IRIS Accounts Production v24.1.9.2 04549265 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045492652022-10-31045492652023-10-31045492652022-11-012023-10-31045492652021-10-31045492652021-11-012022-10-31045492652022-10-3104549265ns15:EnglandWales2022-11-012023-10-3104549265ns14:PoundSterling2022-11-012023-10-3104549265ns10:Director12022-11-012023-10-3104549265ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3104549265ns10:SmallEntities2022-11-012023-10-3104549265ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3104549265ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3104549265ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3104549265ns10:FullAccounts2022-11-012023-10-3104549265ns10:Director22022-11-012023-10-3104549265ns10:CompanySecretary12022-11-012023-10-3104549265ns10:RegisteredOffice2022-11-012023-10-3104549265ns5:CurrentFinancialInstruments2023-10-3104549265ns5:CurrentFinancialInstruments2022-10-3104549265ns5:Non-currentFinancialInstruments2023-10-3104549265ns5:Non-currentFinancialInstruments2022-10-3104549265ns5:ShareCapital2023-10-3104549265ns5:ShareCapital2022-10-3104549265ns5:RevaluationReserve2023-10-3104549265ns5:RevaluationReserve2022-10-3104549265ns5:RetainedEarningsAccumulatedLosses2023-10-3104549265ns5:RetainedEarningsAccumulatedLosses2022-10-3104549265ns5:LandBuildings2022-10-3104549265ns5:PlantMachinery2022-10-3104549265ns5:LandBuildings2022-11-012023-10-3104549265ns5:PlantMachinery2022-11-012023-10-3104549265ns5:LandBuildings2023-10-3104549265ns5:PlantMachinery2023-10-3104549265ns5:LandBuildings2022-10-3104549265ns5:PlantMachinery2022-10-3104549265ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3104549265ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3104549265ns5:RevaluationReserve2022-10-3104549265ns5:RevaluationReserve2022-11-012023-10-31
REGISTERED NUMBER: 04549265 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Steil Cyf

Steil Cyf (Registered number: 04549265)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Steil Cyf

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs C Owen
Mr R W Owen





SECRETARY: Mrs C Owen





REGISTERED OFFICE: 73 High Street
Pwllheli
Gwynedd
LL53 5RR





REGISTERED NUMBER: 04549265 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Steil Cyf (Registered number: 04549265)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 186,809 162,796
Investment property 5 400,000 400,000
586,809 562,796

CURRENT ASSETS
Stocks 26,000 26,000
Debtors 6 199,734 273,559
Investments 7 10,000 10,000
Cash at bank and in hand 272,368 373,872
508,102 683,431
CREDITORS
Amounts falling due within one year 8 222,961 372,521
NET CURRENT ASSETS 285,141 310,910
TOTAL ASSETS LESS CURRENT
LIABILITIES

871,950

873,706

CREDITORS
Amounts falling due after more than one
year

9

(619,093

)

(626,593

)

PROVISIONS FOR LIABILITIES (56,026 ) (47,229 )
NET ASSETS 196,831 199,884

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 196,498 199,578
Retained earnings 233 206
SHAREHOLDERS' FUNDS 196,831 199,884

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.

Steil Cyf (Registered number: 04549265)

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 31 July 2024 and were signed on its behalf by:





Mrs C Owen - Director


Steil Cyf (Registered number: 04549265)

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

1. STATUTORY INFORMATION

Steil Cyf is a private company, limited by shares , registered in England and 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% Straight line
Improvement property - 2% Straight line
Plant and machinery - 20% Reducing balance
Fixtures and Fittings - 20% Reducing balance
Motor Vehicles - 20% Reducing balance
Computer equipment - 20% Reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Steil Cyf (Registered number: 04549265)

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 132,675 111,699 244,374
Additions - 41,244 41,244
Disposals - (21,495 ) (21,495 )
At 31 October 2023 132,675 131,448 264,123
DEPRECIATION
At 1 November 2022 19,684 61,894 81,578
Charge for year 2,653 10,070 12,723
Eliminated on disposal - (16,987 ) (16,987 )
At 31 October 2023 22,337 54,977 77,314
NET BOOK VALUE
At 31 October 2023 110,338 76,471 186,809
At 31 October 2022 112,991 49,805 162,796

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 400,000
NET BOOK VALUE
At 31 October 2023 400,000
At 31 October 2022 400,000

Steil Cyf (Registered number: 04549265)

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

5. INVESTMENT PROPERTY - continued

The investment property includes the following:

The Flat, 73 High Street, Pwllheli, Gwynedd, LL53 5RR which was measured using the fair value basis on 31st October 2023 by the Director and is valued at £130,000.

The Flat, 75 High Street, Pwllheli, Gwynedd LL53 5RR which was measured using the fair value basis on 31st October 2023 by the Director and is valued at £130,000.

15, Bodegroes Terrace, Efailnewydd, Pwllheli, Gwynedd was purchased 26th April 2017. The Property was measured using the fair value basis on 31st October 2023 by the Director and is valued at £140,000.

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 246,393
Cost 153,607
400,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 199,734 273,559

7. CURRENT ASSET INVESTMENTS
31.10.23 31.10.22
£    £   
Other 10,000 10,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts - 32
Trade creditors 193,539 318,190
Taxation and social security 24,600 47,454
Other creditors 4,822 6,845
222,961 372,521

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Amounts owed to group undertakings 619,093 626,593

Steil Cyf (Registered number: 04549265)

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

10. RESERVES
Revaluation
reserve
£   
At 1 November 2022 199,578
Revaluation (3,080 )

At 31 October 2023 196,498

11. RELATED PARTY DISCLOSURES

A dividend of £74,602 (£103,841 in 2022) has been paid to Steil Holdings Cyf during the year.

There is an amount owing of £619,093 (£626,593 in 2022) to Steil Holdings Cyf at the year end.

12. ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Steil Holdings Cyf.

Registered office address Adeilad St David's Building, Stryd Lombard Street, Porthmadog, Gwynedd, LL49 9AP, United Kingdom.