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REGISTERED NUMBER: 07034944 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023

FOR

MILFEDDYGON DOLGELLAU CYF

MILFEDDYGON DOLGELLAU CYF (REGISTERED NUMBER: 07034944)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MILFEDDYGON DOLGELLAU CYF

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTOR: Mr I W Parry





REGISTERED OFFICE: Gwynfynydd
Caedeintur
Dolgellau
Gwynedd
LL40 2YS





REGISTERED NUMBER: 07034944 (England and Wales)

MILFEDDYGON DOLGELLAU CYF (REGISTERED NUMBER: 07034944)

ABRIDGED BALANCE SHEET
30TH SEPTEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 110,649 110,649
Tangible assets 5 62,853 21,204
173,502 131,853

CURRENT ASSETS
Stocks 94,560 88,580
Debtors 242,931 247,518
Cash at bank 23,177 10,589
360,668 346,687
CREDITORS
Amounts falling due within one year 349,821 318,906
NET CURRENT ASSETS 10,847 27,781
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,349

159,634

CREDITORS
Amounts falling due after more than one
year

6

256,620

302,357
NET LIABILITIES (72,271 ) (142,723 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (72,272 ) (142,724 )
SHAREHOLDERS' FUNDS (72,271 ) (142,723 )

MILFEDDYGON DOLGELLAU CYF (REGISTERED NUMBER: 07034944)

ABRIDGED BALANCE SHEET - continued
30TH SEPTEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Profit and Loss and an abridged Balance Sheet for the year ended 30th September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th September 2024 and were signed by:





Mr I W Parry - Director


MILFEDDYGON DOLGELLAU CYF (REGISTERED NUMBER: 07034944)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

1. STATUTORY INFORMATION

Milfeddygon Dolgellau Cyf 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 2009, was being amortised evenly over its estimated useful life of twenty years. However the director believes that goodwill has a residual value of £125,000 and therefore there is no amortisation for this period.

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.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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


MILFEDDYGON DOLGELLAU CYF (REGISTERED NUMBER: 07034944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

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.

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.

Going concern basis of accounting
At the balance sheet date, the company`s liabilities exceeded its assets. The company is dependent on the support of the director and borrowing facilities provided by the company`s bankers. On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company`s accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company`s assets or liabilities that might be necessary should this basis not continue to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 30 ) .

MILFEDDYGON DOLGELLAU CYF (REGISTERED NUMBER: 07034944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

4. INTANGIBLE FIXED ASSETS
Totals
£
COST
At 1st October 2022
and 30th September 2023 158,070
AMORTISATION
At 1st October 2022
and 30th September 2023 47,421
NET BOOK VALUE

At 30th September 2023 110,649
At 30th September 2022 110,649

5. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1st October 2022 269,742
Additions 54,186
At 30th September 2023 323,928
DEPRECIATION
At 1st October 2022 248,538
Charge for year 12,537
At 30th September 2023 261,075
NET BOOK VALUE
At 30th September 2023 62,853
At 30th September 2022 21,204

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
2023 2022
£ £
Repayable by instalments
Bank loan 17,272 29,232

MILFEDDYGON DOLGELLAU CYF (REGISTERED NUMBER: 07034944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th September 2023 and 30th September 2022:

2023 2022
£ £
Mr I W Parry
Balance outstanding at start of year 10,000 10,000
Amounts advanced 2,412 10,000
Amounts repaid (10,000 ) (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,412 10,000