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REGISTERED NUMBER: 08694243 (England and Wales)















ELFED EVANS & CO LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ELFED EVANS & CO LTD (REGISTERED NUMBER: 08694243)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELFED EVANS & CO LTD

COMPANY INFORMATION
for the Year Ended 31 MARCH 2024







DIRECTORS: Mr E L Evans
Mr D Evans
Mrs M Evans





REGISTERED OFFICE: Bodilan Fawr
Abergynolwyn
Tywyn
Gwynedd
LL36 9TR





REGISTERED NUMBER: 08694243 (England and Wales)





ACCOUNTANTS: E W Owen & Co
Glyndwr Buildings
Glyndwr Street
Dolgellau
Gwynedd
LL40 1BB

ELFED EVANS & CO LTD (REGISTERED NUMBER: 08694243)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,574 61,452

CURRENT ASSETS
Stocks 3,164 1,440
Debtors 5 21,306 62,514
Cash at bank 147,321 71,900
171,791 135,854
CREDITORS
Amounts falling due within one year 6 25,775 22,881
NET CURRENT ASSETS 146,016 112,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,590

174,425

PROVISIONS FOR LIABILITIES 7,013 5,877
NET ASSETS 203,577 168,548

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 203,477 168,448
SHAREHOLDERS' FUNDS 203,577 168,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

ELFED EVANS & CO LTD (REGISTERED NUMBER: 08694243)

BALANCE SHEET - continued
31 MARCH 2024


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 27 December 2024 and were signed on its behalf by:





Mr E L Evans - Director


ELFED EVANS & CO LTD (REGISTERED NUMBER: 08694243)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024


1. STATUTORY INFORMATION

Elfed Evans & Co Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

ELFED EVANS & CO LTD (REGISTERED NUMBER: 08694243)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Flock Plant and Computer
account machinery equipment Totals
£    £    £    £   
COST
At 1 April 2023 30,521 48,733 2,165 81,419
Additions - 10,171 - 10,171
Disposals (2,860 ) - - (2,860 )
At 31 March 2024 27,661 58,904 2,165 88,730
DEPRECIATION
At 1 April 2023 - 18,591 1,376 19,967
Charge for year - 4,031 158 4,189
At 31 March 2024 - 22,622 1,534 24,156
NET BOOK VALUE
At 31 March 2024 27,661 36,282 631 64,574
At 31 March 2023 30,521 30,142 789 61,452

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,205 6,373
Other debtors 15,101 56,141
21,306 62,514

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,018 9,023
Taxation and social security 7,080 5,181
Other creditors 8,677 8,677
25,775 22,881