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TALBOT TREGARON CYFYNGEDIG

Registered Number
07154988
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

TALBOT TREGARON CYFYNGEDIG
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

WATKIN, Dafydd Wyn

Registered Address

Y Talbot
The Square
Tregaron
SY25 6JL

Registered Number

07154988 (England and Wales)
TALBOT TREGARON CYFYNGEDIG
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets41,530,8061,530,117
1,530,8061,530,117
Current assets
Stocks7,86211,462
Debtors35,90038,610
Cash at bank and on hand7,29243,930
51,05494,002
Creditors amounts falling due within one year5(144,798)(209,128)
Net current assets (liabilities)(93,744)(115,126)
Total assets less current liabilities1,437,0621,414,991
Creditors amounts falling due after one year(19,992)(42,519)
Net assets1,417,0701,372,472
Capital and reserves
Called up share capital1,470,8861,470,885
Profit and loss account(53,816)(98,413)
Shareholders' funds1,417,0701,372,472
The financial statements were approved and authorised for issue by the Director on 25 October 2024, and are signed on its behalf by:
WATKIN, Dafydd Wyn
Director
Registered Company No. 07154988
TALBOT TREGARON CYFYNGEDIG
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year2626
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 March 2350,00050,000
At 29 February 2450,00050,000
Amortisation and impairment
At 01 March 2350,00050,000
At 29 February 2450,00050,000
Net book value
At 29 February 24--
At 28 February 23--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 March 231,521,088134,494172,2051,827,787
Additions-2,5452,5755,120
At 29 February 241,521,088137,039174,7801,832,907
Depreciation and impairment
At 01 March 23-126,364171,306297,670
Charge for year-3,4679644,431
At 29 February 24-129,831172,270302,101
Net book value
At 29 February 241,521,0887,2082,5101,530,806
At 28 February 231,521,0888,1308991,530,117
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables103,61744,454
Bank borrowings and overdrafts23,60524,683
Taxation and social security14,27519,544
Other creditors548116,572
Accrued liabilities and deferred income2,7533,875
Total144,798209,128
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.