2022-11-01 2023-10-31 false Capium Accounts Production 1.1 03262592 bus:FullAccounts 2022-11-01 2023-10-31 03262592 bus:FRS102 2022-11-01 2023-10-31 03262592 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 03262592 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 03262592 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 03262592 2022-11-01 2023-10-31 03262592 2023-10-31 03262592 bus:RegisteredOffice 2022-11-01 2023-10-31 03262592 core:WithinOneYear 2023-10-31 03262592 core:AfterOneYear 2023-10-31 03262592 bus:Director1 2022-11-01 2023-10-31 03262592 bus:Director1 2023-10-31 03262592 bus:Director1 2021-11-01 2022-10-31 03262592 bus:Director2 2022-11-01 2023-10-31 03262592 bus:Director2 2023-10-31 03262592 bus:Director2 2021-11-01 2022-10-31 03262592 2021-11-01 03262592 bus:CompanySecretary1 2022-11-01 2023-10-31 03262592 bus:LeadAgentIfApplicable 2022-11-01 2023-10-31 03262592 2021-11-01 2022-10-31 03262592 2022-10-31 03262592 core:WithinOneYear 2022-10-31 03262592 core:AfterOneYear 2022-10-31 03262592 bus:EntityAccountantsOrAuditors 2021-11-01 2022-10-31 03262592 core:MotorCars 2022-11-01 2023-10-31 03262592 core:MotorCars 2023-10-31 03262592 core:MotorCars 2022-10-31 03262592 core:FurnitureFittings 2022-11-01 2023-10-31 03262592 core:FurnitureFittings 2023-10-31 03262592 core:FurnitureFittings 2022-10-31 03262592 core:InvestmentProperties 2022-11-01 2023-10-31 03262592 core:InvestmentProperties 2023-10-31 03262592 core:InvestmentProperties 2022-10-31 03262592 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-10-31 03262592 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-10-31 03262592 core:CostValuation core:Non-currentFinancialInstruments 2023-10-31 03262592 core:CostValuation core:Non-currentFinancialInstruments 2022-10-31 03262592 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-10-31 03262592 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2023-10-31 03262592 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2023-10-31 03262592 core:Non-currentFinancialInstruments 2023-10-31 03262592 core:Non-currentFinancialInstruments 2022-10-31 03262592 core:ShareCapital 2023-10-31 03262592 core:ShareCapital 2022-10-31 03262592 core:RetainedEarningsAccumulatedLosses 2023-10-31 03262592 core:RetainedEarningsAccumulatedLosses 2022-10-31 03262592 dpl:Item1 2022-11-01 03262592 dpl:Item1 2023-10-31 03262592 dpl:Item1 2021-11-01 03262592 dpl:Item1 2022-10-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: 03262592
England and Wales

 

 

 


Annual Report and Unaudited Financial Statements

for the year ended 31 October 2023

for

LLWYNCELYN DEVELOPMENTS LIMITED

 

 
Notes

 
2023
£

  2022
£
(as restated)
Fixed assets      
Tangible fixed assets 3 621,953    610,398 
621,953    610,398 
Current assets      
Debtors 4 10,245    36,698 
Cash at bank and in hand 3,257    7,858 
13,502    44,556 
Creditors: amount falling due within one year 5 (7,898)   (7,084)
Net current assets 5,604    37,472 
 
Total assets less current liabilities 627,557    647,870 
Creditors: amount falling due after more than one year 6 (356,096)   (351,717)
Provisions for liabilities 7 (68,332)   (72,761)
Net assets 203,129    223,392 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 203,127    223,390 
Shareholders' funds 203,129    223,392 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 July 2024 and were signed on its behalf by:


-------------------------------
Stephen Cameron
Director
1
General Information
Llwyncelyn Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 03262592, registration address 6 Nuns Crescent, Pontypridd, Rhondda Cynon Taff, CF37 2EW.

The presentation currency is £ sterling.
1.

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
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard).


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.



Restatement of comparatives
The revaluation reserve has been merged with the profit and loss account reserve. This has no overall effect on the balance sheet total.
Turnover
Turnover comprises the fair value of the consideration received or receivable for rent and provision of services in the ordinary course of the companys activities. Turnover is shown net of 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 deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

















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.
Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.


The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.


Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:





Fixtures and Fittings 25% Straight Line
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.


Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.


Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.



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.




2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Investment properties   Total
  £   £   £   £
At 01 November 2022   3,075    610,000    613,075 
Additions 15,468    202      15,670 
Disposals      
At 31 October 2023 15,468    3,277    610,000    628,745 
Depreciation
At 01 November 2022   2,677      2,677 
Charge for year 3,867    248      4,115 
On disposals      
At 31 October 2023 3,867    2,925      6,792 
Net book values
Closing balance as at 31 October 2023 11,601    352    610,000    621,953 
Opening balance as at 01 November 2022   398    610,000    610,398 

Included within the net book value of land and buildings above is £610,000 (2022 - £610,000) in respect of freehold and and buildings.

Revaluation
The fair value of the company's freehold property was revalued on 31 October 2023. An independent valuer was not involved.
The properties were revalued by the company directors on an open market value basis.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £97,654 (2022- £97,654).

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   895 
Other Debtors 10,245    35,803 
10,245    36,698 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Other Creditors 7,898    7,084 
7,898    7,084 
Creditors includes HP liabilities of £1,094 (2022 - nil) which are secured on the asset.

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 351,722    351,717 
Other Creditors 4,374   
356,096    351,717 
Creditors include interest only mortgages which are secured of £351,722 (2022 - £351,717).

Also, creditors includes HP liabilities of £4,374 (2022 - nil) which are secured on the asset.


Creditors include interest only mortgages repayable by instalments of £351,722 (2022 - £351,717), due after more than five years.

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 68,332    72,761 
68,332    72,761 

8.

Advances and Credits



Lynne Cameron, Director
Loan to Mrs L Cameron (interest charged at 2.00% / 2.25%)

Stephen Cameron, Director
Loan to Mr S Cameron (interest charged at 2.00%/2.25%)

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Lynne Cameron, Director19,426 243 18,847 822 
Stephen Cameron, Director5,887 85 3,846 2,126 
25313032822693002948
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Lynne Cameron, Director29,398 483 10,455 19,426 
Stephen Cameron, Director7,343 1,456 5,887 
367410483119110025313
2