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REGISTERED NUMBER: 12269714 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2023

for

Furwen Ltd

Furwen Ltd (Registered number: 12269714)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Furwen Ltd

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mr R Rogers





REGISTERED OFFICE: Adeilad St Davids Building
Lombard Street
Porthmadog
LL49 9AP





REGISTERED NUMBER: 12269714 (England and Wales)





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

Furwen Ltd (Registered number: 12269714)

Balance Sheet
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,060 9,246

CURRENT ASSETS
Stocks - 3,500
Debtors 5 150,166 88,650
Cash at bank 10,905 44,592
161,071 136,742
CREDITORS
Amounts falling due within one year 6 83,267 54,426
NET CURRENT ASSETS 77,804 82,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

85,864

91,562

CREDITORS
Amounts falling due after more than one year 7 (32,354 ) (37,878 )

PROVISIONS FOR LIABILITIES (1,531 ) (1,757 )
NET ASSETS 51,979 51,927

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 50,979 50,927
51,979 51,927

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

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

Furwen Ltd (Registered number: 12269714)

Balance Sheet - continued
31st December 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 24th April 2024 and were signed on its behalf by:




Mr R Rogers - Director



Mr C R M Roberts - Director


Furwen Ltd (Registered number: 12269714)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Furwen Ltd 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment.

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

Biological assets, living plants and animals are included at the lower of cost and estimated selling price less cost to sell.

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.

Furwen Ltd (Registered number: 12269714)

Notes to the Financial Statements - continued
for the Year Ended 31st December 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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 16,023
Additions 829
At 31st December 2023 16,852
DEPRECIATION
At 1st January 2023 6,777
Charge for year 2,015
At 31st December 2023 8,792
NET BOOK VALUE
At 31st December 2023 8,060
At 31st December 2022 9,246

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 60,149 23,503
Other debtors 90,017 65,147
150,166 88,650

Furwen Ltd (Registered number: 12269714)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 6,573 6,573
Trade creditors 49,926 45,938
Taxation and social security 1,319 685
Other creditors 25,449 1,230
83,267 54,426

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 32,354 37,878

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,063 11,587

8. RELATED PARTY DISCLOSURES

During the year, the company paid £193,786 for goods and services provided by M & R S Rogers, a partnership in which the director is also a partner.