2 23/03/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-03-23 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 14751877 2023-03-23 2024-03-31 14751877 2024-03-31 14751877 2023-03-22 14751877 core:MotorVehicles 2023-03-23 2024-03-31 14751877 bus:RegisteredOffice 2023-03-23 2024-03-31 14751877 bus:LeadAgentIfApplicable 2023-03-23 2024-03-31 14751877 bus:Director1 2023-03-23 2024-03-31 14751877 core:MotorVehicles 2024-03-31 14751877 core:WithinOneYear 2024-03-31 14751877 core:ShareCapital 2024-03-31 14751877 core:RetainedEarningsAccumulatedLosses 2024-03-31 14751877 bus:Director1 2024-03-31 14751877 bus:SmallEntities 2023-03-23 2024-03-31 14751877 bus:AuditExemptWithAccountantsReport 2023-03-23 2024-03-31 14751877 bus:SmallCompaniesRegimeForAccounts 2023-03-23 2024-03-31 14751877 bus:PrivateLimitedCompanyLtd 2023-03-23 2024-03-31 14751877 bus:FullAccounts 2023-03-23 2024-03-31
Company registration number: 14751877
Smwddis Swig Smoothies Cyf
Unaudited filleted financial statements
31 March 2024
Smwddis Swig Smoothies Cyf
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Smwddis Swig Smoothies Cyf
Directors and other information
Director Mr Tomos Huw Owen (Appointed 23 March 2023)
Company number 14751877
Registered office 29 Eleanor Street
Twtil
Caernarfon
Gwynedd
LL55 1PG
Business address 29 Eleanor Street
Twtil
Caernarfon
LL55 1PG
Accountants WJ Matthews & Son
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
Smwddis Swig Smoothies Cyf
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Smwddis Swig Smoothies Cyf
Period 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 Smwddis Swig Smoothies Cyf for the period 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 director of Smwddis Swig Smoothies 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 Smwddis Swig Smoothies Cyf and state those matters that we have agreed to state to them, 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 Smwddis Swig Smoothies Cyf and its director as a body for our work or for this report.
It is your duty to ensure that Smwddis Swig Smoothies 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 Smwddis Swig Smoothies Cyf. You consider that Smwddis Swig Smoothies Cyf is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Smwddis Swig Smoothies 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
23 October 2024
Smwddis Swig Smoothies Cyf
Statement of financial position
31 March 2024
31/03/24
Note £ £
Fixed assets
Tangible assets 5 11,047
_______
11,047
Current assets
Debtors 6 38,301
Cash at bank and in hand 16,884
_______
55,185
Creditors: amounts falling due
within one year 7 ( 56,420)
_______
Net current liabilities ( 1,235)
_______
Total assets less current liabilities 9,812
Provisions for liabilities ( 25)
_______
Net assets 9,787
_______
Capital and reserves
Called up share capital 10
Profit and loss account 9,777
_______
Shareholder funds 9,787
_______
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges 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 23 October 2024 , and are signed on behalf of the board by:
Mr Tomos Huw Owen
Director
Company registration number: 14751877
Smwddis Swig Smoothies Cyf
Notes to the financial statements
Period 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 29 Eleanor Street, Twtil, Caernarfon, Gwynedd, LL55 1PG.
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.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2
5. Tangible assets
Motor vehicles Total
£ £
Cost
At 23 March 2023 - -
Additions 14,730 14,730
_______ _______
At 31 March 2024 14,730 14,730
_______ _______
Depreciation
At 23 March 2023 - -
Charge for the year 3,683 3,683
_______ _______
At 31 March 2024 3,683 3,683
_______ _______
Carrying amount
At 31 March 2024 11,047 11,047
_______ _______
6. Debtors
31/03/24
£
Trade debtors 1,000
Other debtors 37,301
_______
38,301
_______
7. Creditors: amounts falling due within one year
31/03/24
£
Bank loans and overdrafts 32,000
Corporation tax 2,822
Other creditors 21,598
_______
56,420
_______
8. Directors advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Period ended 31/03/24
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Tomos Huw Owen - ( 18,510) ( 18,510)
_______ _______ _______