31 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,000 1,000 1,000 xbrli:pure xbrli:shares iso4217:GBP 02910078 2023-04-01 2024-03-31 02910078 2024-03-31 02910078 2023-03-31 02910078 2022-04-01 2023-03-31 02910078 2023-03-31 02910078 2022-03-31 02910078 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 02910078 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 02910078 core:PlantMachinery 2023-04-01 2024-03-31 02910078 core:FurnitureFittings 2023-04-01 2024-03-31 02910078 bus:Director4 2023-04-01 2024-03-31 02910078 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 02910078 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 02910078 core:PlantMachinery 2023-03-31 02910078 core:FurnitureFittings 2023-03-31 02910078 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 02910078 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 02910078 core:PlantMachinery 2024-03-31 02910078 core:FurnitureFittings 2024-03-31 02910078 core:WithinOneYear 2024-03-31 02910078 core:WithinOneYear 2023-03-31 02910078 core:ShareCapital 2024-03-31 02910078 core:ShareCapital 2023-03-31 02910078 core:CapitalRedemptionReserve 2024-03-31 02910078 core:CapitalRedemptionReserve 2023-03-31 02910078 core:RetainedEarningsAccumulatedLosses 2024-03-31 02910078 core:RetainedEarningsAccumulatedLosses 2023-03-31 02910078 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 02910078 core:Non-currentFinancialInstruments 2024-03-31 02910078 core:Non-currentFinancialInstruments 2023-03-31 02910078 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 02910078 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 02910078 core:PlantMachinery 2023-03-31 02910078 bus:SmallEntities 2023-04-01 2024-03-31 02910078 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02910078 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02910078 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02910078 bus:FullAccounts 2023-04-01 2024-03-31 02910078 core:ComputerEquipment 2023-04-01 2024-03-31 02910078 core:ComputerEquipment 2023-03-31 02910078 core:ComputerEquipment 2024-03-31 02910078 core:AllSubsidiaries 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 02910078
Cymen Cyfyngedig
Filleted Unaudited Financial Statements
31 March 2024
Cymen Cyfyngedig
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
37,815
37,520
Investments
6
1,000
1,000
--------
--------
38,815
38,520
Current assets
Stocks
307
54,501
Debtors
7
1,125,087
1,104,157
Cash at bank and in hand
770,420
617,912
------------
------------
1,895,814
1,776,570
Creditors: amounts falling due within one year
8
404,229
317,361
------------
------------
Net current assets
1,491,585
1,459,209
------------
------------
Total assets less current liabilities
1,530,400
1,497,729
------------
------------
Net assets
1,530,400
1,497,729
------------
------------
Capital and reserves
Called up share capital
36,272
36,272
Capital redemption reserve
1,910
1,910
Profit and loss account
1,492,218
1,459,547
------------
------------
Shareholders funds
1,530,400
1,497,729
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cymen Cyfyngedig
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024 , and are signed on behalf of the board by:
Mrs M W Cadwaladr
Director
Company registration number: 02910078
Cymen Cyfyngedig
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pen Deitsh, CAERNARFON, Gwynedd, LL55 AY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property Improvements
-
2% straight line
Leasehold Fixtures & Fittings
-
10% straight line
Office Eqipment & Furniture
-
16% straight line
Staff Bicycles
-
25% straight line
Translation Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 31 (2023: 28 ).
5. Tangible assets
Leasehold property improvements
Leasehold Property Fixtures & Fittings
Office Equipment & Furniture
Staff Bikes
Translation Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
12,008
100,988
170,723
1,042
52,157
336,918
Additions
12,835
4,546
17,381
--------
---------
---------
-------
--------
---------
At 31 Mar 2024
12,008
100,988
183,558
1,042
56,703
354,299
--------
---------
---------
-------
--------
---------
Depreciation
At 1 Apr 2023
1,680
95,504
155,868
1,042
45,304
299,398
Charge for the year
240
5,484
8,585
2,777
17,086
--------
---------
---------
-------
--------
---------
At 31 Mar 2024
1,920
100,988
164,453
1,042
48,081
316,484
--------
---------
---------
-------
--------
---------
Carrying amount
At 31 Mar 2024
10,088
19,105
8,622
37,815
--------
---------
---------
-------
--------
---------
At 31 Mar 2023
10,328
5,484
14,855
6,853
37,520
--------
---------
---------
-------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2023 and 31 March 2024
1,000
-------
Impairment
At 1 April 2023 and 31 March 2024
-------
Carrying amount
At 31 March 2024
1,000
-------
At 31 March 2023
1,000
-------
7. Debtors
2024
2023
£
£
Trade debtors
351,620
329,976
Amounts owed by group undertakings and undertakings in which the company has a participating interest
772,883
772,181
Other debtors
584
2,000
------------
------------
1,125,087
1,104,157
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
904
423
Trade creditors
65,767
19,487
Corporation tax
92,051
73,085
Social security and other taxes
133,291
113,584
Other creditors
112,216
110,782
---------
---------
404,229
317,361
---------
---------
9. Directors' advances, credits and guarantees
There have been no directors' advances, credits & guarantees in the current year.
10. Related party transactions
Included in debtors is an amount of £772,883 due from the holding company.
11. Controlling party
The ultimate parent company is Cymen Holdings Limited.