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Company registration number: 10468825
Cwmni Singrug Cyf
Unaudited filleted financial statements
30 November 2023
Cwmni Singrug Cyf
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Cwmni Singrug Cyf
Directors and other information
Directors H A Edwards
B A Edwards
Secretary H A Edwards
Company number 10468825
Registered office Llwyn Celyn
Llanuwchlyn
Y Bala
Gwynedd
LL23 7TW
Accountants Hill & Roberts
1 Tan y Castell
Ruthin
Denbighshire
LL15 1DQ
Cwmni Singrug Cyf
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 225,012 255,916
_______ _______
225,012 255,916
Current assets
Debtors 5 38,738 67,536
Cash at bank and in hand 10,787 5,285
_______ _______
49,525 72,821
Creditors: amounts falling due
within one year 6 ( 182,484) ( 276,307)
_______ _______
Net current liabilities ( 132,959) ( 203,486)
_______ _______
Total assets less current liabilities 92,053 52,430
Creditors: amounts falling due
after more than one year 7 - ( 3,800)
Provisions for liabilities ( 33,208) ( 39,080)
_______ _______
Net assets 58,845 9,550
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 58,745 9,450
_______ _______
Shareholders funds 58,845 9,550
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 August 2024 , and are signed on behalf of the board by:
H A Edwards
Director
Company registration number: 10468825
Cwmni Singrug Cyf
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Llwyn Celyn, Llanuwchlyn, Y Bala, Gwynedd, LL23 7TW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - Depreciation not provided on land only
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 December 2022 and 30 November 2023 50,231 372,254 934 423,419
_______ _______ _______ _______
Depreciation
At 1 December 2022 - 167,094 409 167,503
Charge for the year - 30,773 131 30,904
_______ _______ _______ _______
At 30 November 2023 - 197,867 540 198,407
_______ _______ _______ _______
Carrying amount
At 30 November 2023 50,231 174,387 394 225,012
_______ _______ _______ _______
At 30 November 2022 50,231 205,160 525 255,916
_______ _______ _______ _______
5. Debtors
2023 2022
£ £
Trade debtors - 10,327
Other debtors 38,738 57,209
_______ _______
38,738 67,536
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 269
Social security and other taxes 2,257 1,802
Other creditors 180,227 274,236
_______ _______
182,484 276,307
_______ _______
7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors - 3,800
_______ _______