Company registration number 10122299 (England and Wales)
YMLAEN LLANELLI LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
YMLAEN LLANELLI LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
YMLAEN LLANELLI LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
285
375
Current assets
Debtors
4
9,000
31,772
Cash at bank and in hand
38,668
64,465
47,668
96,237
Creditors: amounts falling due within one year
5
(30,078)
(27,767)
Net current assets
17,590
68,470
Net assets
17,875
68,845
Reserves
Income and expenditure account
17,875
68,845
Members' funds
17,875
68,845

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

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

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 24 September 2024 and are signed on its behalf by:
Lesley Richards
Director
Company registration number 10122299 (England and Wales)
YMLAEN LLANELLI LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Ymlaen Llanelli Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 10 John Street, Llanelli, Carmarthenshire, SA15 1UH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.3
Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing differences.

2
Employees
2024
2023
Number
Number
Total
9
8
YMLAEN LLANELLI LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
1,068
Depreciation and impairment
At 1 April 2023
693
Depreciation charged in the year
90
At 31 March 2024
783
Carrying amount
At 31 March 2024
285
At 31 March 2023
375
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
8,530
26,693
Other debtors
470
5,079
9,000
31,772
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,967
1,540
Taxation and social security
26,061
23,971
Other creditors
2,050
2,256
30,078
27,767
6
Related party transactions

The directors are not remunerated for work undertaken in their role as Board members.

A total of £35,767 was paid to The Means Ltd for the part time services of a business manager and a marketing and events coordinator and has been charged in the accounts as follows :- Events & marketing support £12,561 and Management consultancy fees £23,206. These combined costs cover :- Core costs £4,330, Boosting marketing £14,064, Enhancing experience £1,812, and Developing strategy £3,000.

7
Lease commitments

At 31 March 2024 the company had commitments under non-cancellable operating leases over the remaining life of those leases of £250

YMLAEN LLANELLI LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
8
Value added Tax

The company is currently in discussions with its Community Renewal Fund grant providers regarding whether or not these grants are payments for a supply subject to VAT. Until the position is resolved a provision of £28,276 has been made in the accounts for the possible recovery of input VAT on the project costs incurred

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