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Filleted

Registration number: 07612798

Glanant Cyf

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Glanant Cyf

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Glanant Cyf

Company Information

Directors

Mr E H Jones

Mr E L Jones

Mrs M E Jones

Mrs M Jones

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Glanant Cyf

(Registration number: 07612798)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

194,194

217,564

Current assets

 

Debtors

6

36,711

35,402

Cash at bank and in hand

 

363,681

300,846

 

400,392

336,248

Creditors: Amounts falling due within one year

7

(34,240)

(42,265)

Net current assets

 

366,152

293,983

Total assets less current liabilities

 

560,346

511,547

Creditors: Amounts falling due after more than one year

7

(25,000)

(25,000)

Net assets

 

535,346

486,547

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

535,342

486,543

Total equity

 

535,346

486,547

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Glanant Cyf

(Registration number: 07612798)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 17 January 2025 and signed on its behalf by:
 

.........................................
Mr E H Jones
Director

   
     
 

Glanant Cyf

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Penlanymor
Llanarth
Ceredigion
SA47 0QE

These financial statements were authorised for issue by the Board on 17 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Glanant Cyf

Notes to the Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Glanant Cyf

Notes to the Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

23,371

23,370

 

Glanant Cyf

Notes to the Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

467,401

467,401

At 30 April 2024

467,401

467,401

Depreciation

At 1 May 2023

249,837

249,837

Charge for the year

23,370

23,370

At 30 April 2024

273,207

273,207

Carrying amount

At 30 April 2024

194,194

194,194

At 30 April 2023

217,564

217,564

6

Debtors

2024
£

2023
£

Trade debtors

36,007

34,680

Prepayments

583

601

Other debtors

121

121

36,711

35,402

 

Glanant Cyf

Notes to the Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,514

1,794

Taxation and social security

 

1,678

2,119

Other related parties

 

8,638

11,438

Corporation tax liability

 

20,721

25,028

Other creditors

 

1,689

1,886

 

34,240

42,265

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

25,000

25,000

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

         

9

Related party transactions

Transactions with directors

 

Glanant Cyf

Notes to the Financial Statements for the Year Ended 30 April 2024

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

Mr E L Jones

Interest free loan with no fixed repayment terms

(2,860)

700

(2,160)

       
     

Mr E H Jones

Interest free loan with no fixed repayment loan

(2,860)

700

(2,160)

       
     

Mrs M E Jones

Interest free loan with no fixed repayment terms

(2,860)

700

(2,160)

       
     

Mrs M Jones

Interest free loan with no fixed repayment terms

(2,860)

700

(2,160)

       
     

 

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

Mr E L Jones

Interest free loan with no fixed repayment terms

(3,010)

150

(2,860)

       
     

Mr E H Jones

Interest free loan with no fixed repayment loan

(3,010)

150

(2,860)

       
     

Mrs M E Jones

Interest free loan with no fixed repayment terms

(3,010)

150

(2,860)

       
     

Mrs M Jones

Interest free loan with no fixed repayment terms

(3,010)

150

(2,860)

       
     

 

Summary of transactions with other related parties

Messrs Jones
 The directors are also partners in Messrs Jones. During the year, the company supplied electricity to the partnership business of £11,177.18 (2023 £0).