Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31132023-01-01falseRailway11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01055353 2023-01-01 2023-12-31 01055353 2022-01-01 2022-12-31 01055353 2023-12-31 01055353 2022-12-31 01055353 c:Director1 2023-01-01 2023-12-31 01055353 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 01055353 d:Buildings d:LongLeaseholdAssets 2023-12-31 01055353 d:Buildings d:LongLeaseholdAssets 2022-12-31 01055353 d:PlantMachinery 2023-01-01 2023-12-31 01055353 d:PlantMachinery 2023-12-31 01055353 d:PlantMachinery 2022-12-31 01055353 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01055353 d:FurnitureFittings 2023-01-01 2023-12-31 01055353 d:FurnitureFittings 2023-12-31 01055353 d:FurnitureFittings 2022-12-31 01055353 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01055353 d:OfficeEquipment 2023-01-01 2023-12-31 01055353 d:OfficeEquipment 2023-12-31 01055353 d:OfficeEquipment 2022-12-31 01055353 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01055353 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 01055353 d:OtherPropertyPlantEquipment 2023-12-31 01055353 d:OtherPropertyPlantEquipment 2022-12-31 01055353 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01055353 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01055353 d:CurrentFinancialInstruments 2023-12-31 01055353 d:CurrentFinancialInstruments 2022-12-31 01055353 d:Non-currentFinancialInstruments 2023-12-31 01055353 d:Non-currentFinancialInstruments 2022-12-31 01055353 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01055353 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01055353 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01055353 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 01055353 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 01055353 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 01055353 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 01055353 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 01055353 d:ShareCapital 2023-12-31 01055353 d:ShareCapital 2022-12-31 01055353 d:RevaluationReserve 2023-12-31 01055353 d:RevaluationReserve 2022-12-31 01055353 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01055353 d:RetainedEarningsAccumulatedLosses 2023-12-31 01055353 d:RetainedEarningsAccumulatedLosses 2022-12-31 01055353 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01055353 c:OrdinaryShareClass1 2023-12-31 01055353 c:OrdinaryShareClass1 2022-12-31 01055353 c:FRS102 2023-01-01 2023-12-31 01055353 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01055353 c:FullAccounts 2023-01-01 2023-12-31 01055353 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01055353 2 2023-01-01 2023-12-31 01055353 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01055353










RHEILFFORDD LLYN TEGID LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
RHEILFFORDD LLYN TEGID LIMITED
REGISTERED NUMBER:01055353

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
235,751
203,762

  
235,751
203,762

Current assets
  

Stocks
  
48,432
26,491

Debtors: amounts falling due within one year
 6 
65,843
29,093

Cash at bank and in hand
 7 
352,208
447,399

  
466,483
502,983

Creditors: amounts falling due within one year
 8 
(132,557)
(178,666)

Net current assets
  
 
 
333,926
 
 
324,317

Total assets less current liabilities
  
569,677
528,079

Creditors: amounts falling due after more than one year
 9 
(24,025)
(33,691)

  

Net assets
  
545,652
494,388


Capital and reserves
  

Called up share capital 
 11 
53,190
53,190

Revaluation reserve
 12 
32,199
32,199

Profit and loss account
 12 
460,263
408,999

  
545,652
494,388


Page 1

 
RHEILFFORDD LLYN TEGID LIMITED
REGISTERED NUMBER:01055353
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 September 2024.




Dr D R Gwyn
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RHEILFFORDD LLYN TEGID LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Rheilffordd Llyn Tegid Limited is a private company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Gorsaf, Llanuwchlyn, Bala, Gwynedd, LL23 7DD.
The principal activity of the Company is running a railway.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
RHEILFFORDD LLYN TEGID LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
RHEILFFORDD LLYN TEGID LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Not depreciated
Plant and machinery
-
25%
Fixtures and fittings
-
25%
Office equipment
-
25%
Other fixed assets
-

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

The directors believe the residual value of the leasehold property is similar to that of the cost and therefore deprecation is not applied.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
RHEILFFORDD LLYN TEGID LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 


4.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 11).

Page 6

 
RHEILFFORDD LLYN TEGID LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 January 2023
182,771
63,541
11,459
2,573
1,788


Additions
30,686
-
8,735
-
-



At 31 December 2023

213,457
63,541
20,194
2,573
1,788



Depreciation


At 1 January 2023
-
50,951
4,477
1,472
1,470


Charge for the year on owned assets
-
3,148
3,929
275
80



At 31 December 2023

-
54,099
8,406
1,747
1,550



Net book value



At 31 December 2023
213,457
9,442
11,788
826
238



At 31 December 2022
182,771
12,591
6,981
1,101
318
Page 7

 
RHEILFFORDD LLYN TEGID LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2023
262,132


Additions
39,421



At 31 December 2023

301,553



Depreciation


At 1 January 2023
58,370


Charge for the year on owned assets
7,432



At 31 December 2023

65,802



Net book value



At 31 December 2023
235,751



At 31 December 2022
203,762


6.


Debtors

2023
2022
£
£


Trade debtors
638
898

Other debtors
54,255
19,512

Prepayments and accrued income
10,950
8,683

65,843
29,093


Page 8

 
RHEILFFORDD LLYN TEGID LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
352,208
447,399

352,208
447,399



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
18,953
65,182

Other taxation and social security
4,781
3,913

Other creditors
90,814
84,787

Accruals and deferred income
8,009
14,784

132,557
178,666


The amount of £10,000 (2022: £10,000) included in creditors due within one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
24,025
33,691

24,025
33,691


The amount of £24,025 (2022: £33,691) included in creditors due after one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

Page 9

 
RHEILFFORDD LLYN TEGID LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
14,025
23,691


14,025
23,691


34,025
43,691



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



53,190 (2022 - 53,190) Ordinary shares of £1.00 each
53,190
53,190



12.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.

 
Page 10