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CYFRI CYFRIFWYR CYFYNGEDIG

Registered Number
04993371
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

CYFRI CYFRIFWYR CYFYNGEDIG
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

DAVIES, Gary
DAVIES, Llyr Gwyn

Company Secretary

DAVIES, Gary

Registered Address

23 College Street, Lampeter
Ceredigion
Wales
SA48 7DY

Registered Number

04993371 (England and Wales)
CYFRI CYFRIFWYR CYFYNGEDIG
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets31,383,511719,011
Tangible assets4142,673139,991
1,526,184859,002
Current assets
Stocks5125,000125,000
Debtors259,997166,099
Cash at bank and on hand46,72616,498
431,723307,597
Creditors amounts falling due within one year6(512,960)(240,426)
Net current assets (liabilities)(81,237)67,171
Total assets less current liabilities1,444,947926,173
Creditors amounts falling due after one year7(1,064,759)(581,009)
Net assets380,188345,164
Capital and reserves
Called up share capital1414
Revaluation reserve147,101147,101
Profit and loss account233,073198,049
Shareholders' funds380,188345,164
The financial statements were approved and authorised for issue by the Board of Directors on 3 January 2025, and are signed on its behalf by:
DAVIES, Gary
Director
Registered Company No. 04993371
CYFRI CYFRIFWYR CYFYNGEDIG
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
These financial statements have been prepared on a going concern basis.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are measured at cost or valuation less any impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year2315
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 May 23719,011719,011
Additions664,500664,500
At 30 April 241,383,5111,383,511
Net book value
At 30 April 241,383,5111,383,511
At 30 April 23719,011719,011
4.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 May 23125,00082,216207,216
Additions-17,41317,413
Disposals-(74,676)(74,676)
At 30 April 24125,00024,953149,953
Depreciation and impairment
At 01 May 23-67,22567,225
Charge for year-6,0236,023
On disposals-(65,968)(65,968)
At 30 April 24-7,2807,280
Net book value
At 30 April 24125,00017,673142,673
At 30 April 23125,00014,991139,991
5.Stocks

2024

2023

££
Work in progress125,000125,000
Total125,000125,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,2358,423
Bank borrowings and overdrafts137,702156,558
Taxation and social security132,99156,444
Other creditors26,03219,001
Accrued liabilities and deferred income207,000-
Total512,960240,426
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts321,928244,620
Amounts owed to related parties435,832336,389
Other creditors306,999-
Total1,064,759581,009
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
DAVIES, Gary4,6307,57812,2080
4,6307,57812,2080
As at 30 April 2024, the company owed Llyr Gwyn Davies £1,077 (2022: £355), no interest is charged and the amount is repayable in full on demand. Gary Davies owed the company £12,208. This amount was repaid in full within 9 months of the year-end.
9.Related party transactions
Cyfri Cyfyngedig is related by virtue of one of the directors of Cyfri Cyfrifwyr Cyfyngedig. Cyfri Cyfrifwyr Cyfyngedig rents office space to Cyfri Cyfyngedig. A rent for the year of £15,000 (2023: £15,000) was charged to Cyfri Cyfyngedig. From time to time either company may make short term loans to the other. At the balance sheet date the amount due to Cyfri Cyfyngedig was £435,832 (2023: £336,389). PJE Audit Services Ltd is related by virtue of the directors of Cyfri Cyfrifwyr Cyfyngedig. Cyfri Cyfrifwyr Cyfyngedig provides subcontracted labour to PJE Audit Services Ltd. From time to time either company may make short term loans to the other. At the balance sheet date the amount due from PJE Audit Services Ltd was £4,023 (2023: £560).