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REGISTERED NUMBER: 01000094 (England and Wales)















SUNDORNE PRODUCTS (Y MAES) LIMITED

Financial Statements for the Period 29 January 2023 to 27 January 2024






SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Contents of the Financial Statements
for the Period 29 January 2023 to 27 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUNDORNE PRODUCTS (Y MAES) LIMITED

Company Information
for the Period 29 January 2023 to 27 January 2024







DIRECTOR: C C Davies





REGISTERED OFFICE: Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB





REGISTERED NUMBER: 01000094 (England and Wales)





AUDITORS: Lancaster Haskins Limited Statutory Auditor
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Balance Sheet
27 January 2024

27.1.24 28.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,335,194 1,335,816
Investment property 5 1,095,000 1,095,000
2,430,194 2,430,816

CURRENT ASSETS
Stocks 231,941 165,471
Debtors 6 1,370,399 1,039,559
Cash at bank and in hand 115,631 437,368
1,717,971 1,642,398
CREDITORS
Amounts falling due within one year 7 1,713,032 2,618,283
NET CURRENT ASSETS/(LIABILITIES) 4,939 (975,885 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,435,133

1,454,931

CREDITORS
Amounts falling due after more than one
year

8

(736,583

)

(67,546

)

PROVISIONS FOR LIABILITIES (78,363 ) (79,499 )
NET ASSETS 1,620,187 1,307,886

CAPITAL AND RESERVES
Called up share capital 11 10,100 10,100
Capital redemption reserve 200 200
Non distributable reserves 476,797 476,797
Retained earnings 1,133,090 820,789
SHAREHOLDERS' FUNDS 1,620,187 1,307,886

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 director and authorised for issue on 30 October 2024 and were signed by:





C C Davies - Director


SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Notes to the Financial Statements
for the Period 29 January 2023 to 27 January 2024


1. STATUTORY INFORMATION

Sundorne Products (Y Maes) Limited 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 as modified by the revaluation of certain assets.

Financial reporting standard 102 - reduced disclosure exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
Management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the point when retail customers pay for the goods and at the point when credit customers take delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost and 2% on cost
Short leasehold - 5% on reducing balance
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on cost and 10% on cost
Motor vehicles - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Notes to the Financial Statements - continued
for the Period 29 January 2023 to 27 January 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the period 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 period 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.

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 period was 38 (2023 - 37 ) .

SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Notes to the Financial Statements - continued
for the Period 29 January 2023 to 27 January 2024


4. TANGIBLE FIXED ASSETS
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST
At 29 January 2023 965,803 64,847 534,913
Additions - - -
At 27 January 2024 965,803 64,847 534,913
DEPRECIATION
At 29 January 2023 55,442 42,027 213,807
Charge for period 10,654 1,142 43,702
At 27 January 2024 66,096 43,169 257,509
NET BOOK VALUE
At 27 January 2024 899,707 21,678 277,404
At 28 January 2023 910,361 22,820 321,106

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 29 January 2023 846,224 309,310 45,550 2,766,647
Additions - - 74,968 74,968
At 27 January 2024 846,224 309,310 120,518 2,841,615
DEPRECIATION
At 29 January 2023 809,152 273,520 36,883 1,430,831
Charge for period 407 6,117 13,568 75,590
At 27 January 2024 809,559 279,637 50,451 1,506,421
NET BOOK VALUE
At 27 January 2024 36,665 29,673 70,067 1,335,194
At 28 January 2023 37,072 35,790 8,667 1,335,816

SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Notes to the Financial Statements - continued
for the Period 29 January 2023 to 27 January 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 January 2023
and 27 January 2024 1,095,000
NET BOOK VALUE
At 27 January 2024 1,095,000
At 28 January 2023 1,095,000

The properties were valued at open market value on 28 October 2024 by Tudor Estate Agents, Pwllheli.

Fair value at 27 January 2024 is represented by:
£   
Valuation in 2005 417,513
Valuation in 2007 (3,709 )
Valuation in 2013 (35,000 )
Valuation in 2016 786,196
Valuation in 2021 130,000
Valuation in 2022 (55,000 )
Valuation in 2023 (145,000 )
1,095,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.1.24 28.1.23
£    £   
Trade debtors 12,357 21,153
Amounts owed by group undertakings 972,165 648,904
Other debtors 51,880 61,935
Directors' current accounts 239,194 235,383
Tax 62,477 61,191
Prepayments 32,326 10,993
1,370,399 1,039,559

SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Notes to the Financial Statements - continued
for the Period 29 January 2023 to 27 January 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.1.24 28.1.23
£    £   
Bank loans and overdrafts 40,776 712,605
A F Blakemore and Son Limited 120,705 110,627
Other loans 7,500 35,000
Hire purchase contracts (see note 9) 13,108 -
Trade creditors 1,393,155 1,533,941
Amounts owed to group undertakings 559 2,864
Tax 70,882 104,338
Social security and other taxes 2,249 38,338
Other creditors 2,322 36,768
Accrued expenses 61,776 43,802
1,713,032 2,618,283

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
27.1.24 28.1.23
£    £   
Bank loans - 1-2 years 38,261 -
Bank loans - 2-5 years 102,871 -
Bank loans more 5 yr by instal 543,013 -
A F Blakemore and Son Limited - 67,546
Hire purchase contracts (see note 9) 52,438 -
736,583 67,546

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 543,013 -

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

27.1.24 28.1.23
£    £   
Net obligations repayable:
Within one year 13,108 -
Between one and five years 52,438 -
65,546 -

SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Notes to the Financial Statements - continued
for the Period 29 January 2023 to 27 January 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

27.1.24 28.1.23
£    £   
Bank overdraft 4,934 -
Bank loans 719,987 712,605
Hire purchase contracts 65,546 -
A F Blakemore loans 1,358,877 1,253,485
2,149,344 1,966,090

Assets held as security formally charged to the Bank:

An unlimited inter-company guarantee.

A debenture over all assets of the company dated 29/02/2008

48 Morfar Garreg, Pwllheli

Garage Premises, New Street, Pwllhelli

9 Lower Cardiff Road, Pwllheli

8 Lower Cardiff Road, Pwllhelli

6 Lower Cardiff Road, Pwllheli

28 Penrhyn Llidiog, Pwllheli

A legal charge over Glandon Service Station, Caernarvon Road, Pwllheli, dated 05/12/2017

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 27.1.24 28.1.23
value: £    £   
10,000 Ordinary £1 10,000 10,000
100 Ordinary "B" £1 100 100
10,100 10,100

Ordinary shares have a right to a dividend, are voting shares and have usual priority and share in any surplus on winding up as other ordinary shares.

Ordinary "B" shares are only available for subscription by and issue to directors. Each director may subscribe for a maximum of 100 shares at par value and upon ceasing as a director the shares will be forfeited. The shares are non-voting, non-transferable shares and no rights are attached to the shares other than that of dividend entitlement. In the event of liquidation of the company ordinary "B"shares do not share any surplus.

SUNDORNE PRODUCTS (Y MAES) LIMITED (REGISTERED NUMBER: 01000094)

Notes to the Financial Statements - continued
for the Period 29 January 2023 to 27 January 2024


12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Ashton, A.C.A, F.C.C.A. (Senior Statutory Auditor)
for and on behalf of Lancaster Haskins Limited Statutory Auditor

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 27 January 2024 and 28 January 2023:

27.1.24 28.1.23
£    £   
C C Davies
Balance outstanding at start of period 235,383 216,008
Amounts advanced 3,810 19,375
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 239,193 235,383

The loan is unsecured and interest free and repayable on demand.

14. ULTIMATE CONTROLLING PARTY

The controlling party is C C Davies.

15. GOING CONCERN

The accompanying financial statements have been prepared on the assumption that the company will continue as a going concern in the foreseeable future. Management has assessed the company's ability to continue as a going concern and has not identified any material uncertainties that may cast significant doubt on the company's ability to continue as a going concern.

Management's Assessment

Management has evaluated various factors, including the company's current financial position, projected future cash flows, and existing financing arrangements. Based on this assessment, management believes that the company has adequate resources to meet its obligations as they become due and to continue its operations.