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REGISTERED NUMBER: 13539653 (Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TYDDYN CAE CYFYNGEDIG

TYDDYN CAE CYFYNGEDIG (REGISTERED NUMBER: 13539653)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4

Report of the accountants 9

TYDDYN CAE CYFYNGEDIG

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T Evans
I Ifans





REGISTERED OFFICE: 2 Llys Onnen
Ffordd y Llyn
Parc Menai
Bangor
Gwynedd
LL57 4DF





REGISTERED NUMBER: 13539653 (Wales)





ACCOUNTANTS: Fraser Wood Limited
Chartered Certified Accountants
2 Llys Onnen
Ffordd Y Llyn
Parc Menai
Bangor
Gwynedd
LL57 4DF

TYDDYN CAE CYFYNGEDIG (REGISTERED NUMBER: 13539653)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 14,000 16,400
Tangible assets 5 557,523 604,010
571,523 620,410

CURRENT ASSETS
Stocks 460,716 405,627
Debtors 6 107,315 142,452
Investments 7 42,151 26,761
Cash at bank 306,102 224,206
916,284 799,046
CREDITORS
Amounts falling due within one year 8 (244,402 ) (234,851 )
NET CURRENT ASSETS 671,882 564,195
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,243,405

1,184,605

CREDITORS
Amounts falling due after more than
one year

9

(300,000

)

(394,100

)

PROVISIONS FOR LIABILITIES (119,107 ) (128,478 )
NET ASSETS 824,298 662,027

TYDDYN CAE CYFYNGEDIG (REGISTERED NUMBER: 13539653)

BALANCE SHEET - continued
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 277,885 277,885
Retained earnings 546,313 384,042
SHAREHOLDERS' FUNDS 824,298 662,027

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.

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 6 August 2024 and were signed on its behalf by:





I Ifans - Director


TYDDYN CAE CYFYNGEDIG (REGISTERED NUMBER: 13539653)

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

1. STATUTORY INFORMATION

Tyddyn Cae Cyfyngedig is a private company, limited by shares , registered in 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:-

Computer equipment33% reducing balance
Milking parlour equipment10% reducing balance
Motor Vehicles15% reducing balance
Plant & machinery10% reducing balance
Sheds5% straight line
Slurry pit10% reducing balance

Stock
Biological assets are valued at fair value through the profit & loss. This includes making due allowance for home bred livestock, the current market and current demand.

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 balance sheet date.


TYDDYN CAE CYFYNGEDIG (REGISTERED NUMBER: 13539653)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 24,000
AMORTISATION
At 1 April 2023 7,600
Charge for year 2,400
At 31 March 2024 10,000
NET BOOK VALUE
At 31 March 2024 14,000
At 31 March 2023 16,400

TYDDYN CAE CYFYNGEDIG (REGISTERED NUMBER: 13539653)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 89,046 546,667 635,713
Additions 525 10,574 11,099
At 31 March 2024 89,571 557,241 646,812
DEPRECIATION
At 1 April 2023 4,024 27,679 31,703
Charge for year 4,452 53,134 57,586
At 31 March 2024 8,476 80,813 89,289
NET BOOK VALUE
At 31 March 2024 81,095 476,428 557,523
At 31 March 2023 85,022 518,988 604,010

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 - 370,513 370,513
Cost 89,571 186,728 276,299
89,571 557,241 646,812

If plant and machinery had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 153,042 126,599
Aggregate depreciation 27,185 10,481

Plant and machinery were valued on fair value basis on 28 February 2023 by I Ifans (director) .

TYDDYN CAE CYFYNGEDIG (REGISTERED NUMBER: 13539653)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 98,637 119,009
Other debtors 8,678 23,443
107,315 142,452

7. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Shares in Hufenfa de Arfon 42,151 26,761

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts - 11,667
Trade creditors 80,245 66,431
Taxation and social security 66,388 72,200
Other creditors 97,769 84,553
244,402 234,851

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 300,000 394,100

10. FINANCIAL INSTRUMENTS

The director's loan is a financial instrument and has formally structured loan terms.

The loan from T Evans, director & shareholder, to Tyddyn Cae Cyfyngedig is that of a basic financial liability of a small entity. As set out in FRS 102 paragraph 11.13A this financing transaction is measured initially at transaction price rather than be measured at the present value of the future payments discounted using the effective interest method.

At the end of each reporting period, the entity will measure this financial instrument as follows:-
-continue with the measurement of the director loan balance at transaction price.
- the effective interest rate is the interest rate implicit in the contract, which is 0%.

At 31 March 2024 directors loans of £69,233 are included in other creditors falling due within one year and £300,000 are included in other creditors falling due within more than one year.

TYDDYN CAE CYFYNGEDIG (REGISTERED NUMBER: 13539653)

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

11. RESERVES
Revaluatio
reserve
£   
At 1 April 2023
and 31 March 2024 277,885

12. TRANSACTIONS WITH DIRECTORS

The total directors loan balance at 31 March 2023 is £369,233 ( 31 March 2023, £444,100).

Rent of £60,000 was paid to the director T Evans during the 12-month period.

TYDDYN CAE CYFYNGEDIG

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
TYDDYN CAE CYFYNGEDIG

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 Balance sheet. 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 accounts of Tyddyn Cae Cyfyngedig for the year ended 31 March 2024 from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.






Fraser Wood Limited
Chartered Certified Accountants
2 Llys Onnen
Ffordd Y Llyn
Parc Menai
Bangor
Gwynedd
LL57 4DF


6 August 2024