IRIS Accounts Production v24.1.4.33 11023964 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false false true false 12547 21310 56450 21000 64532 29763 4465 12547 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110239642022-10-31110239642023-10-31110239642022-11-012023-10-31110239642021-10-31110239642021-11-012022-10-31110239642022-10-3111023964ns15:EnglandWales2022-11-012023-10-3111023964ns14:PoundSterling2022-11-012023-10-3111023964ns10:Director12022-11-012023-10-3111023964ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3111023964ns10:SmallEntities2022-11-012023-10-3111023964ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3111023964ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3111023964ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3111023964ns10:FullAccounts2022-11-012023-10-311102396412022-11-012023-10-311102396441ns10:Director12022-10-311102396441ns10:Director12021-10-311102396441ns10:Director12022-11-012023-10-311102396441ns10:Director12021-11-012022-10-311102396441ns10:Director12023-10-311102396441ns10:Director12022-10-3111023964ns10:Director22022-11-012023-10-3111023964ns10:CompanySecretary12022-11-012023-10-3111023964ns10:RegisteredOffice2022-11-012023-10-3111023964ns5:CurrentFinancialInstruments2023-10-3111023964ns5:CurrentFinancialInstruments2022-10-3111023964ns5:Non-currentFinancialInstruments2023-10-3111023964ns5:Non-currentFinancialInstruments2022-10-3111023964ns5:ShareCapital2023-10-3111023964ns5:ShareCapital2022-10-3111023964ns5:RetainedEarningsAccumulatedLosses2023-10-3111023964ns5:RetainedEarningsAccumulatedLosses2022-10-3111023964ns5:NetGoodwill2022-11-012023-10-3111023964ns5:IntangibleAssetsOtherThanGoodwill2022-11-012023-10-3111023964ns5:PlantMachinery2022-11-012023-10-3111023964ns5:NetGoodwill2022-10-3111023964ns5:NetGoodwill2023-10-3111023964ns5:NetGoodwill2022-10-3111023964ns5:PlantMachinery2022-10-3111023964ns5:PlantMachinery2023-10-3111023964ns5:PlantMachinery2022-10-3111023964ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3111023964ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3111023964ns10:Director222022-10-3111023964ns10:Director222021-10-3111023964ns10:Director222022-11-012023-10-3111023964ns10:Director222021-11-012022-10-3111023964ns10:Director222023-10-3111023964ns10:Director222022-10-31
REGISTERED NUMBER: 11023964 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

LLYS MEDDYG LTD

LLYS MEDDYG LTD (REGISTERED NUMBER: 11023964)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LLYS MEDDYG LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: E C Sykes
Mrs E L Sykes





SECRETARY:





REGISTERED OFFICE: Llys Meddyg
East Street
Newport
Pembrokeshire
SA42 0SY





REGISTERED NUMBER: 11023964 (England and Wales)





ACCOUNTANTS: Great Nash Accountancy Services
31 Church View
Summerhill
Stepaside
Pembrokeshire
SA67 8LZ

LLYS MEDDYG LTD (REGISTERED NUMBER: 11023964)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,000 10,000
Tangible assets 5 402,218 355,442
410,218 365,442

CURRENT ASSETS
Stocks 14,075 12,525
Debtors 6 99,745 100,055
Cash at bank and in hand 28,426 35,444
142,246 148,024
CREDITORS
Amounts falling due within one year 7 437,596 388,299
NET CURRENT LIABILITIES (295,350 ) (240,275 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,868

125,167

CREDITORS
Amounts falling due after more than one
year

8

(47,005

)

(30,499

)

PROVISIONS FOR LIABILITIES (20,559 ) (17,388 )
NET ASSETS 47,304 77,280

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 47,204 77,180
SHAREHOLDERS' FUNDS 47,304 77,280

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

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

LLYS MEDDYG LTD (REGISTERED NUMBER: 11023964)

BALANCE SHEET - continued
31 OCTOBER 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 29 October 2024 and were signed on its behalf by:





E C Sykes - Director


LLYS MEDDYG LTD (REGISTERED NUMBER: 11023964)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Llys Meddyg Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery etc - 15% on reducing balance

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

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.

LLYS MEDDYG LTD (REGISTERED NUMBER: 11023964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

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.

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 15 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 20,000
AMORTISATION
At 1 November 2022 10,000
Charge for year 2,000
At 31 October 2023 12,000
NET BOOK VALUE
At 31 October 2023 8,000
At 31 October 2022 10,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 437,356
Additions 75,329
At 31 October 2023 512,685
DEPRECIATION
At 1 November 2022 81,914
Charge for year 28,553
At 31 October 2023 110,467
NET BOOK VALUE
At 31 October 2023 402,218
At 31 October 2022 355,442

LLYS MEDDYG LTD (REGISTERED NUMBER: 11023964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 4,693 4,582
Other debtors 95,052 95,473
99,745 100,055

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 17,008 10,000
Trade creditors 164,258 114,694
Taxation and social security 111,459 108,416
Other creditors 144,871 155,189
437,596 388,299

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 47,005 30,499

9. SECURED DEBTS

Barclays Security Trustee Limited hold a fixed and floating charge over all assets dated 10 December 2019.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mrs E L Sykes and E C Sykes
Balance outstanding at start of year 12,547 21,310
Amounts advanced 56,450 21,000
Amounts repaid (64,532 ) (29,763 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,465 12,547

The company paid rent of £21,000 to the directors, Mr & Mrs E C Sykes, for the use of their property during the period (2022 £21,000). No monies were outstanding as at the Balance Sheet date.