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Company Registration No. 11566817 (England and Wales)
Gwernllan Ltd Unaudited accounts for the year ended 30 November 2023
Gwernllan Ltd Unaudited accounts Contents
Page
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Gwernllan Ltd Company Information for the year ended 30 November 2023
Directors
Gethin Edwards Sally Edwards
Company Number
11566817 (England and Wales)
Registered Office
EMBASSY OFFICES STANGATE HOUSE STANWELL ROAD PENARTH VALE OF GLAMORGAN CF64 2AA WALES
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Gwernllan Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
363,856 
563,976 
Debtors
891,761 
310,305 
Cash at bank and in hand
297 
668 
1,255,914 
874,949 
Creditors: amounts falling due within one year
(733,551)
(842,064)
Net current assets
522,363 
32,885 
Total assets less current liabilities
522,363 
32,885 
Creditors: amounts falling due after more than one year
(482,982)
- 
Net assets
39,381 
32,885 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
39,281 
32,785 
Shareholders' funds
39,381 
32,885 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by
Gethin Edwards Director Company Registration No. 11566817
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Gwernllan Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Gwernllan Ltd is a private company, limited by shares, registered in England and Wales, registration number 11566817. The registered office is EMBASSY OFFICES STANGATE HOUSE, STANWELL ROAD, PENARTH, VALE OF GLAMORGAN, CF64 2AA, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Charges
Swansea Building Society holds a fixed and floating charge and a negative pledge dated 12 January 2023 over Gwenllan Ltd on all monies, obligations and liabilities which may be due to Swansea Building Society now and in the future. (charge code 115668170002) Magnet Capital Limited holds a fixed and floating charge and a negative pledge dated 20 March 2019 over Gwenllan Ltd on all monies, obligations and liabilities which may be due to Magnet Capital Limited now and in the future. (charge code 115668170001)
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
6,116 
Amounts due from group undertakings etc.
440,411 
304,189 
Other debtors
451,350 
- 
891,761 
310,305 
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Gwernllan Ltd Notes to the Accounts for the year ended 30 November 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
297 
Amounts owed to group undertakings and other participating interests
329,496 
316,547 
Taxes and social security
12,887 
6,509 
Other creditors
26,943 
- 
Loans from directors
11,725 
17,271 
Accruals
352,500 
2,500 
Deferred income
- 
498,940 
733,551 
842,064 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
482,982 
- 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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