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Company registration number: 10385239
Modurdy Dolydd Garage Cyf
Unaudited filleted financial statements
31 March 2024
Modurdy Dolydd Garage Cyf
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Modurdy Dolydd Garage Cyf
Directors and other information
Directors Mr Emyr Peris Hughes
Mrs Eleri Wyn Hughes
Company number 10385239
Registered office Dolydd
Caernarfon
Gwynedd
LL54 7EF
Business address Dolydd Garage
Dolydd
Caernarfon
Gwynedd
LL54 7EF
Accountants WJ Matthews & Son
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
Bankers HSBC Bank plc
24 Castle Square
Caernarfon
Gwynedd
LL55 2NB
Modurdy Dolydd Garage Cyf
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Modurdy Dolydd Garage Cyf
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Modurdy Dolydd Garage Cyf for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Modurdy Dolydd Garage Cyf, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Modurdy Dolydd Garage Cyf and state those matters that we have agreed to state to the board of directors of Modurdy Dolydd Garage Cyf as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Modurdy Dolydd Garage Cyf and its board of directors as a body for our work or for this report.
It is your duty to ensure that Modurdy Dolydd Garage Cyf has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Modurdy Dolydd Garage Cyf. You consider that Modurdy Dolydd Garage Cyf is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Modurdy Dolydd Garage Cyf. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
WJ Matthews & Son
Chartered Accountants
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
14 November 2024
Modurdy Dolydd Garage Cyf
Statement of financial position
31 March 2024
31/03/24 31/03/23
Note £ £ £ £
Current assets
Debtors 5 - 16,184
Cash at bank and in hand 134,270 202,570
_______ _______
134,270 218,754
Creditors: amounts falling due
within one year 6 ( 1,214) ( 39,926)
_______ _______
Net current assets 133,056 178,828
_______ _______
Total assets less current liabilities 133,056 178,828
_______ _______
Net assets 133,056 178,828
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 132,956 178,728
_______ _______
Shareholders funds 133,056 178,828
_______ _______
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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 November 2024 , and are signed on behalf of the board by:
Mrs Eleri Wyn Hughes
Director
Company registration number: 10385239
Modurdy Dolydd Garage Cyf
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Dolydd Garage, Dolydd, Caernarfon, Gwynedd, LL54 7EF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
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 difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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 in finance costs 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 Nil (2023: 8 ).
5. Debtors
31/03/24 31/03/23
£ £
Trade debtors - 7,684
Other debtors - 8,500
_______ _______
- 16,184
_______ _______
6. Creditors: amounts falling due within one year
31/03/24 31/03/23
£ £
Trade creditors - 8,376
Corporation tax 53 18,410
Social security and other taxes - 1,897
Other creditors 1,161 11,243
_______ _______
1,214 39,926
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Year ended 31/03/24
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Emyr Peris Hughes ( 398) 46,077 ( 46,000) ( 321)
_______ _______ _______ _______
Period ended 31/03/23
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Emyr Peris Hughes ( 218) 21,820 ( 22,000) ( 398)
_______ _______ _______ _______
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Year Period
ended ended
31/03/24 31/03/23
£ £
EP Hughes - 17,500
_______ _______
During the period the company paid rent to its director Mr EP Hughes for the use of the business premises.
9. Controlling party
The company is controlled by its directors who hold all the issued share capital.