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REGISTERED NUMBER: 05861392 (England and Wales)










IVOR REES & SONS LTD

UNAUDITED CESSATION FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






IVOR REES & SONS LTD (REGISTERED NUMBER: 05861392)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

IVOR REES & SONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C Rees
Mrs S Rees





SECRETARY: Mrs S Rees





REGISTERED OFFICE: The Mill
Maenclochog
Clynderwen
Pembrokeshire
SA66 7JY





REGISTERED NUMBER: 05861392 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

IVOR REES & SONS LTD (REGISTERED NUMBER: 05861392)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 21,310 50,217
21,310 50,217

CURRENT ASSETS
Stocks - 11,500
Debtors 6 8,652 32,404
Cash at bank and in hand 515 10,711
9,167 54,615
CREDITORS
Amounts falling due within one year 7 26,090 74,614
NET CURRENT LIABILITIES (16,923 ) (19,999 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,387

30,218

PROVISIONS FOR LIABILITIES 5,399 5,399
NET (LIABILITIES)/ASSETS (1,012 ) 24,819

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,112 ) 24,719
SHAREHOLDERS' FUNDS (1,012 ) 24,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

IVOR REES & SONS LTD (REGISTERED NUMBER: 05861392)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 19 August 2024 and were signed on its behalf by:




C Rees - Director



Mrs S Rees - Director


IVOR REES & SONS LTD (REGISTERED NUMBER: 05861392)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ivor Rees & Sons 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
The company will cease trading on 31 March 2024 and the financial statements have been prepared on a basis other than that of the going concern basis.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and Machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

IVOR REES & SONS LTD (REGISTERED NUMBER: 05861392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 40,000
AMORTISATION
At 1 April 2023
and 31 March 2024 40,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property Machinery fittings
£    £    £   
COST
At 1 April 2023 24,577 25,939 3,408
Additions - - -
Disposals - (25,939 ) (3,408 )
At 31 March 2024 24,577 - -
DEPRECIATION
At 1 April 2023 2,775 16,039 2,199
Charge for year 492 - -
Eliminated on disposal - (16,039 ) (2,199 )
At 31 March 2024 3,267 - -
NET BOOK VALUE
At 31 March 2024 21,310 - -
At 31 March 2023 21,802 9,900 1,209

IVOR REES & SONS LTD (REGISTERED NUMBER: 05861392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 76,519 2,572 133,015
Additions - 123 123
Disposals (76,519 ) (2,695 ) (108,561 )
At 31 March 2024 - - 24,577
DEPRECIATION
At 1 April 2023 59,645 2,140 82,798
Charge for year - - 492
Eliminated on disposal (59,645 ) (2,140 ) (80,023 )
At 31 March 2024 - - 3,267
NET BOOK VALUE
At 31 March 2024 - - 21,310
At 31 March 2023 16,874 432 50,217

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,196 32,404
Other debtors 3,456 -
8,652 32,404

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,225 15,759
Trade creditors 10,276 21,950
Taxation and social security 754 23,261
Other creditors 5,835 13,644
26,090 74,614

8. RELATED PARTY DISCLOSURES

The company has use of property owned by Mr C Rees. No rental payments are made.

During the year the directors made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £2,579 (2023 £10,227).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
IVOR REES & SONS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ivor Rees & Sons Ltd for the year ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ivor Rees & Sons Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ivor Rees & Sons Ltd and state those matters that we have agreed to state to the Board of Directors of Ivor Rees & Sons Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ivor Rees & Sons Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ivor Rees & Sons Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ivor Rees & Sons Ltd. You consider that Ivor Rees & Sons Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ivor Rees & Sons Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP


Date: .............................................