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Registration number: 10220679

Cleddau Communications Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Cleddau Communications Ltd

(Registration number: 10220679)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

16,716

19,847

Current assets

 

Debtors

6

15,846

38,190

Cash at bank and in hand

 

23

148

 

15,869

38,338

Creditors: Amounts falling due within one year

7

(99,415)

(90,202)

Net current liabilities

 

(83,546)

(51,864)

Total assets less current liabilities

 

(66,830)

(32,017)

Creditors: Amounts falling due after more than one year

7

(8,700)

(8,700)

Net liabilities

 

(75,530)

(40,717)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(75,531)

(40,718)

Total equity

 

(75,530)

(40,717)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 3 September 2024
 

.........................................
Mr R Kilcoyne
Director

   
     
 

Cleddau Communications Ltd

Notes to the Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
15 Milward Close
Haverfordwest
SA61 2SS

These financial statements were authorised for issue by the director on 3 September 2024.

2

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis. The director believes that this is appropriate as this year's trading includes initial start up costs which will not recur and the business will increase its profitability in future years.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

Tangible 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.

 

Cleddau Communications Ltd

Notes to the Financial Statements for the Year Ended 31 May 2024

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:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

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.

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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Cleddau Communications Ltd

Notes to the Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

3,131

3,772

 

Cleddau Communications Ltd

Notes to the Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

22,621

1,276

23,897

At 31 May 2024

22,621

1,276

23,897

Depreciation

At 1 June 2023

3,629

421

4,050

Charge for the year

2,849

282

3,131

At 31 May 2024

6,478

703

7,181

Carrying amount

At 31 May 2024

16,143

573

16,716

At 31 May 2023

18,992

855

19,847

6

Debtors

2024
£

2023
£

Trade debtors

7,878

1,896

Prepayments

7,968

30,733

Other debtors

-

5,561

15,846

38,190

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

253

123

Taxation and social security

 

362

-

Other related parties

10

98,109

89,776

Accrued expenses

 

691

303

 

99,415

90,202

Due after one year

 

Loans and borrowings

9

8,700

8,700

Creditors: amounts falling due after more than one year

 

Cleddau Communications Ltd

Notes to the Financial Statements for the Year Ended 31 May 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

8,700

8,700

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

8,700

8,700

 

Cleddau Communications Ltd

Notes to the Financial Statements for the Year Ended 31 May 2024

10

Related party transactions

During the year, the director loaned money to the company. The total money owed amounts to £1,146. This loan is interest free and repayable on demand.

Transactions with directors

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Mr R Kilcoyne

Interest free loan repayable on demand

89,776

(3,933)

12,266

98,109

         
       

 

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Mr R Kilcoyne

Interest free loan repayable on demand

2,646

(154)

87,283

89,776

         
       

 

Summary of transactions with other related parties

The loan was provided by Wideload Escorts Limited which is controlled by J Kilcoyne, the father of the director.
 

Loans to related parties

2024

Key management
£

At start of period

1,146

2023

Key management
£

At start of period

1,146

Loans from related parties

2024

Other related parties
£

At start of period

8,700

2023

Other related parties
£

At start of period

8,700

Terms of loans from related parties

This loan is interest free and repayable on demand.