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CYFRI CYFYNGEDIG

Registered Number
03925755
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

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

Director

DAVIES, Gary

Company Secretary

DAVIES, Gary

Registered Address

23 College Street
Lampeter
Ceredigion
SA48 7DY

Registered Number

03925755 (England and Wales)
CYFRI CYFYNGEDIG
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3653,228653,228
653,228653,228
Current assets
Debtors488,451394,245
Current asset investments6126,728170,262
615,179564,507
Creditors amounts falling due within one year7(78,034)(62,911)
Net current assets (liabilities)537,145501,596
Total assets less current liabilities1,190,3731,154,824
Creditors amounts falling due after one year8(26,813)(32,663)
Net assets1,163,5601,122,161
Capital and reserves
Called up share capital99
Revaluation reserve779,956823,490
Profit and loss account383,595298,662
Shareholders' funds1,163,5601,122,161
The financial statements were approved and authorised for issue by the Director on 14 January 2025, and are signed on its behalf by:
DAVIES, Gary
Director
Registered Company No. 03925755
CYFRI 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Goodwill is initially measured at cost and subsequently measured at cost less accumulated amortisation and any impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. Other intangible assets are measured initially at cost and subsequently measured at cost less any impairment losses plus revaluations.
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:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year44
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 May 2376,145653,228729,373
At 30 April 2476,145653,228729,373
Amortisation and impairment
At 01 May 2376,145-76,145
At 30 April 2476,145-76,145
Net book value
At 30 April 24-653,228653,228
At 30 April 23-653,228653,228
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 May 232,3462,9365,282
At 30 April 242,3462,9365,282
Depreciation and impairment
At 01 May 232,3462,9365,282
At 30 April 242,3462,9365,282
Net book value
At 30 April 24---
At 30 April 23---
5.Fixed asset investments
6.Current asset investments
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables29-
Bank borrowings and overdrafts11,05310,514
Taxation and social security61,47148,020
Other creditors5,4814,377
Total78,03462,911
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.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,81332,663
Total26,81332,663
9.Directors advances, credits and guarantees
10.Related party transactions
Cyfri Cyfrifwyr Cyfyngedig is related by virtue of one of the directors of Cyfri Cyfyngedig. A rent for the year of £15,000 (2023: £15,000) was charged to Cyfri Cyfyngedig by Cyfri Cyfrifwyr Cyfyngedig. From time to time either company may make short term loans to the other. At the balance sheet date the amount due from Cyfri Cyfrifwyr Cyfyngedig was £435,832 (2023: £336,388).