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REGISTERED NUMBER: 12372583 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

G & M Rowlands Cyf

G & M Rowlands Cyf (Registered number: 12372583)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

G & M Rowlands Cyf

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs M L Rowlands
Mr G R Rowlands





REGISTERED OFFICE: Pennant Farm
Carmel
Llanrwst
LL26 0PD





REGISTERED NUMBER: 12372583 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

G & M Rowlands Cyf (Registered number: 12372583)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,013 1,666

CURRENT ASSETS
Stocks 122,925 125,625
Debtors 5 - 2,500
Cash at bank 1,377 1,778
124,302 129,903
CREDITORS
Amounts falling due within one year 6 74,043 71,647
NET CURRENT ASSETS 50,259 58,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,272

59,922

CREDITORS
Amounts falling due after more than one
year

7

(63,883

)

(60,066

)

PROVISIONS FOR LIABILITIES (3,232 ) (317 )
NET ASSETS/(LIABILITIES) 157 (461 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57 (561 )
157 (461 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

G & M Rowlands Cyf (Registered number: 12372583)

Balance Sheet - continued
31 December 2023


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 23 September 2024 and were signed on its behalf by:




Mr G R Rowlands - Director



Mrs M L Rowlands - Director


G & M Rowlands Cyf (Registered number: 12372583)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

G & M Rowlands 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.

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.

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

Plant & Machinery - 20% reducing balance

Fixed assets are stated at their cost prices less accumulated depreciation and less any amounts recognized in respect of any impairment.

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

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

The current value is £122,925 (2022 - £125,625).

Fuel, oil and other business related deadlock are valued at the lower of cost and net realisable value, after making allowance for obsolete, impaired or slow moving items within the other stock on hand.

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.

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.

G & M Rowlands Cyf (Registered number: 12372583)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 3,254
Additions 19,600
At 31 December 2023 22,854
DEPRECIATION
At 1 January 2023 1,588
Charge for year 4,253
At 31 December 2023 5,841
NET BOOK VALUE
At 31 December 2023 17,013
At 31 December 2022 1,666

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 2,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 4,009 -
Trade creditors - 1,131
Taxation and social security 289 246
Other creditors 69,745 70,270
74,043 71,647

G & M Rowlands Cyf (Registered number: 12372583)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 10,726 -
Other creditors 53,157 60,066
63,883 60,066

8. RELATED PARTY DISCLOSURES

During the year the director accumulated funds within an in-credit director's loan accounts, which at the year end amounted to a total of £69,065 (2022 - £69,671) .

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
G & M Rowlands Cyf

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 financial statements of G & M Rowlands Cyf for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet 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 G & M Rowlands Cyf, 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 G & M Rowlands Cyf and state those matters that we have agreed to state to the Board of Directors of G & M Rowlands Cyf, 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 G & M Rowlands Cyf and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G & M Rowlands Cyf 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 profit of G & M Rowlands Cyf. You consider that G & M Rowlands Cyf 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 G & M Rowlands Cyf. 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.






Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP


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