550,000
AMORTISATION
At 1 November 2022 155,000
Charge for year 310,000
At 31 October 2023 465,000
NET BOOK VALUE
At 31 October 2023 1,085,000
At 31 October 2022 1,395,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 3,418,896 295,896 3,714,792
Additions - 107,551 107,551
At 31 October 2023 3,418,896 403,447 3,822,343
DEPRECIATION
At 1 November 2022 - 89,671 89,671
Charge for year - 79,499 79,499
At 31 October 2023 - 169,170 169,170
NET BOOK VALUE
At 31 October 2023 3,418,896 234,277 3,653,173
At 31 October 2022 3,418,896 206,225 3,625,121

Included in cost of land and buildings is freehold land of £ 3,228,500 (2022 - £ 3,228,500 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 6,145 6,040
Amounts owed by group undertakings - 20,000
Other debtors 8,991 22,448
15,136 48,488

Tyddyn Talgoch Cyf (Registered number: 08425875)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 100,319 165,265
Hire purchase contracts 13,000 -
Trade creditors 210,510 125,789
Amounts owed to group undertakings 80,000 -
Taxation and social security 14,013 42,431
Other creditors 1,218,200 1,339,706
1,636,042 1,673,191

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 3,110,108 3,153,873
Hire purchase contracts 2,167 -
3,112,275 3,153,873

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,818,508 2,760,361

9. RELATED PARTY DISCLOSURES

Loans amounting to £1,240,800 received from the Director were brought forwards this year.

The total movement on the Directors loan account this year was a repayment of £25,000.

No interest has been charged on these loans and the total amount remaining unpaid at 31/10/2023 was £1,215,800.