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Alchemydd Eiddo Limited

Financial Statements for the Year Ended 29 February 2024






Alchemydd Eiddo Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R Morgan
I Morgan





REGISTERED OFFICE: Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA





REGISTERED NUMBER: 10620206 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Alchemydd Eiddo Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alchemydd Eiddo Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Alchemydd Eiddo Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Alchemydd Eiddo Limited and state those matters that we have agreed to state to the Board of Directors of Alchemydd Eiddo Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alchemydd Eiddo Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Alchemydd Eiddo Limited 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 Alchemydd Eiddo Limited. You consider that Alchemydd Eiddo Limited 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 Alchemydd Eiddo Limited. 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.






BPU Limited
Chartered Accountants


18 November 2024

Alchemydd Eiddo Limited (Registered number: 10620206)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 3,856 2,674
Investment property 4 320,000 272,500
323,856 275,174

CURRENT ASSETS
Cash at bank 310 293

CREDITORS
Amounts falling due within one year 5 2,200 2,112
NET CURRENT LIABILITIES (1,890 ) (1,819 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,966

273,355

CREDITORS
Amounts falling due after more than
one year

6

(247,197

)

(248,885

)

PROVISIONS FOR LIABILITIES (16,000 ) (3,275 )
NET ASSETS 58,769 21,195

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 49,759 13,959
Retained earnings 8,910 7,136
SHAREHOLDERS' FUNDS 58,769 21,195

Alchemydd Eiddo Limited (Registered number: 10620206)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 18 November 2024 and were signed on its behalf by:





I Morgan - Director


Alchemydd Eiddo Limited (Registered number: 10620206)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, in relation to property rental.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Alchemydd Eiddo Limited (Registered number: 10620206)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


3. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023 6,124
Additions 1,919
At 29 February 2024 8,043
DEPRECIATION
At 1 March 2023 3,450
Charge for year 737
At 29 February 2024 4,187
NET BOOK VALUE
At 29 February 2024 3,856
At 28 February 2023 2,674

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 March 2023 272,500
Revaluations 47,500
At 29 February 2024 320,000
NET BOOK VALUE
At 29 February 2024 320,000
At 28 February 2023 272,500

Cost or valuation at 29 February 2024 is represented by:
£   
Valuation in 2020 17,234
Valuation in 2022 47,500
Cost 255,266
320,000

Investment property was valued on an open market basis on 25/08/2022 by professional advisors.

Alchemydd Eiddo Limited (Registered number: 10620206)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxes & social security costs 849 827
Other creditors & accruals 1,351 1,285
2,200 2,112

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 194,884 194,884
Other creditors 52,313 54,001
247,197 248,885

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 194,884 194,884